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| Message From: bijoy123 |
Total Posts: 13 |
Rank: Beginner |
| Post Date: 08/02/2008 07:48:45 |
Points: 65 |
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Hi,
I am looking for information on COLA (Cost of living allowance) for different cities. Can any one share with me the method of calculating the same and whether it is linked to the salary. Thanks in advance.
Regards,
Bijoy |
| Message From: ruchika_rohilla21 |
Total Posts: 1 |
Rank: Beginner |
| Post Date: 21/05/2008 02:17:31 |
Points: 5 |
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Hi , Im a new member to this group. I also want to know about COLA. Pls Help Regards, Ruchika |
| Message From: jagadish |
Total Posts: 30 |
Rank: Beginner |
| Post Date: 21/05/2008 04:56:25 |
Points: 150 |
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Stipends or extra pay provided to employees who are being temporarily relocated are called cost-of-living adjustments or cost-of-living allowances. Such adjustments are intended to offset changes in welfare due to geographic differences in the cost of living.
Such adjustments might more accurately be described as a per diem allowance or tied to a specific item, as with housing allowances. Employees who are being permanently relocated are less likely to receive such allowances, but may receive a base salary adjustment to reflect local market conditions.
A cost-of-living allowance (COLA) adjusts salaries based on changes in a cost-of-living index. Salaries are typically adjusted annually. Hope this clarifies Jagadish |
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