NOTIFICATION
The Competent Authority based on the recommendations of the Dean’s Committee meeting held on 23.02.2024 has approved partial modification in consultancy overhead norms notified vide IITM/DSRIC/02/2023/08-191, dated : 08.08.2023 as below:
For cases where consultancy fee is not being credited to the PDF of the PI, then the percentage of Overhead 2 (OH02) would be:
15% : for cases wherein only consultancy fee is involved and no other head is there.
20% : for cases where other heads are involved along with consultancy fee.
View above, Notification No.IITM/DSRIC/02/2023/08-191, dated : 08.08.2023 (https://insite.iitmandi.ac.in/circulars/show.php?ID=IITM/DSRIC/02/2023/08-191)stands superseded and revised overhead norms for Consultancy projects shall be:
Applicable Overheads:
|
Sr. No. |
Consultancy fee |
Overhead on total grant received (OH1) |
Overhead on total of Honorarium & Consultancy Fee (OH2) |
|
1 |
If consultancy fee is credited by the PI to Professional Development Fund (PDF) |
10% |
10% |
|
2 |
If consultancy fee is not credited to PDF by the PI:- |
10% |
15 or 20%
|
* In case Contingency head is later used for honorarium then 20% of the honorarium value shall be deducted as Overhead.
Sample calculations:
|
Head |
Amount |
|
|
|
Consultancy Fee/Honorarium |
C |
C will have 2 components:
|
|
|
Equipment |
E |
|
|
|
Travel |
T |
|
|
|
Consumables |
Cons. |
|
|
|
Contingency |
Cont. |
|
|
|
Others |
O |
|
|
|
|
|
|
|
|
Total Grant |
=C+E+T+Cons.+Cont.+O |
|
|
|
OH1 |
=10% of Total Grant |
|
|
|
Final Value |
=Total Grant +OH1 |
|
|
|
GST (@18% / as applicable/ as per Govt. Norms) |
=0.18*Final Value |
|
|
|
Invoice Value (Inclusive of GST) |
=Final Value + applicable GST |
|
|
Assistant Registrar
SRIC & IR
1. Directorate
2. All faculty member.
3. All Staff members
4. Institute Website
5. Guard File
