Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT RATES :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: due date for vat payment :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: cpt :: VAT Audit :: form 3cd :: list of goods taxed at 4%
 
 
« News Headlines »
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it
 No tax on notice period pay cut
 Interpretation Of Central Goods And Services Tax (Cgst) Act (Part-1)
 What to do if you haven’t filed your taxes
 Income Tax Declaration To Employer: 10 Changes You Should Be Aware Of
 What your income tax says about you
 Self e-filing of income tax returns
 Why do we get 3 extra days to file income tax returns in 2017?
 Income Tax department launches 'Operation Clean Money'-II
 Here’s how to e-file your income tax return

Salaried fast catching up with fee-earners
December, 07th 2006
Thanks to rapid economic development, the qualified among the salaried class have found their pot of gold.

A couple of decades ago, a monthly salary of Rs 3,000 or more begot a special mention in the annual report of the company that held its readers in a thrall. It is a commentary on the spiralling salaries that today only Rs 2 lakh or more per month begets such a mention in the esoteric list of high-paid employees.

One is accustomed to astronomical sums being bandied about in the context of film stars, doctors, lawyers, architects and other professionals who may be compendiously described as fee earners.

Till a decade ago, a five-figure salary was a stuff of legends. But with rapid economic development through the liberalisation route, the qualified among the salaried class have found their pot of gold.

To be sure, this is a good augury because not only does it narrow the huge disparities in the income levels between professionals and the salaried class but more importantly because it drives home the advantage of quality education.

Already there are reports that the spiralling salary bill, especially in the technology-driven industries, is largely due to shortage of talented persons. And this is likely to be accentuated should the government trifle with universities and institutes of higher learning, marginalising in the process the meritocracy.

Be that as it may, at least two spin-offs are there for everyone to see as a result of the due recognition given to talented employees. First, young NRIs are returning home though not in droves.

What is pulling them back is the real prospect of eking out a comfortable living without having to deposit their elders in old-age homes and otherwise missing out on the home and social front.

The steadily improving living conditions, though no where near the standards in the West, are also a contributory factor in this welcome return back to one's motherland. With NRI retracing their steps, the vexed problem of brain drain may no longer bother the government and society what with wannabe emigrants also losing fascination for foreign jobs.

Second, youngsters, albeit under parental pressure, would most certainly be less glamour-struck what with there being stars among the educated class as well.

It is not as if astronomical salaries running into crores of rupees is ubiquitous and all-pervasive. On the contrary, only a minuscule percentage of the white-collared employees are the beneficiaries of this loosening of purse strings by the employers. Obviously this has created a huge gulf among the employees working for the same company with those left behind seething in resentment.

But there is a positive spin off in this resentment too they are egging their children to take education seriously and spare no efforts in giving them the best when it comes to education unmindful of the expenses, thus viewing in the process education as the wisest investment.

S. Murlidharan
(The author is a Delhi-based chartered accountant.)

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Careers

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions