Dear Seniors, what is "cash value of the wages paid in kind"? under form III minimum wages act.
From India, Gurgaon
1From India, Gurgaon
Dear Talib,
I would like your conjunctive reading of Rule 20 and Foot note to the particular at sl.no.6 of Form-III of the Minimum Wages (Central ) Rules,1950.
Cash value of the wages paid in kind = Cost Price paid by the employer - minus - Actual Price paid by the employee.
From India, Salem
I would like your conjunctive reading of Rule 20 and Foot note to the particular at sl.no.6 of Form-III of the Minimum Wages (Central ) Rules,1950.
Cash value of the wages paid in kind = Cost Price paid by the employer - minus - Actual Price paid by the employee.
From India, Salem
Dear Sir,
I read it (*** Cash value of the wages paid in kind should be obtained by taking the difference between the cost price paid by employer and the actual price paid by the employee for supplies of essential commodities given at concessional rates)
But i do not understand this properly.
Suppose
1. my salary is Basic-10000, HRA-6000, Conveyance-4000, others-3000
2. I worked full day in that year.
Then how will i compute Cash value of the wages paid in kind
From India, Gurgaon
I read it (*** Cash value of the wages paid in kind should be obtained by taking the difference between the cost price paid by employer and the actual price paid by the employee for supplies of essential commodities given at concessional rates)
But i do not understand this properly.
Suppose
1. my salary is Basic-10000, HRA-6000, Conveyance-4000, others-3000
2. I worked full day in that year.
Then how will i compute Cash value of the wages paid in kind
From India, Gurgaon
Dear Mohmed Talib,
I do not find the supply of anything in kind like essential commodities by the employer as part of your salary in your illustration. Such practice is in vogue in certain industries like Plantation Industry and industries situated in interior areas far away from main lands. So, you need not rack up your brain unnecessarily just because of the presence of such a column in the Annual Return form under the Act. Simply mark " does not arise " in such columns as your industry does not have such a practice.
From India, Salem
I do not find the supply of anything in kind like essential commodities by the employer as part of your salary in your illustration. Such practice is in vogue in certain industries like Plantation Industry and industries situated in interior areas far away from main lands. So, you need not rack up your brain unnecessarily just because of the presence of such a column in the Annual Return form under the Act. Simply mark " does not arise " in such columns as your industry does not have such a practice.
From India, Salem
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