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<ul><li>The Indian government is planning to relax the employee contribution to Employees Provident Fund which will increase <keyword id="8029702" type="UNKNOWN" weightage="20" keywordseo="Take-home-salaries">take home salaries</keyword>. </li><li>As of now, both the employers and the employees each contribute 12% of the salary to the Employee Provident Fund Organisation</li><li>The government aims to lower the mandatory 12% by employees towards <keyword id="45027" type="ORGANIZATION" weightage="20" keywordseo="EPF">EPF</keyword>.</li></ul>The Indian government might be paving the way for higher takehome salaries by reducing the amount that has to be deposited with the Employees Provident Fund, <a href="https://www.business-standard.com/article/economy-policy/take-home-salary-may-rise-under-new-employees-provident-fund-law-119082700033_1.html">reported Business Standard.</a> As per a proposal, the government will decrease the rate of contribution for a specific class of workers<a href="https://economictimes.indiatimes.com/news/economy/policy/domestic-help-others-may-get-pf-benefits/articleshow/70848979.cms"> like domestic help, drivers, maids and other self employed workers. </a>However, the law does not suggest any change in the contribution of the employer's. Currently, all the employees who are earning upto ₹15,000 a month have to pay 24% of their salary. As of now, both the employers and the employees contribute 12% of the salary to the Employee Provident Fund Organisation. The government aims to relax the mandatory 12% contribution by the employee. Along with this, the government also wants to give employees an option to choose between all the schemes provided by the Employees Provident Fund Organisation (<keyword id="6372438" type="ORGANIZATION" weightage="20" keywordseo="epfo">EPFO</keyword>) and the National Pension System (NPS). If approved, an employee who is not satisfied with NPS can make a switch to EPFO. A first draft of the EPF &amp; MP (Amendment) Bill, 2019, has sought comments from stakeholders till September 22.

Take home salaries in India may rise at the cost of employee provident fund

IT industry, at this time, is facing a lot of issues, leading to the salaries at entry level going down the hill. However, the CEOs from the IT industry have had no effect of this, since they are still earning several hundreds to a thousand times the salaries that a middle employee gets, says an <a href="http://economictimes.indiatimes.com/tech/ites/it-ceos-like-vishal-sikka-are-earning-several-times-the-median-employee-remuneration/articleshow/52931439.cms">ET</a> report. 
 
The shareholders at TCS and Infosys have already begun questioning the payments of these CEOs, which as per them are very high. The highest salary is taken home by Infosys CEO Vishal Sikka, and Infosys also has the highest CEO compensation in comparison to median employee remuneration, which is 935.38 times. 
 
In comparison, Wipro's CEO is paid the least, and the company has the lowest ratio of CEO compensation to employee remuneration (260.19 times). 
 
For several years now, the starting salaries of IT entrants have been within the Rs 2.5-3.5-lakh per annum, which has forced some companies to hire B.Sc and a few arts graduates who can support IT people, so that they can continue maintaining low salaries at the bottom of the pyramid. 
 
<a href="http://simc-wire.com/wp-content/uploads/2015/07/2a14b53c-e0fc-46e1-8131-08c0a571e406wallpaper1.jpg">Image source</a>

