https://www.taxtmi.com/acts?id=20037 Guidance under Cost Accounting Standard 7 (Employee Cost) lays down principles for classification, measurement, assignment, presentation and disclosure of employee cost in cost statements. Employee cost includes wages, salaries, allowances, bonus, incentives, employer contributions, welfare benefits, retirement and separation benefits, while excluding imputed costs, contractor payments, prior-period dispute payments, penalties, damages, and material abnormal costs. The guidance distinguishes direct and indirect employee cost, and provides for allocation of benefits and other employee-related costs on appropriate bases such as employee numbers, cost centres, time consumed or hourly rates. Direct employee cost is presented separately, indirect employee cost under relevant overheads, and material items must be disclosed. en-us Fri, 11 Sep 2015 18:01:24 +0530 Thu, 23 Apr 2026 17:15:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20037 Guidance under Cost Accounting Standard 7 (Employee Cost) lays down principles for classification, measurement, assignment, presentation and disclosure of employee cost in cost statements. Employee cost includes wages, salaries, allowances, bonus, incentives, employer contributions, welfare benefits, retirement and separation benefits, while excluding imputed costs, contractor payments, prior-period dispute payments, penalties, damages, and material abnormal costs. The guidance distinguishes direct and indirect employee cost, and provides for allocation of benefits and other employee-related costs on appropriate bases such as employee numbers, cost centres, time consumed or hourly rates. Direct employee cost is presented separately, indirect employee cost under relevant overheads, and material items must be disclosed. Act-Rules Companies Law Fri, 11 Sep 2015 18:01:24 +0530 https://www.taxtmi.com/acts?id=20037