Page 62 - HR Manual 2019
P. 62
HR MANUAL
CHAPTER 8 PROMOTION, PERFORMANCE EVALUATION ET. AL.
________________________________________________________________________________
8.3 Performance Evaluation for Staff Members:
o Pay structure:
o For all new entrants and the employees on consolidated pay, Basic + DA shall be
40% of Cost To Collage(CTC) = Monthly Gross salary + Retirals like PF, ESI,
Gratuity + variable pay like PI, effective July 2019
o However, if the employee’s current Basic + DA amount is higher than 40% of CTC,
then the amount will be revised as per 2018 – 19 increment norms
o HRA shall be 10% of Basic + DA.
o Annual Performance Incentive (PI) - one month gross salary (approx.)
o Administration allowance, hither to paid, shall be merged with Special allowance.
o All employees on consolidated salary will be given regular salary break-up, in order
to utilize the income tax benefits
o Increment cycle July 2018 – June 2019 guidelines:
o The staff member must have completed 12 months in service (at the current
level/grade) or before 30th June 2019 are eligible for the increment
o The staff member who haven’t completed 12 months as 30th June 2019 would be
considered for an increment during next year cycle with pro-rated pay out
o Annual increment will be based on the PI score. ‘Annual increment & PI score
matrix’ would vary every year, based on market condition & individual
performance.
Annual Increment & PI score matrix - 2019
Performance < 41 – 60 – 70 – 80 – 90 – 100
Incentive 40 59 69 79 89
Increment Value Nil 1% 2% 3% 4% 5%
Monthly increase Nil 7% 8% 9% 10% 11%
o A detailed break up o pay structure has been provided in Self-care.
https://vtop9.vit.ac.in/selfcare/ (Menu : Payroll/Loan/TDS Revised Pay
structure)
57 | Page
