Dear Sir/Madam,
Please clarify the basis for calculating minimum wages, whether it comprises Basic+DA or the gross salary (Basic, DA, HRA, Special Allowance, Reimbursements).
Please clarify.
Regards,
Sandeep
Tata Power Ltd.
From India, Delhi
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Please clarify the basis for calculating minimum wages, whether it comprises Basic+DA or the gross salary (Basic, DA, HRA, Special Allowance, Reimbursements).
Please clarify.
Regards,
Sandeep
Tata Power Ltd.
From India, Delhi
Acknowledge(0)Amend(0)
Dear Sandeep,
"Minimum wages" normally refers to the minimum wages fixed by the appropriate Governments, namely the Central and State Governments, for the respective scheduled employments earmarked to them under the Minimum Wages Act, 1948. As such, they are the statutory minimum wages. In general, statutory minimum wages comprise two components only: basic and dearness allowance, which is linked to some Cost of Living Index. However, the definition of the term "wages" under section 2(h) of the Minimum Wages Act, 1948, includes all remuneration payable under the contract of employment, including house rent allowance, while excluding certain specific payments under the heads enumerated in items (i) to (v) of the definition. Therefore, the parity of your industry wages with the statutory minimum wages is to be determined by subtracting the excluded items, if any, from the gross salary of your employees.
From India, Salem
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6185"Minimum wages" normally refers to the minimum wages fixed by the appropriate Governments, namely the Central and State Governments, for the respective scheduled employments earmarked to them under the Minimum Wages Act, 1948. As such, they are the statutory minimum wages. In general, statutory minimum wages comprise two components only: basic and dearness allowance, which is linked to some Cost of Living Index. However, the definition of the term "wages" under section 2(h) of the Minimum Wages Act, 1948, includes all remuneration payable under the contract of employment, including house rent allowance, while excluding certain specific payments under the heads enumerated in items (i) to (v) of the definition. Therefore, the parity of your industry wages with the statutory minimum wages is to be determined by subtracting the excluded items, if any, from the gross salary of your employees.
From India, Salem
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Delhi - Minimum Wages w.e.f. 01.10.2012 (1).pdf
Minimum Wages in Maharashtra for the period January 2018 to June 2018.xls