Hello all
In Karnataka state wage new code implemented or what? if implemented we can make salary breakup as below.
1. Basic & DA 50% On Gross
2. HRA 40% On Basic and DA
3. Conveyance Fixed Rs.1050 as Bangalore BMTC Monthly Pass charge
4. Remaining consider as Other allowance
And EPF calculated from Other then HRA (If we calculate in Basic and DA wage, EPF contribution lesser then Privies Year)
As above points are Legally accepted or any issue Please suggest.
From India , Bangalore
1In Karnataka state wage new code implemented or what? if implemented we can make salary breakup as below.
1. Basic & DA 50% On Gross
2. HRA 40% On Basic and DA
3. Conveyance Fixed Rs.1050 as Bangalore BMTC Monthly Pass charge
4. Remaining consider as Other allowance
And EPF calculated from Other then HRA (If we calculate in Basic and DA wage, EPF contribution lesser then Privies Year)
As above points are Legally accepted or any issue Please suggest.
From India , Bangalore
New Wage Code has not been implemented till date. When it will be implemented, then it will be same for all States in India. There will not be any thing special for Karnataka.
As per definition of Wages under all Labor Codes including Wage codes will be determined as follows:-
1. Determine the CTC of each Employee.
2. Judiciously identify the summation of all Payable amounts expressed in terms of money which is nothing but all remuneration calculated under this clause (WAGES).
3. 50% of item (2) above will be Basic & DA.
4. Other 50% will be Employer's contribution to PF, Statutory Bonus, HRA, Conveyance allowance, LTA if any etc. etc.
5. If it is noticed that Basic & DA is less than 15,000/- per month, then other than HRA and considering all other monthly allowances determine the PF contribution amount accordingly subject to maximum 15,000/- i.e PF contribution 1800/- per month based on FEB, 2019 Apex Court verdict.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
As per definition of Wages under all Labor Codes including Wage codes will be determined as follows:-
1. Determine the CTC of each Employee.
2. Judiciously identify the summation of all Payable amounts expressed in terms of money which is nothing but all remuneration calculated under this clause (WAGES).
3. 50% of item (2) above will be Basic & DA.
4. Other 50% will be Employer's contribution to PF, Statutory Bonus, HRA, Conveyance allowance, LTA if any etc. etc.
5. If it is noticed that Basic & DA is less than 15,000/- per month, then other than HRA and considering all other monthly allowances determine the PF contribution amount accordingly subject to maximum 15,000/- i.e PF contribution 1800/- per month based on FEB, 2019 Apex Court verdict.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
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