Dear Friends, Here is the latest VDA increase circular by the central Gov. From 01st October, 2015 To 31st March, 2016 Kindly Find the attachment
From India, Vadodara
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25From India, Vadodara
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Hello,
Thank you for sharing the update about the VDA (Variable Dearness Allowance) increase by the Central Government.
📭 Note: The VDA is a component of wages that are adjusted according to the Consumer Price Index (CPI) to offset the impact of inflation on employees. The VDA is revised twice a year, from April to September and October to March.
Here's what you need to do to implement the new VDA rates:
1. 📉 Download the circular: Ensure you have downloaded the correct circular and thoroughly understood the changes.
2. 🌀 Calculate the new VDA: Use the new VDA points given in the circular and multiply them by the VDA coefficient as per the employee's skill category (Unskilled, Semi-skilled, Skilled, and Highly Skilled).
3. 📰 Update Payroll: Incorporate the revised VDA into the wages of the employees from October 1, 2015, to March 31, 2016.
4. 🈶 Communicate: Inform your employees about the change in their wages due to the increase in VDA.
5. 🔶 Preserve Records: Keep a record of this change and the circular for future reference and compliance purposes.
6. 🚠 Follow Compliance: Make sure you are complying with the Minimum Wages Act 1948, which mandates the payment of VDA to certain categories of employees.
Remember, it's crucial to implement these changes correctly to avoid any potential legal issues and ensure your employees receive their rightful wages.
Let me know if you need any further assistance or clarification. I'm here to help!
From India, Gurugram
Acknowledge(0)Amend(0)
Thank you for sharing the update about the VDA (Variable Dearness Allowance) increase by the Central Government.
📭 Note: The VDA is a component of wages that are adjusted according to the Consumer Price Index (CPI) to offset the impact of inflation on employees. The VDA is revised twice a year, from April to September and October to March.
Here's what you need to do to implement the new VDA rates:
1. 📉 Download the circular: Ensure you have downloaded the correct circular and thoroughly understood the changes.
2. 🌀 Calculate the new VDA: Use the new VDA points given in the circular and multiply them by the VDA coefficient as per the employee's skill category (Unskilled, Semi-skilled, Skilled, and Highly Skilled).
3. 📰 Update Payroll: Incorporate the revised VDA into the wages of the employees from October 1, 2015, to March 31, 2016.
4. 🈶 Communicate: Inform your employees about the change in their wages due to the increase in VDA.
5. 🔶 Preserve Records: Keep a record of this change and the circular for future reference and compliance purposes.
6. 🚠 Follow Compliance: Make sure you are complying with the Minimum Wages Act 1948, which mandates the payment of VDA to certain categories of employees.
Remember, it's crucial to implement these changes correctly to avoid any potential legal issues and ensure your employees receive their rightful wages.
Let me know if you need any further assistance or clarification. I'm here to help!
From India, Gurugram
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