Dear All,
I am Rao, I have joined a new orgasation 10 days ago, I would like to reveision of minimum rates of wages as per the factories act. That would be a use benfit for all employees thoese who are working since long time. Kindly advice me how to re-structure the salary i.e %basic, % DA, % HRA, % Conv and % other allowances
Thanks for advice
With Regards
M.V. Rao
From India, Hyderabad
I am Rao, I have joined a new orgasation 10 days ago, I would like to reveision of minimum rates of wages as per the factories act. That would be a use benfit for all employees thoese who are working since long time. Kindly advice me how to re-structure the salary i.e %basic, % DA, % HRA, % Conv and % other allowances
Thanks for advice
With Regards
M.V. Rao
From India, Hyderabad
There is no fixed structure comapny does fix the same as as it’s own stansard & culture. Keep in mind that Basic Wages should be nearly to Minimum Wages
From India, Pune
46From India, Pune
*Dear
This is to inform you that we are not to do any revision of minimum rates of wages in accordance with the requirement of the Factories Act. The revision in minimum rates of wages is done by the appropriate Govt. we are to implement the notification of minimum rates of wages if this Act is applicable to us. Plz go through the declared minimum rates of wages as applicable to your employment & see whether you are allowed to do any bifurcation in wages or not.
With Regards,
R.N.Khola
From India, Delhi
This is to inform you that we are not to do any revision of minimum rates of wages in accordance with the requirement of the Factories Act. The revision in minimum rates of wages is done by the appropriate Govt. we are to implement the notification of minimum rates of wages if this Act is applicable to us. Plz go through the declared minimum rates of wages as applicable to your employment & see whether you are allowed to do any bifurcation in wages or not.
With Regards,
R.N.Khola
From India, Delhi
Hi,
It is true that the Factories Act does not cover provisions under Minimum Wages, but the Inspector of Factories are the authorised officials under the MW Act also, hence, during inspection they may ask us to produce relevant records in respect of MW Act.
The basic and statutory structure of MW covers only the Basic and the DA, while the former being revised based on negotiations with the stipualted committee, the later one is revised every year based on Consumer Price Index(CPI) and a notification to these effects being released by respective state Governments periodically.
Regards
Balamurugan Sivaprakasam
Head-HR, ICIL-MM Nagar
From India, Madras
It is true that the Factories Act does not cover provisions under Minimum Wages, but the Inspector of Factories are the authorised officials under the MW Act also, hence, during inspection they may ask us to produce relevant records in respect of MW Act.
The basic and statutory structure of MW covers only the Basic and the DA, while the former being revised based on negotiations with the stipualted committee, the later one is revised every year based on Consumer Price Index(CPI) and a notification to these effects being released by respective state Governments periodically.
Regards
Balamurugan Sivaprakasam
Head-HR, ICIL-MM Nagar
From India, Madras
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OVER TIME PAYMENT-wages under the Factories Act - Madras HC judgment.doc