IT CEOs take home thousand times a maiden employee’s salary

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Justin Sullivan/Getty ImagesThe US tax rate falls between Canada's and Mexico's.</div></div></div><ul><li>Tax rates vary in each country, from over 50% to 0% for the average wage earner in the country.</li><li>Spain, France, and Germany all have the same 30% tax rate for the average citizen, but Germany has the highest average salary.</li><li>Switzerland and Denmark have the highest pre-tax salaries, but Switzerland's tax rate is much lower.</li></ul>The salary you negotiate isn't the amount you end up receiving in your paychecks. The primary reason: taxes. It is well known that every country has a <a href="http://www.businessinsider.com/wef-countries-with-the-highest-tax-rates-2016-9" target="_blank" rel="noopener">different corporate tax rate</a>, but each one also has different tax rates for individuals. CapRelo <a href="https://info.caprelo.com/blog/tax-rates-by-country" target="_blank" rel="noopener">published a study</a> on tax rates and take home salaries in 40 countries, including the United States, Germany, and China. Often, salary comparisons in different countries don't include tax rates. But the higher a country's tax rate, the bigger the difference between annual pay and take-home pay once taxes are taken out. A couple of countries in the report have practical tax rates over 50%, while two nations are essentially tax-free for the median earner. This means that two people with similar salaries in different countries can have vastly different paychecks.Below, the individual tax rate in 40 countries, ranked from highest tax rates to the lowest. The tax rate is what someone making the nation's average wage would pay. The average citizen's pay before and after taxes is also included for each country.

How much the average person in 40 different countries takes home after taxes

<div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="Seth Wenig/AP" title_caption="Google cofounder Larry Page takes home a $1 base salary each year." class="zoomin" href="https://static-ssl.businessinsider.com/image/55ca65cf2acae76e098be081-960/ap_12052117356.jpg"></a>Seth Wenig/APGoogle cofounder Larry Page takes home a $1 base salary each year.</div></div></div>While many executives are criticized for their excessive pay, some CEOs have been able to skirt around the issue by choosing to forgo a lofty salary and opting instead for a paycheck of $1 a year, or less.Of course, this isn't to say these executives are living off the dollar menu. The CEOs on this list are still worth millions, if not billions, but while some merely pay lip service to the $1 salary club by taking home hefty compensation in the form of company stock awards and bonuses, others forgo adding to their wealth in this way entirely."I've made enough money," said Mark Zuckerberg <a href="http://www.businessinsider.com/mark-zuckerberg-only-makes-1-a-year-2015-6#ixzz3iWdYyz49">during a Q&amp;A on Facebook in June</a>. "At this point, I'm just focused on making sure I do the most possible good with what I have." Zuckerberg chooses to take home a $1 salary and declines stock awards and bonuses.Here are some CEOs and other executives that belong to the $1 (or less) salary club:

13 top executives who make a $1 salary or less

<ul><li><keyword id="207035" type="PERSON" weightage="20" keywordseo="Dilip-Shanghvi">Dilip Shanghvi</keyword> is the founder of $3.6billion, Sun Pharma, India's most valuable pharma outfit. </li><li>He once dethroned Mukesh Ambani as India's richest man but is now witnessing a massive decline in his wealth. </li><li>Sanghvi, "unschooled in science and management" turned Sun Pharma a $3.6 billion multinational company</li></ul>In 2015, the chairman of Sun Pharma Dilip Shanghvi had briefly dethroned Mukesh Ambani to become the country’s richest man. His response to that was, “I am not comfortable.” Though he doesn’t hold that position anymore, his net worth can buy him 138 million barrels of gold, according to Bloomberg billionaire index. Shanghvi is one of the few billionaires who stay away from limelight and remain undocumented, as he doesn’t “like it”. 
 
	<div type="Slideshow" msid="71076825" hostid="261" title="Dilip Shanghvi, the common man turned Indian billionaire who is taking home a salary of ₹1" firstImageMsid="71077028" slideCount="5"></div>

Dilip Shanghvi, the common man turned Indian billionaire who is taking home a salary of ₹1

