hello gdmrg eveyone , i want to know how the basic calculate is there any percentage of whole salary or not if yes, so what a percentage of it.
From India, Noida
From India, Noida
To decide Basic, you need to consider the below.
1. Minimum Wages Act. - Whatever the Basic, it should not be less than prescribed Minimum Wages.
2. PF Department is insisting the employer to have Basic (+DA) not less than 50% of the gross salary. Otherwise they think that we subterfuge the PF Liability.
From India, Chennai
1001. Minimum Wages Act. - Whatever the Basic, it should not be less than prescribed Minimum Wages.
2. PF Department is insisting the employer to have Basic (+DA) not less than 50% of the gross salary. Otherwise they think that we subterfuge the PF Liability.
From India, Chennai
Dear Ankit Jain,
Your query is not very clear. There is no method for calculation of basic, rather basic is itself a components of wages or salary. The wages have been defined differently in each of the enactments, as such, you have to refer the particular enactment to know the components. For instance the Payment of Wages Act, 1936 includes all remuneration (whether by way of salary, allowance or otherwise) expressed in terms of money or capable of being so expressed to fulfill the terms of employment.
BS Kalsi
Member since August, 2011
From India, Mumbai
Your query is not very clear. There is no method for calculation of basic, rather basic is itself a components of wages or salary. The wages have been defined differently in each of the enactments, as such, you have to refer the particular enactment to know the components. For instance the Payment of Wages Act, 1936 includes all remuneration (whether by way of salary, allowance or otherwise) expressed in terms of money or capable of being so expressed to fulfill the terms of employment.
BS Kalsi
Member since August, 2011
From India, Mumbai
Ankit,
Basic is calculated as a percentage of the Gross or whole salary . Generally any Company can give different percentages to the components of the salary package . However the total must be equal to 100 .
For example if the gross or total salary is 50000 then the components of the salary could be Basic 50% of 50000 i.e. 25000, HRA 25% of 25000 i.e. 12500, other allowances 25% i.e.12,500
Srinivas
From India, Hyderabad
Basic is calculated as a percentage of the Gross or whole salary . Generally any Company can give different percentages to the components of the salary package . However the total must be equal to 100 .
For example if the gross or total salary is 50000 then the components of the salary could be Basic 50% of 50000 i.e. 25000, HRA 25% of 25000 i.e. 12500, other allowances 25% i.e.12,500
Srinivas
From India, Hyderabad
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