Consolidated Pay definition
Consolidated Pay means consolidated amount paid towards pay to the employee which includes salary and other allowances.
Consolidated Pay means the sum of fixed component of pay (including all allowances and perks) and variable component of pay linked to performance. The consolidated pay for an year will be referred to as Cost To Company (CTC).
Consolidated Pay means the monthly fixed remuneration which is considered inclusive of D.A. and all other allowances: but which does not fall in any time scale of pay.
Examples of Consolidated Pay in a sentence
If the Account is a Consolidated Pay Account, we will provide the Account Administrator and/or the Business with a paper or electronic Account statement every month unless no payment or transaction has been posted to the Account and no interest or fees have been charged to the Account.
If a Seafarer is normally paid fully consolidated wages then the extra overtime rate shall be calculated as follows: Total Monthly Consolidated Pay divided by 303 and multiplied by 1.5 equals the extra overtime rate to be used when calculating the payment.