For the calculation of minimum wages, can payment of Bonus, Gratuity and employer part of EPF is also taken in the calculation?
From India, Lucknow
From India, Lucknow
No. In order to establish that the employer is paying notified minimum wages the fixed gross wages only can be considered. The bonus which is an annual payment, employer contribution to EPF or ESI which is a statutory responsibility of the employer and gratuity which is again a responsibility of the employer the payment of which may happen only when the employee leaves that a,so after a minimum service of five years cannot be put together as part of wages. Even incentives the payment of which is dependent on the happening of some events, meeting targets, will be outside the scope of wages for deciding compliance to minimum wages.
From India, Kannur
4246From India, Kannur
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
SALARY SHEET CALCULATION.xls