The VPF contribution limit defines how much an employee can voluntarily contribute to their Provident Fund in addition to the standard EPF contribution. Employees can contribute up to 100% of their basic salary and dearness allowance. VPF offers the same interest rate and tax benefits as EPF, making it a popular long-term savings option.
Volunteering leave allows employees to take time off work to engage in social, charitable, or community activities. It is often part of an organization’s CSR or employee well-being initiatives. This type of leave encourages social responsibility and employee engagement.
Total remuneration includes all forms of compensation an employee receives from an employer. This goes beyond base salary to include bonuses, allowances, benefits, and incentives. It provides a full picture of an employee’s overall earnings and value.
Temp-to-hire is a hiring model where candidates are initially employed on a temporary basis. Employers evaluate their performance, skills, and cultural fit before offering a permanent role. This approach reduces hiring risk and improves long-term fit.
A taxable allowance is an additional payment made to employees that is included in taxable income. Common examples include special allowance, city compensatory allowance, or overtime pay. These allowances increase an employee’s gross salary and are taxed as per income tax rules.
Tax Deduction at Source, or TDS, is a system where tax is deducted by the payer before making certain payments. The deducted amount is then submitted to the government on behalf of the recipient. TDS helps ensure timely tax collection and reduces tax evasion.
Talent retention focuses on strategies used to prevent valuable employees from leaving an organization. It includes career growth, compensation, work culture, and employee engagement efforts. Strong talent retention improves stability, productivity, and long-term success.
A skill matrix is a structured chart that lists required skills and employee competency levels. It helps managers identify strengths, skill gaps, and training needs. Organizations use skill matrices for resource planning, upskilling, and succession planning.
Situational leadership is a management model that suggests no single leadership style works in all situations. Leaders adjust their approach based on an employee’s competence and confidence. This flexibility helps improve performance, engagement, and development.
Self review allows employees to reflect on their performance over a specific period. It helps them identify accomplishments, challenges, and development needs. Organizations use self reviews to encourage accountability and balanced performance discussions.
Selection ratio measures how many applicants are selected out of the total number who applied for a job. It helps organizations understand hiring efficiency and competition for a role. A lower selection ratio usually indicates a more competitive recruitment process.
RPO, or Recruitment Process Outsourcing, is an HR model where an external provider manages recruitment activities. This can include sourcing, screening, interviewing, and onboarding support. RPO helps organizations scale hiring efficiently while reducing costs and time to hire.
The full form of RIF is Reduction in Force. It refers to the elimination of positions to reduce costs or restructure operations. RIFs are typically driven by business needs rather than individual employee performance.
Retro adjustment is a payroll correction made to compensate employees for changes effective in earlier periods. It often occurs after salary hikes, promotions, or payroll errors. This adjustment ensures employees receive the correct pay for past work.
A requisition form is a formal request submitted within an organization for approval. In hiring, it is used to request permission to fill a new or vacant role. It helps ensure proper authorization, budgeting, and documentation before action is taken.
Reference check involves contacting a candidate’s former managers or colleagues to confirm work experience and performance. It helps employers validate information shared during interviews. Reference checks are usually done in the final stages of hiring.
Purple unicorn is a hiring term used to describe a candidate who meets all job requirements flawlessly. Such candidates are considered rare and often unrealistic to find. The term highlights the need for flexible hiring expectations and skill prioritization.
A pulse survey is a quick feedback tool used to gather employee opinions on a regular basis. It focuses on specific topics like engagement, well-being, or workplace culture. Organizations use pulse surveys to identify issues early and respond faster.
PPF, or Public Provident Fund, is a government-backed savings scheme in India designed for long-term financial security. It offers attractive interest rates along with tax benefits under Section 80C. PPF is commonly used for retirement planning and wealth creation.
Peer to peer review involves colleagues reviewing and providing feedback on each other’s work or performance. It promotes transparency, shared learning, and continuous improvement. This approach is commonly used in performance management and team-based environments.