Hi Ayona,
After gone through all the responses i summarise the same :
1. Minimumwage is differe in differen states
2. Minimum wage is also differen for different position (un skill, skill, semi skill, matriculate, graduate (white colour job)etc)
3. Any basic should notbe less than Minimum wage (i.e Basic+DA), here in pvt sector you will rarely found DA in any organisation.
4. after fixing the Minimum basic you can put other amount in any category (like HRA-it depend on City but in any case it should not be more than 60%, Transport maximum of Rs.800/- like this.
5. as well as Bonus is concern it should not be part of gross, but could be count in CTC .
If still have any query, you can mail me (
) or call me on +91-9818067206.
Hope this will clear your ideas.
Regards
Arun
From India, Delhi
6After gone through all the responses i summarise the same :
1. Minimumwage is differe in differen states
2. Minimum wage is also differen for different position (un skill, skill, semi skill, matriculate, graduate (white colour job)etc)
3. Any basic should notbe less than Minimum wage (i.e Basic+DA), here in pvt sector you will rarely found DA in any organisation.
4. after fixing the Minimum basic you can put other amount in any category (like HRA-it depend on City but in any case it should not be more than 60%, Transport maximum of Rs.800/- like this.
5. as well as Bonus is concern it should not be part of gross, but could be count in CTC .
If still have any query, you can mail me (
Hope this will clear your ideas.
Regards
Arun
From India, Delhi
Siva Sir is correct. Minimum wages include Basic+DA & it is different in diff. states & it also differs according to the type of industry. For eg Auto industry has higher wage rates in comparison to food industry.
From India, Bareli
From India, Bareli
Deara Chirta ,
Mr.T.Sivasankaran is absolutely right while stating the minimum basic as per law he is clearly stateed that the Minimum Basic = Minimum wages+D.A. I have gone through the U.P. & Haryana state ruling about the Minimum basic, as per the guidelines you can not keep basic low then minimum wages.
with regards
shish ram uniyal
junior member citehr
From India, New Delhi
Mr.T.Sivasankaran is absolutely right while stating the minimum basic as per law he is clearly stateed that the Minimum Basic = Minimum wages+D.A. I have gone through the U.P. & Haryana state ruling about the Minimum basic, as per the guidelines you can not keep basic low then minimum wages.
with regards
shish ram uniyal
junior member citehr
From India, New Delhi
Hi,The Basic should not be less than the minimum wages which is different from state to state because the minimum wages act is implemented on the all organisations/shops/Bpos and officeses.No body can not pay the less than amount of minimum wages .for Pf deduction : Pf should be deduct on the the minimum wages as per the supriem court decision. Basic wages= Minimum wages .For the Payroll all the component of salary should not be more than the basic wages. Basic will be the higher part of the salary it should be 50% or 40 % of the Gross salary.Regards,Jalaj
From India, Delhi
From India, Delhi
Dear All,
Recently Himachal Pradesh has fixed minimum wages Rs. 3000/- per month alongwith the conditions is the Basic salary not less that 95% of minimum wages, and HRA only 5% in the Himachal Pradesh.
HRA 40% and 50% funda only applicable for the income tax department like if you lived at metro city then you can HRA tax exemption 50% on basic and not metro city only 40% in place of 50%.
Delhi government has fixed the minimum wages with effect from as under:-
Unskilled=Rs. 3633/-,
Semi-Skilled=Rs.3799/-,
Skilled=Rs.4057/-
Punjab also fixed is Rs. 2620/- per month with effect from 01/03/2008.i.e. only Rs. 50/- revised in all grades as well as Unskilled, Semi-unskilled uper, etc.
For more query please purchase a short note of minimum wages from any book stall now very short note avalable on net or book stall.
Thanks & regards
Manoj Kumar
teotiamanoj@gmail.com
From India, Delhi
Recently Himachal Pradesh has fixed minimum wages Rs. 3000/- per month alongwith the conditions is the Basic salary not less that 95% of minimum wages, and HRA only 5% in the Himachal Pradesh.
HRA 40% and 50% funda only applicable for the income tax department like if you lived at metro city then you can HRA tax exemption 50% on basic and not metro city only 40% in place of 50%.
Delhi government has fixed the minimum wages with effect from as under:-
Unskilled=Rs. 3633/-,
Semi-Skilled=Rs.3799/-,
Skilled=Rs.4057/-
Punjab also fixed is Rs. 2620/- per month with effect from 01/03/2008.i.e. only Rs. 50/- revised in all grades as well as Unskilled, Semi-unskilled uper, etc.
