Can anyone help me ........... Minimum wages is equivalent to gross or basic salary Kindly help me to prepare the salary structure
From India, New Delhi
From India, New Delhi
Dear All, Kindly advice me minimum wages is equal to basic salary or gross salary
From India, New Delhi
From India, New Delhi
Dear Kushboo,
The sum total of the gross industry wages minus those of the excluded items mentioned u/s 2(h) of the Minimum Wages Act,1948 should be equal to the sum total of the statutory minimum wages.
From India, Salem
6018The sum total of the gross industry wages minus those of the excluded items mentioned u/s 2(h) of the Minimum Wages Act,1948 should be equal to the sum total of the statutory minimum wages.
From India, Salem
Dear colleague,
The Minimum Wages under the Act consists of Basic and Special Allowance ( Dearness Allowance).
Therefore , they are not considered gross wages.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
The Minimum Wages under the Act consists of Basic and Special Allowance ( Dearness Allowance).
Therefore , they are not considered gross wages.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
As per new code on wages:
Section 7. (1) Any minimum rate of wages fixed or revised by the appropriate Government
under section 8 may consist of––
(a) a basic rate of wages and an allowance at a rate to be adjusted, at such
intervals and in such manner as the appropriate Government may direct, to accord as
nearly as practicable with the variation in the cost of living index number applicable to
such workers (hereinafter referred to as "cost of living allowance"); or
(b) a basic rate of wages with or without the cost of living allowance, and the
cash value of the concessions in respect of supplies of essential commodities at
concession rates, where so authorised; or
(c) an all-inclusive rate allowing for the basic rate, the cost of living allowance
and the cash value of the concessions, if any.
Therefore, the Minimum wages is equivalent to basic salary.
From India, Mumbai
Section 7. (1) Any minimum rate of wages fixed or revised by the appropriate Government
under section 8 may consist of––
(a) a basic rate of wages and an allowance at a rate to be adjusted, at such
intervals and in such manner as the appropriate Government may direct, to accord as
nearly as practicable with the variation in the cost of living index number applicable to
such workers (hereinafter referred to as "cost of living allowance"); or
(b) a basic rate of wages with or without the cost of living allowance, and the
cash value of the concessions in respect of supplies of essential commodities at
concession rates, where so authorised; or
(c) an all-inclusive rate allowing for the basic rate, the cost of living allowance
and the cash value of the concessions, if any.
Therefore, the Minimum wages is equivalent to basic salary.
From India, Mumbai
As per present definition of Minimum wages - it includes Basic, DA(Special Allowance where ever applicable ) and HRA. Different States are publishing Minimum wages as Basic and DA in most of the cases. There are States where HRA as State Act is applicable.
As per New Wage Code it is only Basic and DA. HRA has not been considered.
In both the above cases many organizations are considering only Basic as Minimum wages but it should not be less than the published Minimum wages of the States.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
From India, New Delhi
As per New Wage Code it is only Basic and DA. HRA has not been considered.
In both the above cases many organizations are considering only Basic as Minimum wages but it should not be less than the published Minimum wages of the States.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
From India, New Delhi
Friends, who are referring Sec 4 of minimum wages act 1948, stating Basic Rate of Wages + DA.
Can anyone confirmed what is the definition of "Basic Rate of Wages", does it mean "Your Basic Salary" ? If it Basic Salary, so what is relevant to give "Wage Definition" under section 2 (h).
Yes, it is agreed Minimum Wages = Basic is good to have.
But it is mandatory ? that is the question.
From India, Kolkata
Can anyone confirmed what is the definition of "Basic Rate of Wages", does it mean "Your Basic Salary" ? If it Basic Salary, so what is relevant to give "Wage Definition" under section 2 (h).
Yes, it is agreed Minimum Wages = Basic is good to have.
But it is mandatory ? that is the question.
From India, Kolkata
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Delhi - Minimum Wages w.e.f. 01.10.2012 (1).pdf
Minimum Wages in Maharashtra for the period January 2018 to June 2018.xls