How Calculate Minimum Wages In Excel Format
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Hi Vivek,You may break up the salary components as Basic + DA + HRA + Conveyance Allowance + Education Allowance + Medical Allowance. PFA contribution may be 15% of the basic.D. Majumder MD, Apisa Biotech Extn Pvt Limited Hyderabad d.majumder@apisa.in
Hi Anish,Now my query is:1\. As per the rule, is the labor department taking the CTC (gross salary) as the minimum wages, or is only the basic taken into account?2\. Should I pay PF for the gross salary, or is the bifurcation of gross salary okay?Thank you for y...
Hi Vivek, you have to follow all the rules of the Factory Act. So, review whatever you have done till today. It's my suggestion to you that you better hire an HR guy so he can handle all the problems. Consultants are a short-term solution for the process.
You can use Basic (Basic + DA) in one term. For example, if 4000 is basic and 300 rs is DA, then you can take 4300 rs as basic. Always use Basic = CTc's 50% for metro and 40% for other locations. HRA = Basic's 50% for metro and 40% for other locations. Conveyanc...
Dear Vivek,What your PF consultant has said is almost correct. At the worst, you may have to add 10% as a conveyance for the purpose of EPF contribution. 30% of HRA can continue. HRA does not attract EPF and can still be included in wages to be considered in Min...
Dear all,I am in Chennai and am paying my employees gross salaries ranging from 4900 to 11350, which are split into 60% basic, 30% HRA, and 10% conveyance. Only recently, I registered under the Factories Act. Now, as per my lawyer, the minimum wages payable unde...
Hi Vivek,It does not matter what breakup you have given, as long as:(a) The gross wages paid are more than the government-declared minimum wages.(b) In case HRA is applicable to you, then please add 5% HRA to the Basic + Spl. All (DA) declared by the government,...
Dear member,You are not required to calculate minimum wages in scheduled employment. Minimum rates of wages are fixed/revised by the appropriate government. You are to implement these rates of wages in your employment if enlisted in the scheduled employment list...
How to calculate minimum wages in scheduled employment?To calculate minimum wages in scheduled employment, you need to consider various factors such as the type of work, skill level required, and prevailing wage rates set by the government. Employers must ensure...
Dear Mr. Khola,My question is: How does the government decide on the minimum wages? What criteria does it use to determine the minimum wages for different categories?Ashutosh Srivastava8851298208