For more query please purchase a short note of minimum wages from any book stall now very short note avalable on net or book stall.
Thanks & regards
Manoj Kumar
teotiamanoj@gmail.com
From India, Delhi
Compensation and Bnefits a Total Guide
Hi am new to this forum jus joined ,wouls like know (a to z info about C & B ) i.e compensation and benefits, can any one help out plz its very important and needed despertately
From India, Hyderabad
Hi am new to this forum jus joined ,wouls like know (a to z info about C & B ) i.e compensation and benefits, can any one help out plz its very important and needed despertately
From India, Hyderabad
Dear Siva,
Will appreciate if could pls guide me on some of these points. I'm bit confused now...and not getting correct way to learn how to prepare the salary break-up.
Our company falls under shop&Estb act. So how much baisc should be?
What should be the break up if CTC is 16250/-?
Pls go thru below mentioned and correct me if m worng at any point (this is wht we follow).
Basic : 30%
HRA : 40%
CCA : 15%
Conveyance : 800/- max
special Allownce : rest of the CTC
PF : employer
Basic : 12%
Employer contri : 12% + 1.61% S/charge
ESI
Gross : 1.75%
Company contri : 4.75%
Looking forward to hear from you...
Best Rgds,
Meenakshi
From India, Sangrur
Will appreciate if could pls guide me on some of these points. I'm bit confused now...and not getting correct way to learn how to prepare the salary break-up.
Our company falls under shop&Estb act. So how much baisc should be?
What should be the break up if CTC is 16250/-?
Pls go thru below mentioned and correct me if m worng at any point (this is wht we follow).
Basic : 30%
HRA : 40%
CCA : 15%
Conveyance : 800/- max
special Allownce : rest of the CTC
PF : employer
Basic : 12%
Employer contri : 12% + 1.61% S/charge
ESI
Gross : 1.75%
Company contri : 4.75%
Looking forward to hear from you...
Best Rgds,
Meenakshi
From India, Sangrur
Hi PPL,
Hope this will clarify all the questions related to CTC salary working format.
If you need any clarification on this pls do let me know...
I have just shared the format FYI. The calculation will not be the same for all the companies. It will be similar to this....
Regards,
Ramesh.A
HR Specialist
Chennai
From India
Hope this will clarify all the questions related to CTC salary working format.
If you need any clarification on this pls do let me know...
I have just shared the format FYI. The calculation will not be the same for all the companies. It will be similar to this....
Regards,
Ramesh.A
HR Specialist
Chennai
From India
Dear Friend
Please follow following principle while bifurcating CTC
60% of Gross should be basic
40% of basic should be HRA ( incase of metro cities) other wise depending of class of cities
remaining amount you can put different heads prevailing in your company. there is no any statutory obligation ( such as all purpose allowances, conveyance allowances, medical allowances, washing allowances etc)
But generally PF authorities will check that 60% of gross should be basic component
Rest of you may be aware such as PF , ESI , Professional tax etc
Best regards
Ravindra Shenvi
From India
Please follow following principle while bifurcating CTC
60% of Gross should be basic
40% of basic should be HRA ( incase of metro cities) other wise depending of class of cities
remaining amount you can put different heads prevailing in your company. there is no any statutory obligation ( such as all purpose allowances, conveyance allowances, medical allowances, washing allowances etc)
But generally PF authorities will check that 60% of gross should be basic component
Rest of you may be aware such as PF , ESI , Professional tax etc
Best regards
Ravindra Shenvi
From India
Hi,
Every Organization has it own Policies of the Saalry Break-Up.
If you are formulating a new policy for salary break up then keeping basic 40 % you can divide the rest of the amount under various components to arrive at the 100 % of the amount.
Eg.
Basic 40%
HRA 10%
Office wear allow 10%
Conveyance 20%
Medical 10%
Other 10%
Or various combinations for the various Salary components.
This Break up can be created for the salaried employee / s only and not for the wage paid employee / s (They can be paid as per the Minimum Wages Act)
Regards,
Sandip
From India, Tumkur
Every Organization has it own Policies of the Saalry Break-Up.
If you are formulating a new policy for salary break up then keeping basic 40 % you can divide the rest of the amount under various components to arrive at the 100 % of the amount.
Eg.
Basic 40%
HRA 10%
Office wear allow 10%
Conveyance 20%
Medical 10%
Other 10%
Or various combinations for the various Salary components.
This Break up can be created for the salaried employee / s only and not for the wage paid employee / s (They can be paid as per the Minimum Wages Act)
Regards,
Sandip
From India, Tumkur
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