Dear All Seniors ,
I Am very confused about componenets which include in minimum wages .
So minimum wages means minimum ctc or minimum gross salary or minimum basic salry ?
Please provide valuable suggestion
From India, Mumbai
1I Am very confused about componenets which include in minimum wages .
So minimum wages means minimum ctc or minimum gross salary or minimum basic salry ?
Please provide valuable suggestion
From India, Mumbai
Minimum wages act means it is directed by the labour dept of govt. Every six month they are declare the rates of minimum wages as per the category of establishment or factory. It is only basic + da(dearness allowance) only.
From India, Pune
From India, Pune
I am sending a link to you.
kindly go through the contents.
Report on the Working of the Minimum Wages Act
From India, Delhi
kindly go through the contents.
Report on the Working of the Minimum Wages Act
From India, Delhi
What are all the Components included in Minimum Wages Notification you are referring to? Please Share the same.Minimum Wages means bare Minimum Salary to be paid to an Employee. CTC means cost to the Company like Employer Share of Statutory Contribution, Cost of other Monetary Benefits paid to an Employee, Uniform Cost, cafeteria Subsidy, Transportation Cost etc
From India, New Delhi
From India, New Delhi
Dear All
Almost all State Govts are notifying MW for various industries with different wages and DA. There has been huge difference in wages and DA for different industries. Can any Govt justify the difference ?. While the DA is common for all categories of employees in a particular industry, why should there be difference in wages and especially DA for different industry ?. Can the Govt assure different prices in vegetables or groceries for a worker in an Engineering industry and Construction field ?. Experts could explain the rationale for such decision of State Govts. Thanks and Regards.
N Nataraajhan, Sakthi Management Services (Hp : + 91 94835 17402)
From India, Bangalore
Almost all State Govts are notifying MW for various industries with different wages and DA. There has been huge difference in wages and DA for different industries. Can any Govt justify the difference ?. While the DA is common for all categories of employees in a particular industry, why should there be difference in wages and especially DA for different industry ?. Can the Govt assure different prices in vegetables or groceries for a worker in an Engineering industry and Construction field ?. Experts could explain the rationale for such decision of State Govts. Thanks and Regards.
N Nataraajhan, Sakthi Management Services (Hp : + 91 94835 17402)
From India, Bangalore
Minimum Wages differs from Industry to Industry & State to state.Minimum Wages is based on Type of industry/Skill requirement/Nature of Job performed/categorization of Employees/Job output
Whereas Variable Dearness is linked to Consumenr Price index
From India, New Delhi
Whereas Variable Dearness is linked to Consumenr Price index
From India, New Delhi
1. Minimum Wage is minimum gross salary in general, but there is a difference of opinion on minimum wages.
2. Some Consultants have advised that the monthly gross wages are the minimum wages, whereas, some are of the opinion that basic wage and dearness allowance/special allowance are the components of minimum wages.
3. CTC is not a legal term, it is purely a commercial term hence when you are dealing with minimum wages(which is a legal term) forget about CTC as it is not a recognized concept under labour laws.
From India, Thane
2. Some Consultants have advised that the monthly gross wages are the minimum wages, whereas, some are of the opinion that basic wage and dearness allowance/special allowance are the components of minimum wages.
3. CTC is not a legal term, it is purely a commercial term hence when you are dealing with minimum wages(which is a legal term) forget about CTC as it is not a recognized concept under labour laws.
From India, Thane
Even though the Minimum Wages Act defines "wages" as all remuneration, capable of being expressed in terms of money, which would, if the terms of the contract of employment, express or implied, were fulfilled, be payable to a person employed in respect of his employment or of work done in such employment, 1*[and includes house rent allowance], but does not include--
(i) the value of--
(a) any house-accommodation, supply of light, water, medical attendance, or
(b) any other amenity or any service excluded by general or special order of the appropriate
Government;
(ii) any contribution paid by the employer to any Pension Fund or Provident Fund or under any scheme of
social insurance;
(iii) any travelling allowance or the value of any travelling concession;
(iv) any sum paid to the person employed to defray special expenses entailed on him by the nature of his
employment; or
(v) any gratuity payable on discharge;
in some States the authorities are making it compulsory that the Basic Salary defined in the Salary structure should be equivalent to the Minimum Wages declared. They claim that the employer in order to keep the PF contribution less, defines Basic salary lesser than Minimum wage declared. In such cases, they are also insisting that the salary needs to be restructured with immediate effect.
Can i have your views on the same ?
From India, Mumbai
(i) the value of--
(a) any house-accommodation, supply of light, water, medical attendance, or
(b) any other amenity or any service excluded by general or special order of the appropriate
Government;
(ii) any contribution paid by the employer to any Pension Fund or Provident Fund or under any scheme of
social insurance;
(iii) any travelling allowance or the value of any travelling concession;
(iv) any sum paid to the person employed to defray special expenses entailed on him by the nature of his
employment; or
(v) any gratuity payable on discharge;
in some States the authorities are making it compulsory that the Basic Salary defined in the Salary structure should be equivalent to the Minimum Wages declared. They claim that the employer in order to keep the PF contribution less, defines Basic salary lesser than Minimum wage declared. In such cases, they are also insisting that the salary needs to be restructured with immediate effect.
Can i have your views on the same ?
From India, Mumbai
Dear patil jee
very good wishes ,minimum wage means basic salry + DA(The Minimum rates of wages notified are basic rate of minimum wages which are not permitted to be segregated into components in the form of allowance by the employer.)
a notification of HR Gov is also I uploaded after viewing the things are Crystal clear to you.
thank u
Ashutosh
HR Gen
From India, Delhi
very good wishes ,minimum wage means basic salry + DA(The Minimum rates of wages notified are basic rate of minimum wages which are not permitted to be segregated into components in the form of allowance by the employer.)
a notification of HR Gov is also I uploaded after viewing the things are Crystal clear to you.
thank u
Ashutosh
HR Gen
From India, Delhi
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Delhi - Minimum Wages w.e.f. 01.10.2012 (1).pdf
Minimum Wages in Maharashtra for the period January 2018 to June 2018.xls