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shivkumar
Senior Member
Joined: 02/Oct/2007
Location: India
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Posts: 2037
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   Posted: 20/Jan/2009 at 11:24am |
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Assuming that the Rs 4000 per average employee mentioned by Prakash was the cost to company, the 'salary' could have been split into say Rs 2000 basic pay and another Rs 1500 as expenses. About Rs 400 could be the PF deduction (both employee and employer) per month. For so many employees PF deduction should not be less than Rs 1.77 crore.
If the company has been hiring most of the employees as temporary hands on a fixed pay contract without benefits for what is really a permanent job then it could be violating labour laws.
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PKB2000
Senior Member
Joined: 11/Aug/2006
Location: India
Online Status: Offline
Posts: 1453
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Posted: 20/Jan/2009 at 11:50am |
Originally posted by shivkumar
Assuming that the Rs 4000 per average employee mentioned by Prakash was the cost to company, the 'salary' could have been split into say Rs 2000 basic pay and another Rs 1500 as expenses. About Rs 400 could be the PF deduction (both employee and employer) per month. For so many employees PF deduction should not be less than Rs 1.77 crore.
If the company has been hiring most of the employees as temporary hands on a fixed pay contract without benefits for what is really a permanent job then it could be violating labour laws.
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I am studying a salary structure of a private company of Pune running in industires in 2006 for a junior excutive level company
His salry gross was 42950 and his PF is 2340. There were two letters of salary distribution Basic was 15000. Dearness Allownce is 4500, HRA is 7500 Education allownce is 350 Washing allownce is 500 City allownce is 3200, Coneveyance Reimbursement is 11500 total 42950 and PF deduction is 2340.
I was trying to draw some calculation and distributed the salary in 6000 as below
| basic |
1500 |
246.6 |
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739800 |
| da |
500 |
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| education allownce |
400 |
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| hra |
1200 |
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| canteen |
500 |
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| conveyance reimbursement |
1900 |
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6000 |
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This gives PF is 246.6 and for 75% of 4000 people PF comes to 739800
ANYWAY I HAVE SOLD EDUCOMP AT THE MOMENT WITH THE PRINCIPLE THAT :"IF IN DOUBT STAY OUT"
Edited by PKB2000 - 21/Jan/2009 at 3:17pm
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I am always doing that which I cannot do, in order that I may learn how to do it. ~Pablo Picasso
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investor
Senior Member
Joined: 06/Sep/2006
Online Status: Offline
Posts: 1745
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Posted: 21/Jan/2009 at 12:03pm |
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Suprisingly, the stock is holding out ok, just down around 5%.
I would've thought with the recent Satyam developments, just the newsflow
wouldve been enough to make people dump and run.
I guess some people never learn.
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The market is a place where people with money meet people with experience.
The people with experience get the money while people with money get experience!
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basant
Admin Group
Joined: 01/Jan/2006
Location: India
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Posts: 18403
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Posted: 21/Jan/2009 at 12:33pm |
Its their money and they have a right to blow it don't they?
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'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
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kumardiwesh
Senior Member
Joined: 26/May/2008
Location: India
Online Status: Offline
Posts: 721
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Posted: 21/Jan/2009 at 12:35pm |
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It should get a hammering.
Let's wait and watch.
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"History does not tell you the probability of future financial things happening" - Warren Buffett
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stockaddict
Senior Member
Joined: 18/Jul/2007
Online Status: Offline
Posts: 263
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Posted: 21/Jan/2009 at 1:51pm |
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Many people have what is called 'risk addiction'(as shown in basic instinct 2)Like satyam people were holding out/buying @ 160 , 45 etc they get some pleasure out of living on the edge. Perhaps they ignore the risk-reward equation altogether.
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Circuit
Senior Member
Joined: 14/Jun/2008
Location: India
Online Status: Offline
Posts: 930
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Posted: 21/Jan/2009 at 2:37pm |
Originally posted by kumardiwesh
It should get a hammering.
Let's wait and watch. |
Your wish comes true.... Stock down 25% today 
Edited by Circuit - 21/Jan/2009 at 2:39pm
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investor
Senior Member
Joined: 06/Sep/2006
Online Status: Offline
Posts: 1745
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Posted: 21/Jan/2009 at 2:49pm |
Originally posted by investor
Never ever thought that one day "basic instinct" would ever figure in TED! 
Take a bow, Sharon Stone! 
Originally posted by stockaddict
Many people have what is called 'risk addiction'(as shown in basic instinct 2)Like satyam people were holding out/buying @ 160 , 45 etc they get some pleasure out of living on the edge. Perhaps they ignore the risk-reward equation altogether. |
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The market is a place where people with money meet people with experience.
The people with experience get the money while people with money get experience!
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