<ul><li>The <keyword id="14332503" type="General" weightage="20" keywordseo="new-labor-codes" source="Orion">new labor codes</keyword> are expected to be implemented tomorrow, July 1.</li><li>New labor laws will bring a lot of changes in the working culture.</li><li>While the central government plans to implement these new laws by July 1, many states are still yet to ratify the laws.</li></ul>The new labor codes on wages, social security, industrial relations, and occupation safety, health, and working conditions are expected to be effective tomorrow, July 1. And there could be a lot of changes in the salary restructure, provident fund and gratuity, working hours, and leaves. While the central government plans to implement these new laws by July 1, many states are still yet to ratify the laws. Only 23 states and union territories (UTs) have released the draft guidelines under the Code on Wages, according to Rameshwar Teli, Minister of State for Labour and Employment. <cmsannotation type="cmsannotation" annotationid="Four days week with 12 hours shift" comment="subhead" text="Four days week with 12 hours shift"><keyword id="8533668" type="General" weightage="20" keywordseo="Four-days-week" source="Orion">Four days week</keyword> with 12 hours shift</cmsannotation> The new laws will allow companies to have four days working instead of five or six. However, four days doesn’t mean fewer working hours. Employees will have to work for 12 hours a day instead of 8 hours to compensate for the third leave in a week. However, this also doesn’t mean a cut in paid holidays. Four-day work week would mean three paid holidays <cmsannotation type="cmsannotation" annotationid="New exiting polices" comment="subhead" text="New exiting polices">New exiting polices</cmsannotation> According to the new labor codes, companies will have to pay full and clear all pending wages and salaries within the two days of employees’ last working day as per their respective resignation date, dismissal, and removal from employment. Currently, companies pay out or complete their employees' dues in 45 to 60 days from the employee’s last working day. In some cases, companies take 90 days to clear the dues. <cmsannotation type="cmsannotation" annotationid="Work from home" comment="subhead" text="Work from home">Work from home</cmsannotation> Remote working became the new working culture during the covid-19 pandemic, and now employees want this trend to continue. The new labor laws are drafted to help the employees maintain their work-life balance. <cmsannotation type="cmsannotation" annotationid="Take-home salary, provident funds, and gratuity" comment="subhead" text="Take-home salary, provident funds, and gratuity">Take-home salary, provident funds, and gratuity</cmsannotation> The take-home salary for every month will change significantly because the basic salary will be at least 50% of the gross monthly salary, as per the new wage codes. This also means that there will be a substantial rise in gratuity and PF contribution of the employee. <cmsannotation type="cmsannotation" annotationid="Leaves" comment="subhead" text="Leaves">Leaves</cmsannotation> The most significant changes will reflect in the number of paid leaves. Usually, an employee in a government office gets 30 days a year. In addition, employees can cash upto 300 holidays on carrying forward; however, the new laws are demanding to increase this number to 450. Presently, there are 240 to 300 holidays in different departments. Employees can take these holidays in cash only after 20 years of service. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/in-india-it-could-be-a-funding-autumn-not-winter-with-active-funds-are-still-closing-big-deals/articleshow/92570964.cms">In India, it could be a funding autumn not winter with active funds are still closing big deals</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/a-cred-like-platform-is-what-indian-ott-users-want-to-juggle-multiple-subscriptions/articleshow/92570894.cms">A CRED-like platform is what Indian OTT users want to juggle multiple subscriptions</a>

Four-days work week, full and final settlement within 2 days of exit — new changes at workplaces to reflect from July 1

<div class="KonaFilter image-container float_right"><div class="image on-image"></div></div>Kobe Bryant is the NBA's highest-paid player with a salary this season of $23.5 million. But thanks to taxes he will only take home a little more than half of that <a href="http://www.si.com/nba/2014/11/11/nba-salary-highest-paid-player-taxes-kobe-bryant-joe-johnson">according to Chris Johnson of SI.com</a>.
Johnson, working with tax expert Robert Raiola, looked at the highest-paid players in the NBA and came up with an estimate of each player's taxes, considering such factors as where the player resides and where the player plays both home and road games.
The road games are important for calculating the so-called "jock tax." This is a tax levied by some city and states on individuals who visit the area for work. Typically, these taxes are only forced upon pro athletes whose work schedules and salaries are easily obtainable.
Here are the five players that are expected to pay the most in taxes this season along with their estimated taxes (salary in parentheses).
<ol>
<li>Kobe Bryant, Los Angeles Lakers - $11.4 million ($23.5 million)</li>
<li>Amar'e Stoudemire, New York Knicks - $11.3 million ($23.4 million)</li>
<li>Carmelo Anthony, New York Knicks - $10.8 million ($22.5 million)</li>
<li>Joe Johnson, Brooklyn Nets - $10.7 million ($23.2 million)</li>
<li>Chris Paul, Los Angeles Clippers - $9.7 million ($20.1 million)</li>
</ol>
Bryant may not actually be the NBA's highest-paid player after taxes.
Bryant's estimated take-home pay is $12.1 million or about 51.5% of his salary.
Meanwhile, Joe Johnson of the Brooklyn Nets will take home an estimated $12.5 million (53.9%) of his $23.2 million salary, making him the unofficial highest-paid player in the NBA.

