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Legal Issues in Compensation

Legal Issues in Compensation

Legal Issues in Compensation- The laws of compensation and work hours are very complex. An employer with best intentions could also commit mistakes while going through the various terms and conditions. Federal and state laws take the issue of an employer to trust on the requirements in such a favorable manner for most of the employees. It is really tough to judge which employees are perfectly immune and not exempt from the lowest amount of wage.

Compensation and Income Tax Act, 1961

Income under heads of salary is defined as remuneration received by an individual for services rendered by him to undertake a contract whether it is expressed or implied. According to the Income Tax Act 1961, these are the following conditions where all such remunerations are chargeable to income tax:

Under Section 197 of the Income Tax Act, 1961 the income which come under the heads of salary are as follows:

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