Hi everyone,
i have a small doubt regarding employees basic. Do we have any rule in the any of the act that an employees basic should be minimum 40% - 60% of the gross salary. Orelse as per industries is there any rules on basic. Plz post me your great responses.
Regards,
vinay kumar.
From India, Hyderabad
16i have a small doubt regarding employees basic. Do we have any rule in the any of the act that an employees basic should be minimum 40% - 60% of the gross salary. Orelse as per industries is there any rules on basic. Plz post me your great responses.
Regards,
vinay kumar.
From India, Hyderabad
No.there is no such rule about it. it depends on how you deal with your employer and how is your performance. you can only give your best and the rest depends on the employer.
From India, Chandigarh
From India, Chandigarh
Dear MM,
You are giving wrong information,
Dear Vinay-
what you are telling is true basic has criteria by Location wise it calculated on the basis of Metro city & non metro city,
For Non Metro - 40%
For Metro - 60%
Thanks & Regards,
From Spain
You are giving wrong information,
Dear Vinay-
what you are telling is true basic has criteria by Location wise it calculated on the basis of Metro city & non metro city,
For Non Metro - 40%
For Metro - 60%
Thanks & Regards,
From Spain
If Company should think to give HRA allowance to Workers who are Daily Wages, How can we set it ? Is it on % base or Fix Allowance ? If we set on percentage, it will be differ for every month because of basic salary is calculation daily bases.
Please suggest me what is the right....
Thanks
From India, Vadodara
Please suggest me what is the right....
Thanks
From India, Vadodara
DEAR YOUNG TALENTS,
ACCORDING TO LATEST PRESURE (FOR THE PAST 2 YEARS) FROM RCPF, CHENNAI - AS PER EPF&M ACT, 1952, UNDER SEC.2(B) BASIC WAGES MEANS ALL COMPONENTS EXCLUDING HRA, OT, INCENTIVE OR BONUS.
THOSE DAYS WE USED TO CALCULATE EPF FOR ONLY BASIC + DA (LIKE IN GRATUITY ACT).
OTHER COMPONENTS - U MAY CALL IT A DA, CONVEYANCE ALLOWANCE, EDUCATION ALLOWANCE, SPECIAL ALLOWANCE, MANAGEMENT ALLOWANCE, BOOKS & PERIODICALS, ETC. ETC. ETC. - TO COME UNDER THE PURVIEW OF BASIC WAGES UPTO RS.6,500/- (THE MAXIMUM LIMIT UPTO WHAT WE HAVE TO CONTRIBUTE EPF TO EMPLOYEES). BEYOND THAT U NEED NOT PAY EPF, IF THE EMPLOYER AND EMPLOYEE AGREES THEY CAN PAY EPF FOR MORE BASIC WAGES.
SOME FEW YEARS BACK EPF AUTHORITIES AT CHENNAI WERE INSISTING US FOR 60% BASIC ON GROSS SALARY - BUT U KNOW, THAT THERE IS NO MENTION IN EPF ACT ABOUT THIS.
HENCE U ARE ALL HEREBY REQUESTED TO GO THROUGH THE BARE ACT OF EPF&M ACT, 1952 - SEC. 2(b) AND DECIDE.
NO 40% OR 60% ACCORDING TO THE AREA - I THINK THAT LOCALITY EO'S (ENFORCEMENT OFFICER) IS MISLEADING THE PARTICULAR HR PERSON.
CCA (CITY COMPENSATORY ALLOWANCE) IS DECIDED BASED ON THE PLACE WHERE WE LIVE - METRO OR NON-METRO OR HILL PLACE (OOTY - HINUDSTAN PHOTO FILMS MFG.CO.LTD. PAYS HRA (HILL COMPENSATORY ALLOWANCE) - A GOVERNMENT OF INDIA ENTERPRISE.
ANY OTHER VIEWS - PLEASE PROVIDE HERE IN THIS FORUM OR CONTACT ME.