Kobe Bryant Will Pay An Estimated $11.4 Million In Taxes This Year Thanks To The 'Jock Tax'

New Delhi, Apr 9 () IT industry body Nasscom has sought a relief package from the government, including allowing bench employees to be paid only minimum wages, to prevent job losses in business process management (BPM) and global capability centres (GCC) sectors. Nasscom said BPM, GCC and parts of IT industry are operating at maximum 70 per cent capacity utilisation in wake of the lockdown imposed to contain the spread of the coronavirus infection in the country. Assuming that 20 per cent of the industry is idle, salary costs would be huge for companies that employ lakhs of workers, it added. Nasscom urged that they should be allowed to pay bench employees only minimum wages along with statutorily entitlements. "In the absence of work, it will be difficult for companies to pay regular incomes to the employees on bench. This will ensure such employees are paid as per the statutory requirements along with other entitlements," it added. Employees on bench are those who aren't working on any project for the time being but remain on the rolls and receive regular salary from the company. Nasscom suggested introduction of a furlough scheme, like one in the UK where for the period of lockdown, employee stay on the rolls of the companies without salaries. During this period, the government pays 50 per cent of the employees' salary (no further contribution from company) and during that period, the accruals of the employee also cease. This is required immediately to prevent job losses which will be the case after April 15, Nasscom argued. It has also asked the government to expand its scheme for bearing employer and employee contribution towards Provident Fund for the next three months. "This (present scheme) is for those establishments which have up to 100 employees and 90 per cent of them earn less than Rs 15,000. Suggest that this be extended to all establishments without the cap of 100 employees and 90 per cent of them earning less than Rs 15,000. "Government may, however, cap the contribution of 24 per cent up-to a wage amount not exceeding Rs 15,000," it said. This will provide a significant benefit particularly to BPM/IT-enabled services/GCCs companies, it added. The industry body suggested that an option be provided to employers for a one-time PF/ESI opt-out option to reduce the costs, without affecting take home salary presently. This, it said, will enable greater take home salary for employees as pay hikes are difficult. The coronavirus outbtreak across the globe has had a disruptive impact on businesses, demand and supply of products, services as also cash flow of firms due to slowing economic activity. There are widespread concerns that this could result in companies slashing jobs and resorting to salary cuts to tide over the crisis. In an unprecedented move, Prime Minister Narendra Modi on March 24 announced a complete lockdown of the entire country for 21 days to try halt the spread of coronavirus, shortly after which the Centre said road, rail and air services will remain suspended during this period. As on Thursday, the pandemic has claimed 166 lives in the country and the number of COVID-19 cases stand at 5,734 in India. SR MBI RVK

