Bifurcation Of Minimum Wages
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Dear PKG,The Minimum Wages have taken care of Basic Pay, Dearness Allowance, House Rent Allowance, and other allowances. It is the responsibility of the concerned State Government to declare the Minimum Wages for different types of industries and different categ...
Dear PG,As far as I know, the term "Minimum Wages" suggests that the wage/salary is the minimum net payment you make to your employee. In other words, irrespective of the compensation category it is paid in, the net amount must not be less than the mandatory Min...
Dear Hitesh,Just to enlighten you on the subject, the Minimum Wages can be bifurcated into various heads, as long as the bifurcation is done within the meaning of "WAGES", i.e., Basic, DA, HRA, etc. Hope you will now be wiser in computing a salary structure.Rega...
Hi,Please provide clarification on the bifurcation of gross salary. Is it necessary to include 50% of the basic salary in the gross salary? If so, please send the Government Order as per the act, or provide further clarity.
Dear Friends,As per the above discussion, all viewpoints are correct from a market perspective or in terms of companies bifurcating minimum wages. However, according to labor law, it is noted that Minimum Wages are equal to Basic Wage + Dearness Allowance and sh...
Dear Friends,After considering all the discussions above, it is clear that they are correct from the market perspective or from the perspective of companies bifurcating minimum wages. However, it is important to note that according to labor law, Minimum Wages co...
Dear All,I think whether you bifurcate the minimum amount of wages or not depends on company policy. We just have to ensure that the employee is paid the minimum rate fixed by the government. Accordingly, we have to calculate the PF.Regards,Namrata
Dear Amit,Minimum wages can be further broken down into various components, but the Basic+Fixed DA portion should comprise the majority percentage unless there is a union agreement or settlement in this regard, taking a progressive view. For example: Basic + Fix...
Dear Seniors,Please read the Swastik73 box. All allowances are included in the Wages definition. So, we can bifurcate the minimum wages (this is my view). However, the lawmakers are confused about many things in labor law. Labor laws should be revised without an...
Dear Friend,There is one judgment popularly known as the Air-Freight Case wherein the Supreme Court has decided that Minimum Wages should be treated as one component only and not to be divided.Regards