Dear All,
How to calculate dearness allowance, HR allowance, medical allowance, PF, and ESI from the basic salary for a textile spinning mill? This is to develop software for the textile spinning mill.
Regards,
SS. Tinakaran
From India, Sivakasi
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How to calculate dearness allowance, HR allowance, medical allowance, PF, and ESI from the basic salary for a textile spinning mill? This is to develop software for the textile spinning mill.
Regards,
SS. Tinakaran
From India, Sivakasi
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Hi Girish,
Please suggest the method for calculating PF, ESI, DA, HR Allowance, and medical allowances in all industries. Additionally, kindly list the necessary forms required for each activity.
I look forward to your prompt response along with an Excel sheet containing the calculation formulas.
Regards,
Girish
From India, New Delhi
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Please suggest the method for calculating PF, ESI, DA, HR Allowance, and medical allowances in all industries. Additionally, kindly list the necessary forms required for each activity.
I look forward to your prompt response along with an Excel sheet containing the calculation formulas.
Regards,
Girish
From India, New Delhi
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Please guide me on how we can calculate DA, HR Allowance, medical allowances in all industries. Also, please mention the forms required for each activity. However, some companies or organizations calculate HRA at 20%, 25%, 28%, and 80% (the rate of HRA being 50% for metro cities and 40% for others of basic salary, and the same is applicable for DA and others – please inform us on what basis they calculate these rates).
I am awaiting your prompt reply with an Excel sheet of calculation formulas.
From India, New Delhi
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1I am awaiting your prompt reply with an Excel sheet of calculation formulas.
From India, New Delhi
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any on plz guide me on above query. It has been gone several month to post this but no one reply my question plzzzzzzzzzzzzzzzzzzzz reply
From India, New Delhi
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From India, New Delhi
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Hi,
You must understand the basic concept of dearness allowance. It is a payment towards the rise in the cost of living, which is calculated based on the cost of living index.
As regards the minimum wages, the State government or the central Government makes a notification, and payment is to be made. Regarding payment at a higher level, the company can formulate its scheme for the payment of dearness allowance. It can be a fixed percentage of the basic pay or on a sliding scale, as per the company's scheme and policy.
Please remember, once the company is paying more than the minimum wages, it can formulate its scheme for the payment of dearness allowance. Needless to say, all other factors like region, industry, capacity to pay, etc., are taken into consideration by the company.
There is a difference between the government and public sector undertakings paying DA and private or limited companies paying DA.
Dearness Allowance (DA) is the allowance paid to employees due to the rise in market prices.
Generally, DA is calculated as the rise in the consumer price index. DA is connected with the basic pay; generally, it is a percentage of basic pay.
SUPPOSE WE TAKE A BASE CPI AS 2460
CURRENT CPI IS 3460 THEN RISE = 1000 THEN RISE 1000/2460*100 = 40.65%
Then DA will be 40.65% of Basic.
Hope this helps,
Regards, Soundar
From India, Raipur
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You must understand the basic concept of dearness allowance. It is a payment towards the rise in the cost of living, which is calculated based on the cost of living index.
As regards the minimum wages, the State government or the central Government makes a notification, and payment is to be made. Regarding payment at a higher level, the company can formulate its scheme for the payment of dearness allowance. It can be a fixed percentage of the basic pay or on a sliding scale, as per the company's scheme and policy.
Please remember, once the company is paying more than the minimum wages, it can formulate its scheme for the payment of dearness allowance. Needless to say, all other factors like region, industry, capacity to pay, etc., are taken into consideration by the company.
There is a difference between the government and public sector undertakings paying DA and private or limited companies paying DA.
Dearness Allowance (DA) is the allowance paid to employees due to the rise in market prices.
Generally, DA is calculated as the rise in the consumer price index. DA is connected with the basic pay; generally, it is a percentage of basic pay.
SUPPOSE WE TAKE A BASE CPI AS 2460
CURRENT CPI IS 3460 THEN RISE = 1000 THEN RISE 1000/2460*100 = 40.65%
Then DA will be 40.65% of Basic.
Hope this helps,
Regards, Soundar
From India, Raipur
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