Sunday 22 December 2013

Base Salary

Base salary is the pay given to an employee by an employer in return to the work done by the employee for a day or week or any work period. This is the amount fixed by the employer in return of the work done.

The base salary does not include the perks given apart from the amount agreed at the time of the joining. This excludes the bonuses, reward money, benefits or overtime money or any other compensation benefit that is apart from the amount the employer agreed to pay at the time of employment.

This base salary is also used as the basis for calculation of the perks and bonuses and allowances.

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