Dear All Kindly share the current Minimum wages For Data entry operators in maharashtra state. thanks & regards
From India, Pune
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2From India, Pune
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Thank you very much for your reply.
I have calculated the minimum wages for DEO (Shop & Shops & Commercial Establishments) in Mumbai, which falls under Zone-I. Have I calculated the minimum wages for DEO correctly? Please guide me.
A private company has requested our company to provide DEO rates in compliance with the Minimum Wages Act of 1948 and other applicable acts, inclusive of all taxes. The details are enclosed in the Excel sheet.
I kindly request your assistance. Thank you in advance.
From India, Pune
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I have calculated the minimum wages for DEO (Shop & Shops & Commercial Establishments) in Mumbai, which falls under Zone-I. Have I calculated the minimum wages for DEO correctly? Please guide me.
A private company has requested our company to provide DEO rates in compliance with the Minimum Wages Act of 1948 and other applicable acts, inclusive of all taxes. The details are enclosed in the Excel sheet.
I kindly request your assistance. Thank you in advance.
From India, Pune
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Dear Db Bose,
It seems to me that you need to make your concepts clear on what wages are and their components - statutory/non-statutory, including the earning part and deduction part. Differentiate how wages are distinct from company costs.
Additionally, you need to answer the following questions for yourself:
1. How is service tax applicable to employment or wages?
2. How is TDS applied when wages per annum are less than one lakh?
3. What are cess and duty, and how are they applicable to employment or wages?
To assist you in reaching a conclusion, please find attached the wage structure with the cost to the company. Kindly review it to clarify your understanding.
Kind regards, [Your Name]
From India, Mumbai
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It seems to me that you need to make your concepts clear on what wages are and their components - statutory/non-statutory, including the earning part and deduction part. Differentiate how wages are distinct from company costs.
Additionally, you need to answer the following questions for yourself:
1. How is service tax applicable to employment or wages?
2. How is TDS applied when wages per annum are less than one lakh?
3. What are cess and duty, and how are they applicable to employment or wages?
To assist you in reaching a conclusion, please find attached the wage structure with the cost to the company. Kindly review it to clarify your understanding.
Kind regards, [Your Name]
From India, Mumbai
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Your working is correct, except that you do not have ESIC. ESIC is compulsory for all your staff, so it's better to factor it in. Also, I see no profit margin in your working, which is strange.
Korgaonkar, when the contractor raises his bill, he needs to add service tax to the whole bill and pay that to the government. So he needs to include that as well. Furthermore, the amount paid to him will have less TDS at 10%. If he does not include that, his cash flow will be completely wrecked. He will actually receive only 90% of his bill, so the working is correct.
From India, Mumbai
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Korgaonkar, when the contractor raises his bill, he needs to add service tax to the whole bill and pay that to the government. So he needs to include that as well. Furthermore, the amount paid to him will have less TDS at 10%. If he does not include that, his cash flow will be completely wrecked. He will actually receive only 90% of his bill, so the working is correct.
From India, Mumbai
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Dear Saswata ji,
Thanks for your contribution. Inadvertently, I missed out on the above statement of the queriest while reading and responded.
In that case, the contracting company can add service tax at 14% to their billing, provided the company is registered under Service Tax. TDS will be deducted by the paying party at the applicable rate. How does the queriest add Income Tax @ 10% in the bill? How does the queriest add P.Tax @ 200 in his bill?
You have rightly asked the queriest where the profit margin is. He has to add it in the head, either as service charges or contract fee.
You need to re-look at your above statement.
From India, Mumbai
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Thanks for your contribution. Inadvertently, I missed out on the above statement of the queriest while reading and responded.
In that case, the contracting company can add service tax at 14% to their billing, provided the company is registered under Service Tax. TDS will be deducted by the paying party at the applicable rate. How does the queriest add Income Tax @ 10% in the bill? How does the queriest add P.Tax @ 200 in his bill?
You have rightly asked the queriest where the profit margin is. He has to add it in the head, either as service charges or contract fee.
You need to re-look at your above statement.
From India, Mumbai
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Since TDS will be deducted, he is not getting that money. Even if he gets a refund, that will come after 3 years. So in effect, we count TDS as a cost (or at least a cash outflow). That is why TDS amount is added as a cost to the bill.
I think you should look at my statement from an auditor's report perspective... Subject to my comments and qualifications that follow, the books of accounts reflect the true and fair view of the company. Similarly, subject to my qualification of errors I listed, the working is correct :-)
From India, Mumbai
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I think you should look at my statement from an auditor's report perspective... Subject to my comments and qualifications that follow, the books of accounts reflect the true and fair view of the company. Similarly, subject to my qualification of errors I listed, the working is correct :-)
From India, Mumbai
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Dear Db Bose,
Please let me know if you receive TDS reimbursement from your client. I am also interested in approaching such clients to generate business.
Thank you.
From India, Mumbai
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Please let me know if you receive TDS reimbursement from your client. I am also interested in approaching such clients to generate business.
Thank you.
From India, Mumbai
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Sir,
It's basically a question of negotiation. When you talk about costs/fees, you put in a profit margin. At that time, the client will start to complain, saying it is high, etc. You need to then clarify and show that the actual amount you are receiving is only 90% of the billing. So, where is the margin left? Therefore, either add 10% to the cost or give me a 10% higher margin.
For the clients for whom we work on a cost-plus basis, we add TDS to the cost or increase the agreed margin by that much.
From India, Mumbai
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It's basically a question of negotiation. When you talk about costs/fees, you put in a profit margin. At that time, the client will start to complain, saying it is high, etc. You need to then clarify and show that the actual amount you are receiving is only 90% of the billing. So, where is the margin left? Therefore, either add 10% to the cost or give me a 10% higher margin.
For the clients for whom we work on a cost-plus basis, we add TDS to the cost or increase the agreed margin by that much.
From India, Mumbai
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Dear Saswata ji,
With due respect to you, Sir, I would like to inquire why 10 percent? It should be 30. My tax liability is 30 percent.
From India, Mumbai
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With due respect to you, Sir, I would like to inquire why 10 percent? It should be 30. My tax liability is 30 percent.
From India, Mumbai
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Your tax liability is 30% of the 10% 'profit margin, or even less. That is an acceptable part of doing business, and I pay tax on actual profit. The effective tax rate on the contract would be not more than 1-2%.
But now that you say, TDS on a labor contract is only 2%, not 10%. In our contracts, it is 10% because we come under professional fees and now to labor contract.
From India, Mumbai
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But now that you say, TDS on a labor contract is only 2%, not 10%. In our contracts, it is 10% because we come under professional fees and now to labor contract.
From India, Mumbai
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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