WITH REGARDS,
K. GOPALAKRISHNAN
SRIPERUMBUDUR
MOBILE : 99400 45194
From India, Bangalore
ACCORDING TO LATEST PRESURE (FOR THE PAST 2 YEARS) FROM RCPF, CHENNAI - AS PER EPF&M ACT, 1952, UNDER SEC.2(B) BASIC WAGES MEANS ALL COMPONENTS EXCLUDING HRA, OT, INCENTIVE OR BONUS.
THOSE DAYS WE USED TO CALCULATE EPF FOR ONLY BASIC + DA (LIKE IN GRATUITY ACT).
OTHER COMPONENTS - U MAY CALL IT A DA, CONVEYANCE ALLOWANCE, EDUCATION ALLOWANCE, SPECIAL ALLOWANCE, MANAGEMENT ALLOWANCE, BOOKS & PERIODICALS, ETC. ETC. ETC. - TO COME UNDER THE PURVIEW OF BASIC WAGES UPTO RS.6,500/- (THE MAXIMUM LIMIT UPTO WHAT WE HAVE TO CONTRIBUTE EPF TO EMPLOYEES). BEYOND THAT U NEED NOT PAY EPF, IF THE EMPLOYER AND EMPLOYEE AGREES THEY CAN PAY EPF FOR MORE BASIC WAGES.
SOME FEW YEARS BACK EPF AUTHORITIES AT CHENNAI WERE INSISTING US FOR 60% BASIC ON GROSS SALARY - BUT U KNOW, THAT THERE IS NO MENTION IN EPF ACT ABOUT THIS.
HENCE U ARE ALL HEREBY REQUESTED TO GO THROUGH THE BARE ACT OF EPF&M ACT, 1952 - SEC. 2(b) AND DECIDE.
NO 40% OR 60% ACCORDING TO THE AREA - I THINK THAT LOCALITY EO'S (ENFORCEMENT OFFICER) IS MISLEADING THE PARTICULAR HR PERSON.
CCA (CITY COMPENSATORY ALLOWANCE) IS DECIDED BASED ON THE PLACE WHERE WE LIVE - METRO OR NON-METRO OR HILL PLACE (OOTY - HINUDSTAN PHOTO FILMS MFG.CO.LTD. PAYS HRA (HILL COMPENSATORY ALLOWANCE) - A GOVERNMENT OF INDIA ENTERPRISE.
ANY OTHER VIEWS - PLEASE PROVIDE HERE IN THIS FORUM OR CONTACT ME.
WITH REGARDS,
K. GOPALAKRISHNAN
SRIPERUMBUDUR
MOBILE : 99400 45194
From India, Bangalore
Dear young talents,
in my previous posting i had wrongly mentioned as hra instead of hca.
Only da (dearness allowance) differs from place to place / area to area / locality to locality.
As per all india price index - the government will declare the amount da increase for every 3 months period accordingly to the inflation.
Thanks & regards,
k. Gopalakrishnan
sriperumbudur
mobile: 99400 45194
From India, Bangalore
in my previous posting i had wrongly mentioned as hra instead of hca.
Only da (dearness allowance) differs from place to place / area to area / locality to locality.
As per all india price index - the government will declare the amount da increase for every 3 months period accordingly to the inflation.
Thanks & regards,
k. Gopalakrishnan
sriperumbudur
mobile: 99400 45194
From India, Bangalore
Hi,
A very clear reply from Mr.Gopalakrishnan...its very true that now a days companies in Chennai started to change their Basic to 60% from gross its purely because of PF enforcement officer..we are also changed our structure as per their instruction in fact we are maintains 70% as basic from Gross..one more sad thing is for those not maintains basic 60% or more EPF start to penalize..
Regards
Madhan
From India, Delhi
A very clear reply from Mr.Gopalakrishnan...its very true that now a days companies in Chennai started to change their Basic to 60% from gross its purely because of PF enforcement officer..we are also changed our structure as per their instruction in fact we are maintains 70% as basic from Gross..one more sad thing is for those not maintains basic 60% or more EPF start to penalize..
Regards
Madhan
From India, Delhi
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Minimum wages- Basic.pdf