Merciglobal Systems Pvt. Ltd. – Salary & Salary Slip Policy¶
Effective Date: 29th June, 2024 · Revised: 1st October, 2026
1. Purpose¶
This policy sets out how salary is calculated from attendance, how it is paid and how the salary slip is issued. It also covers compliance with statutory requirements. The aim is timely and transparent salary payments to all employees of Merciglobal Systems Pvt. Ltd.
2. Scope¶
This policy applies to all permanent, probationary and contractual employees of the organisation.
3. Salary Structure¶
- Salary is structured as per the terms in the employee's appointment letter.
- The salary package may consist of:
- Basic Pay
- Conveyance / Travel Allowance
- Special Allowances
- Performance-based Incentives
- Deductions (PF, ESI, Professional Tax, Income Tax, etc.)
4. How Monthly Salary Is Calculated¶
Salary is calculated from the month's attendance. See Office Timings & Attendance.
| Step | Calculation |
|---|---|
| Working days | Days in the month minus Sundays and declared holidays |
| Per-day salary | Monthly salary ÷ working days |
| Full-day pay | Full days × per-day salary |
| Half-day pay | Half days × ½ × per-day salary |
| Gross payable | Full-day pay + half-day pay |
| Less: absence without approved leave | Days absent without an approved leave × per-day salary. This is the double deduction. |
| Less: Professional tax | As applicable |
| Add: Travel reimbursement & meeting expenses | Approved client-visit km × the approved rate, plus approved meeting expenses |
| Net payable | Gross payable − deductions + reimbursements |
4.1 Absent Days¶
- Every absent day is unpaid, including a day on approved leave. It is simply left out of gross payable. Approved leave within the paid-leave entitlement is reimbursed annually, as per the Leave Policy.
- Absence without an approved leave costs one more day's pay (double deduction), from 31st August, 2026. This includes:
- absence without applying, and leave that was rejected;
- Medical Leave whose treatment documents were not uploaded within 7 days after the leave, or were rejected. See Medical Leave & Documents.
- A half day (punch-in after 09:50 AM) is paid at half the per-day salary.
4.2 Example¶
Monthly salary ₹26,000, 26 working days → per-day salary ₹1,000. 22 full days, 2 half days, 1 day on approved leave, 1 day absent without leave:
| ₹ | |
|---|---|
| Full-day pay (22 × 1,000) | 22,000 |
| Half-day pay (2 × ½ × 1,000) | 1,000 |
| Gross payable | 23,000 |
| Less: absence without approved leave (1 day) | − 1,000 |
| Less: Professional tax | − 200 |
| Net payable | 21,800 |
5. Salary Slip¶
Every employee receives a salary slip each month by e-mail, as a PDF. It shows:
- employee name, emp code, period and working days;
- the count of Full days, Half days and Absent days;
- Monthly salary, per-day salary, full-day pay and half-day pay;
- any double deduction, listing the dates. Medical Leave days lost because documents were not submitted are shown separately;
- professional tax, and any travel reimbursement / meeting expenses added;
- Net payable, in figures and in words;
- Advances outstanding: travel advances not yet adjusted against an expense voucher. These are listed for information only and are not deducted from the salary.
Check your slip as soon as you receive it, and raise any discrepancy with HR straight away.
6. Payment Cycle¶
- Salaries are processed monthly.
- Salary will be credited on or before the 10th working day of each month for the preceding month.
- Any change in the payment date will be communicated by HR/Finance in advance.
- Attendance corrections must reach HR before the salary is processed. Once a month's salary is marked paid, that month's attendance and salary slip are locked and are not changed afterwards.
7. Mode of Payment¶
- All salaries are paid by bank transfer to the employee's designated salary account.
- No cash payments will be made.
8. Statutory Deductions¶
- Deductions such as Professional Tax (PT) and Income Tax (TDS) are made in compliance with applicable laws.
- Employees must provide the investment proofs needed for tax benefits within the stated timelines.
9. Incentives & Bonuses¶
- Performance-linked incentives, bonuses or commission are paid as per the company's incentive policy and timelines.
- Such payments may not follow the regular salary cycle and will be communicated separately.
10. Full & Final Settlement¶
- On resignation, termination or retirement, the final settlement is processed within 30 working days of the employee's exit clearance, as per the Exit Policy.
- It includes pending salary, gratuity (if applicable) and any other dues.
11. Policy Review¶
The HR & Finance Department will review this policy annually to ensure compliance with labour laws and organisational practices.