Dear members,
It is known that PF contribution is 12% of Basic + DA.
My query is
What is the minimum basic pay to be offered to an employee
keeping minimum wages act 1948 into consideration?
How variable DA is calculated? or do we have to take it from the labour
commissioners office.
eg. A person drawing gross salary of 4000/-
Basic + DA @ 40 % - 1600. So employer contribution is 13.61 of
1600 = 218/-
Is this justified or whether Basic + DA should be minimum 2300?
Throw some light ....anybody
Regards,
Harikeyel
From India, Thiruvananthapuram
It is known that PF contribution is 12% of Basic + DA.
My query is
What is the minimum basic pay to be offered to an employee
keeping minimum wages act 1948 into consideration?
How variable DA is calculated? or do we have to take it from the labour
commissioners office.
eg. A person drawing gross salary of 4000/-
Basic + DA @ 40 % - 1600. So employer contribution is 13.61 of
1600 = 218/-
Is this justified or whether Basic + DA should be minimum 2300?
Throw some light ....anybody
Regards,
Harikeyel
From India, Thiruvananthapuram
Dear member,
Variable DA is fixed according to the cost of living index which We can get from labour dept,employer's assiociation etc.According to the minimum wages act, it insists only total gross salary not basic & Da.It doesn't mean that we have to give fix Basic,Da not less than the amount mentioned in Minimum wages.It only indicates the total salary should not be lessthan that.
With Regards
Bharanithilak
Variable DA is fixed according to the cost of living index which We can get from labour dept,employer's assiociation etc.According to the minimum wages act, it insists only total gross salary not basic & Da.It doesn't mean that we have to give fix Basic,Da not less than the amount mentioned in Minimum wages.It only indicates the total salary should not be lessthan that.
With Regards
Bharanithilak
Dear member,
The minimum wage will depend on the rate fixed by the State government for the different schedules of employment.
You have to check the schedule in which your industry falls and accordingly fix the minimum wage. You can get the figure from the stat labour department.
Regards
Amit
From India, Jamshedpur
1The minimum wage will depend on the rate fixed by the State government for the different schedules of employment.
You have to check the schedule in which your industry falls and accordingly fix the minimum wage. You can get the figure from the stat labour department.
Regards
Amit
From India, Jamshedpur
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Salary Sheet & PF PT Calculation & Challan Nov 2010.xls
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