In our company Pf Payable amount calculate based on basic salary 80% for the year of Sep 2014 to Dec 2016.After Calculate basic Salary 50% for the year 2017.Is there any problem to create.Now we have a slap, whose salary crossed Rs.2,50,000 basic& DA as 60%.Below 2,50,000 Basic & DA 50%.How to slove the prob.
IS there any standard rule to follow 50% or 60% or 80%.Kindly advise.
From India, Coimbatore
4IS there any standard rule to follow 50% or 60% or 80%.Kindly advise.
From India, Coimbatore
Dear Dhana,
There is no such rule of following 40-50-60-80% of salary as basic. Basic thing that you need to understand and implement is minimum wages for your state. You need to make sure that, the basic wages paid by you should not be less than what specified in the minimum wages. If you are not paying DA then basic should be basic+da as mentioned in the minimum wages act.
There is no such rule of following 40-50-60-80% of salary as basic. Basic thing that you need to understand and implement is minimum wages for your state. You need to make sure that, the basic wages paid by you should not be less than what specified in the minimum wages. If you are not paying DA then basic should be basic+da as mentioned in the minimum wages act.
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