Hi All, i have 2 question mentioned below
1. In Delhi can we give net pay less than minimum wages?
2. Can we do CTC equal to minimum wages in which we will deduct both employee and employer part pf and esic and employee in hand salary will be approx. 13k ?
Kindly confirm for example can we give 16792 as CTC and both employee and employer pf,esic, gratuity & bonus will be deducted from CTC 16792?
Kindly explain
Thanks
Gaurav
From India, New Delhi
1. In Delhi can we give net pay less than minimum wages?
2. Can we do CTC equal to minimum wages in which we will deduct both employee and employer part pf and esic and employee in hand salary will be approx. 13k ?
Kindly confirm for example can we give 16792 as CTC and both employee and employer pf,esic, gratuity & bonus will be deducted from CTC 16792?
Kindly explain
Thanks
Gaurav
From India, New Delhi
Hi,
Generally Minimum wages refers to gross earnings or Gross remuneration.
While Employer / Employee PF can be shown in CTC ( total expenses incurred by employer for the employee) you should ensure that the Gross earning matches the minimum wages criteria.
Premium paid towards Group Gratuity Scheme to any insurance can be projected in the CTC.
Statutory Bonus should be separate which is declared on yearly basis.
From India, Madras
947Generally Minimum wages refers to gross earnings or Gross remuneration.
While Employer / Employee PF can be shown in CTC ( total expenses incurred by employer for the employee) you should ensure that the Gross earning matches the minimum wages criteria.
Premium paid towards Group Gratuity Scheme to any insurance can be projected in the CTC.
Statutory Bonus should be separate which is declared on yearly basis.
From India, Madras
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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