COVID-19: Nasscom seeks govt help for BPM, GCCs

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>It can be a shock landing that exciting first adult job, only to find out how much of your paycheck actually goes to Uncle Sam. Thanks to a litany of salary deductions like federal and state income taxes and Medicare, you always end up going home with less than your advertised salary. But how much you lose depends on where you live.<a href="https://www.gobankingrates.com/personal-finance/much-money-gets-taken-out-paychecks-state/">New data put together by GOBankingRates</a> shows how much residents in every state actually take home on a $50,000 salary and a $100,000 salary, taking into account varying income tax rates and other witholdings, like taxes for unemployment or disability insurance.To determine how much is taken from each biweekly paycheck, GOBankingRates used ADP's <a href="https://www.adp.com/tools-and-resources/calculators-and-tools/payroll-calculators/salary-paycheck-calculator.aspx" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=https://www.adp.com/tools-and-resources/calculators-and-tools/payroll-calculators/salary-paycheck-calculator.aspx&amp;source=gmail&amp;ust=1487951844747000&amp;usg=AFQjCNEoiojaVoFJM5lJNzv7W2h061pbsg">salary paycheck calculator</a> for both a $50,000 salary and $100,000 salary in all 50 states and Washington, DC, under these conditions: filing status single, one federal allowance, zero additional federal withholding, no round federal withholding, and zero additional state withholding.In total, nine US states don't impose an income tax on your salary: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming (but Tennessee and New Hampshire do tax investment and dividend income). Eight states impose a flat tax rate, and the other 33 states, plus Washington, DC, use varying progressive tax structures, taxing higher levels of income at higher rates (see exact state tax rates <a href="https://www.nerdwallet.com/blog/taxes/state-income-tax-rates/">here</a>).Below, check out the 15 worst states for your paycheck - based on both a $50,000 and $100,000 salary, which amounts to biweekly pre-tax paychecks of $1,923 and $3,846, respectively.<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/time-money-spent-traffic-per-year-us-cities-new-york-los-angeles-san-francisco-atlanta-2017-2">Here's how much time and money you waste sitting in traffic a year</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="1rNjF5OTE6xmJam22c3FKvPI-8lCnMFD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The US states that take the most from your paycheck

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>In May, we reported on the <a href="http://www.businessinsider.com/salary-required-to-buy-a-home-in-12-us-cities-2014-5">salary needed to buy a home</a> in 12 major U.S. cities, based on first-quarter data analyzed by mortgage website <a href="http://www.hsh.com/finance/mortgage/salary-home-buying-25-cities.html" target="_blank">HSH.com</a>.
The site has updated its data according to 2014 second-quarter numbers, which we've listed here (with the addition of Washington, D.C.).
Spoiler alert: It's only gotten more expensive.
The site looked at median home prices from the <a href="http://www.realtor.org/sites/default/files/reports/2014/embargoes/2014-q2-metro-home-prices/metro-home-prices-q2-2014-single-family-2014-08-12.pdf" target="_blank">National Association of Realtors</a>, along with interest rates for common 30-year, fixed-rate mortgages and property taxes and insurance costs, to figure out how much money it would take to pay a median-priced home's mortgage principal, taxes, and insurance - and how much you would have to earn to afford it.
<a href="http://www.businessinsider.com//salary-needed-to-buy-a-home-in-us-cities-2014-8#detroit-michigan-1" target="_blank">Skip straight to the salaries &gt;&gt;</a>
HSH.com does caveat that of course, property taxes and insurance costs can skew the cost of an individual property. "Also, if other personal debts exceed 8% of a given monthly gross income," the site notes, "this will increase the salary needed to qualify." You can <a href="http://www.hsh.com/finance/mortgage/salary-home-buying-25-cities.html#how-did-we-come-up-with-these-salaries" target="_blank">check out its website</a> for the full methodology.
While HSH's full list includes 27 metro areas in the U.S., here we're presenting the data for 13 of the largest cities, ordered from lowest salary required to highest and rounded to the nearest $500. Note that they're calculating the salary needed to buy, which, if you're married or otherwise splitting the cost, may be your household income.
Can you afford to buy a median-priced home where you live?

