Dear All,
I have been receiving numerous queries from HR friends regarding the definition of basic wage and its impacts. I have prepared a brief note on PF Basic Wage as per the recent SC Judgment. I hope that it proves to be useful for everyone. Thank you, and have a good day!
Please do not hesitate to contact me for any clarifications regarding compliance at compliance@bayballshr.com.
Warm Regards,
BayballsHR Services Private Limited - Chennai
Web: https://www.bayballshr.com
From India, Chennai
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25I have been receiving numerous queries from HR friends regarding the definition of basic wage and its impacts. I have prepared a brief note on PF Basic Wage as per the recent SC Judgment. I hope that it proves to be useful for everyone. Thank you, and have a good day!
Please do not hesitate to contact me for any clarifications regarding compliance at compliance@bayballshr.com.
Warm Regards,
BayballsHR Services Private Limited - Chennai
Web: https://www.bayballshr.com
From India, Chennai
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Dear Sir/Madam, Thanks for your explanation. Can you please discuss the rationale behind considering the HRA as 30% of total wages. Is there any law / provision regarding this ?
From India, Calcutta
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From India, Calcutta
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Dear Sir/Madam,
Thank you for explaining the included and excluded allowances. Could you please clarify if our employer is contributing to the PF on the entire basic salary, whether it is 15000/- or more? For employees with a basic salary exceeding 55000/-, our employer contributes to the PF based on the actual basic salary.
In the scenario mentioned above, should we only cover employees with a basic salary below 15000/-, or should we consider all included allowances for PF calculation for all employees?
Thank you & Regards,
Shailza
From India, Bathinda
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Thank you for explaining the included and excluded allowances. Could you please clarify if our employer is contributing to the PF on the entire basic salary, whether it is 15000/- or more? For employees with a basic salary exceeding 55000/-, our employer contributes to the PF based on the actual basic salary.
In the scenario mentioned above, should we only cover employees with a basic salary below 15000/-, or should we consider all included allowances for PF calculation for all employees?
Thank you & Regards,
Shailza
From India, Bathinda
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SHORT NOTE ON COPQ.doc