Dear Sir,
whether there is any limitation for Staff Cadre on the amount of basic in a CTC that it should not be less than the Minimum Wages prevailing in the indusrty.
for example :
CTC Amount : 7000 per month
Basic Amt (40% of CTC ) : 2800 /- < which is lesser than the current MW>
HRA Amt (40% of Basic) :1120/-
Conveyance fixed : 800/-
Special Allowance :1343/-
Monthly Gross :6063/-
Note : Uploaded the CTC file for better picture.
Regards
Nishikant
From India, Surat
13whether there is any limitation for Staff Cadre on the amount of basic in a CTC that it should not be less than the Minimum Wages prevailing in the indusrty.
for example :
CTC Amount : 7000 per month
Basic Amt (40% of CTC ) : 2800 /- < which is lesser than the current MW>
HRA Amt (40% of Basic) :1120/-
Conveyance fixed : 800/-
Special Allowance :1343/-
Monthly Gross :6063/-
Note : Uploaded the CTC file for better picture.
Regards
Nishikant
From India, Surat
Basic wages should not be less than mininmum wages for PF contributions and also for other statutory obligations of the employer. regards, Kamal
From India, Pune
From India, Pune
Sir,
Minimum Wages is declared by the concerned state Government for personnel up to the level of Managers. Hence, the Basic and DA should be above Minimum wages. This is a pre-requisite for calculation of EPF also.In your case pls refer the Minimum Wages Notification of the State Government effective from April 01, 2011. However, to be safer, fix the basic to 50% of Gross.
From India, Bangalore
Minimum Wages is declared by the concerned state Government for personnel up to the level of Managers. Hence, the Basic and DA should be above Minimum wages. This is a pre-requisite for calculation of EPF also.In your case pls refer the Minimum Wages Notification of the State Government effective from April 01, 2011. However, to be safer, fix the basic to 50% of Gross.
From India, Bangalore
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