Here's The Salary You Have To Earn To Buy A Home In These 13 Major US Cities

<div class="KonaFilter image-container float_right" style="width:400px"><div class="image"><a href="http://www.flickr.com/photos/30800139@N04/3879111346/in/photostream/">Flickr via Dane Khy</a></div></div>It's hard to argue with the fact that stay-at-home <keyword id="6381498" type="COMPANY" weightage="60" keywordseo="parenting">parenting</keyword> is one of the most undervalued careers in the U.S.
Moms (and yes, some dads, too) do double duty as chauffeurs, cooks, psychologists, money managers and more, on average clocking a 94-hour work week, according to <keyword id="256402" type="COMPANY" weightage="60" keywordseo="Salary-com">Salary.com</keyword>.
Based on the 10 most time consuming tasks listed by more than 6,000 <keyword id="28603" type="PERSON" weightage="60" keywordseo="mothers">mothers</keyword>, Salary.com estimated it would cost <a href="http://www.salary.com/whats-mom-worth-pr/" target="_blank">$</a><a href="http://www.salary.com/whats-mom-worth-pr/" target="_blank">113,586 a year</a> to replace them. That's a paltry $624 (0.5%) raise since the same study in 2012. 
To put that in perspective, a physician <a href="http://www.businessinsider.com/in-demand-jobs-that-also-pay-a-lot-of-money-2013-2" target="_blank">earns about $153,000</a> for <a href="http://www.ncbi.nlm.nih.gov/pmc/articles/PMC2915438/" target="_blank">56 hours</a> of work per week.
Salary.com also estimated the value of working mothers' household duties, finding they deserve an extra $67,436 per year for the 58 hours of work they take on outside of their 9-to-5 jobs. That's a meager $457 raise (0.07%) over 2012. 
But here's the sad part -- most mothers don't even give themself that much credit. 
A similar <a href="http://www.insure.com/articles/lifeinsurance/the-mothers-day-index.html">study by Insure.com</a> found that 11% of women valued moms' household work at under $10,000 a year. Just 7% said it was worth a six-figure salary.
Insure.com was far less generous with its salary estimate, pinning the 2013 market value of a mom at $59,862, down for the second year in a row. 
"Just because someone doesn't earn a salary doesn't mean that they don't make significant contributions to the <keyword id="22378" type="ENTERTAINMENT" weightage="60" keywordseo="family">family</keyword> that could be costly to replace," Marvin Feldman, president and CEO of the LIFE Foundation, said. "You must think about whether your spouse could afford to pay someone else to provide these services in your absence." 
It seems the recession was just as damaging to the stay-at-home parent business as other jobs. This year's salary for moms is well below the $138,000 payday Salary.com estimated just six years ago. 
At the same time, salaries for various jobs moms perform for their families -- laundry service, household cleaning, financial management, etc. -- declined as well, which explains why studies like these fluctuate with the economy. 
When the economy tanked, so did the number of stay-at-home moms. In 2010, there were 5 million stay-at-home mothers (and 154,000 dads) in the U.S., down from 5.6 million in 2007, according to the Fiscal Times. A new <a href="http://www.couponcabin.com/blog/mothers-day-survey-working-moms/">survey by CouponCabin</a> found more than half of working mothers consider themselves the primary breadwinners in their household. 
Here's the breakdown of Insure.com's Mother's Day Index: 
<div class="KonaFilter image-container display-table"><div><div class="image"><a href="http://www.insure.com/articles/lifeinsurance/the-mothers-day-index.html">Screengrab/insure.com</a></div></div></div>

You Searched For "Take home salaries" and got 12 results

Take home salaries in India may rise at the cost of employee provident fund

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IT CEOs take home thousand times a maiden employee’s salary

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How much the average person in 40 different countries takes home after taxes

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Dilip Shanghvi, the common man turned Indian billionaire who is taking home a salary of ₹1

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Dilip Shanghvi, the common man turned Indian billionaire who is taking home a salary of ₹1

Four-days work week, full and final settlement within 2 days of exit — new changes at workplaces to reflect from July 1

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Kobe Bryant Will Pay An Estimated $11.4 Million In Taxes This Year Thanks To The 'Jock Tax'

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COVID-19: Nasscom seeks govt help for BPM, GCCs

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The US states that take the most from your paycheck

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Here's The Salary You Have To Earn To Buy A Home In These 13 Major US Cities

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