Please explain what is VDA?
I found the following statement at the end of the Minimum wage schedule in Karnataka.
"In addition to the basic wages, all Category of Employees in the state shall be paid V.D.A. at the rate of 4 Paise per point over and above 7616 points."
Please shed some light on this statement on how to implement minimum wages.
From India, Mysore
1I found the following statement at the end of the Minimum wage schedule in Karnataka.
"In addition to the basic wages, all Category of Employees in the state shall be paid V.D.A. at the rate of 4 Paise per point over and above 7616 points."
Please shed some light on this statement on how to implement minimum wages.
From India, Mysore
"In addition to the basic wages, all Category of Employees in the state shall be paid V.D.A. at the rate of 4 Paise per point over and above 7616 points" mean that a variable dearness allowance (VDA) of four paise is to be paid for every increase in the consumer price index (CPI) over 7616 points. The CPI is fixed by the Directorate of Economics and Statistics considering the price changes in various cities in the state. Suppose that the CPI average CPI is 9469, then 1853 (9469-7616) points would earn DA at the rate of 4 paise per point, and the VDA will be 7412 paise or Rs 74.12 per day. This is to be paid in addition to the Basic Pay for the day. If the basic pay is monthly fixed, then Rs 74.12 multiplied by 26, Rs 1927 should be paid as VDA.
I believe that the VDA above quoted is very old with 1987-88 base. The latest available base is 2018=100 and the linking factor to arrive at the old base of 1987-88=100 to 2018 base is 8.5. The CPI for 1987=100 is 1114.
From India, Kannur
I believe that the VDA above quoted is very old with 1987-88 base. The latest available base is 2018=100 and the linking factor to arrive at the old base of 1987-88=100 to 2018 base is 8.5. The CPI for 1987=100 is 1114.
From India, Kannur
VDA means Variable Dearness Allowance which varies with Consumer Price Index (CPI) fixed against one base year.
In this case probably there is some VDA already there against one consumer price index. Now after one certain index point if CPI increase, then by a neutralization factor it will be change.
Consumer Price Index is changing with the price increase of different commodities which has been considered to determine the CPI in this case.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
skb@usdhrs.in
From India, New Delhi
In this case probably there is some VDA already there against one consumer price index. Now after one certain index point if CPI increase, then by a neutralization factor it will be change.
Consumer Price Index is changing with the price increase of different commodities which has been considered to determine the CPI in this case.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
skb@usdhrs.in
From India, New Delhi
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Minimum wages vda points 01-10-2018 to 31-03-2019.jpg
Kar - MW - 2015 - 16 - VDA Points.pdf