Dear Senior,
Require your expert advice.on below 2 scenario.
Scenario 1:-
Company A is paying as specified below
Minimum Wages in Maharashtra Basic + Special Allowance i.e. 5800+1215 = 7015 and as per Maharashtra Minimum House Rent Allowance Act 5% of Basic is required to be paid as HRA i.e. 5800*5%=290.
Hence an employee should receive 5800+1215+290=7305.
Scenario 2:-
Company B is paying as specified below
Basic =4209
HRA= 2806 ( i.e. 50% of Basic stating 5% is the requirement and we are paying 50% and Minimum wages can be bifurcated in any amount)
Total= 7015
Please suggest which company is paying properly Company A or B?
Thank you in advance for you valuable suggestions.
From India, Mumbai
Require your expert advice.on below 2 scenario.
Scenario 1:-
Company A is paying as specified below
Minimum Wages in Maharashtra Basic + Special Allowance i.e. 5800+1215 = 7015 and as per Maharashtra Minimum House Rent Allowance Act 5% of Basic is required to be paid as HRA i.e. 5800*5%=290.
Hence an employee should receive 5800+1215+290=7305.
Scenario 2:-
Company B is paying as specified below
Basic =4209
HRA= 2806 ( i.e. 50% of Basic stating 5% is the requirement and we are paying 50% and Minimum wages can be bifurcated in any amount)
Total= 7015
Please suggest which company is paying properly Company A or B?
Thank you in advance for you valuable suggestions.
From India, Mumbai
see, Minimum wages for employee for contract as specified under Maharashtra Minimum Wages to employment has 5% HRA. and other allowance those make Gross. This revised twice in a year as per act in Jan and July.
While you take as Minimum wages for payroll employee then HRA would be as per city status say 60% for Metro city else, 50% of Basic and DA. that structures till Gross Salary.
A can be correct if applicable to contractual and employee for say guard or like this on contract payroll.
From India, Ahmadabad
73While you take as Minimum wages for payroll employee then HRA would be as per city status say 60% for Metro city else, 50% of Basic and DA. that structures till Gross Salary.
A can be correct if applicable to contractual and employee for say guard or like this on contract payroll.
From India, Ahmadabad
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Minimum Wages in Maharashtra for the period January 2018 to June 2018.xls
Minimum Wages Maharashtra 01.01.2020 to 30.06.2020_Mara thi Version.pdf