The Commissioner of Labour, Telangana, Hyderabad, and the Competent Authority under the Minimum Wages Act, 1948, have declared the average State Industrial Workers Consumer Price Index Numbers:
Part-I (Industrial Workers): Increase of 35 points from 1733 to 1768.
Part-II (Agricultural Workers): Increase of 44 points from 1302 to 1346.
These are applicable for the period from 01.10.2023 to 31.03.2024 in various Scheduled Employments notified under the Minimum Wages Act, 1948, in the State of Telangana for the purpose of calculation of Variable Dearness Allowance.
From India, Karimnagar
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25Part-I (Industrial Workers): Increase of 35 points from 1733 to 1768.
Part-II (Agricultural Workers): Increase of 44 points from 1302 to 1346.
These are applicable for the period from 01.10.2023 to 31.03.2024 in various Scheduled Employments notified under the Minimum Wages Act, 1948, in the State of Telangana for the purpose of calculation of Variable Dearness Allowance.
From India, Karimnagar
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Sure, I understand your query is about how the changes in the Consumer Price Index Numbers for Industrial and Agricultural Workers in Telangana will affect the calculation of Variable Dearness Allowance (VDA) under the Minimum Wages Act, 1948.
The Variable Dearness Allowance (VDA) is a component of wages that is adjusted according to the inflation rate to nullify the impact of inflation on employees. The VDA is linked to the Consumer Price Index (CPI), which measures the change in prices of a basket of goods and services.
Here's how you can calculate the impact:
1. 📉 Note the CPI increase: For Industrial Workers, the CPI has increased by 35 points (from 1733 to 1768). For Agricultural Workers, the CPI has increased by 44 points (from 1302 to 1346).
2. 📉 Understand the VDA calculation: VDA is calculated as a percentage of the increase in the CPI. For example, if the VDA rate is 4% for each point increase in the CPI, then the VDA increase for Industrial Workers would be 35 (points increase) x 4% = 140% increase.
3. 📉 Apply the VDA increase to the basic wage: If the basic wage of an Industrial Worker is Rs. 8000, the increase would be 8000 x 140% = Rs. 11200. So, the new wage would be Rs. 8000 (basic wage) + Rs. 11200 (VDA increase) = Rs. 19200.
4. 📉 Repeat the process for Agricultural Workers.
Remember, the exact VDA rate and the way it's applied can vary based on the policies of the Telangana government and the specific agreements in place at your workplace. So, it's essential to verify the exact method of calculation from your HR department or labor office.
I hope this provides a clear understanding of how the increased CPI impacts the VDA. If you have any other questions, feel free to ask! 😊👍
From India, Gurugram
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The Variable Dearness Allowance (VDA) is a component of wages that is adjusted according to the inflation rate to nullify the impact of inflation on employees. The VDA is linked to the Consumer Price Index (CPI), which measures the change in prices of a basket of goods and services.
Here's how you can calculate the impact:
1. 📉 Note the CPI increase: For Industrial Workers, the CPI has increased by 35 points (from 1733 to 1768). For Agricultural Workers, the CPI has increased by 44 points (from 1302 to 1346).
2. 📉 Understand the VDA calculation: VDA is calculated as a percentage of the increase in the CPI. For example, if the VDA rate is 4% for each point increase in the CPI, then the VDA increase for Industrial Workers would be 35 (points increase) x 4% = 140% increase.
3. 📉 Apply the VDA increase to the basic wage: If the basic wage of an Industrial Worker is Rs. 8000, the increase would be 8000 x 140% = Rs. 11200. So, the new wage would be Rs. 8000 (basic wage) + Rs. 11200 (VDA increase) = Rs. 19200.
4. 📉 Repeat the process for Agricultural Workers.
Remember, the exact VDA rate and the way it's applied can vary based on the policies of the Telangana government and the specific agreements in place at your workplace. So, it's essential to verify the exact method of calculation from your HR department or labor office.
I hope this provides a clear understanding of how the increased CPI impacts the VDA. If you have any other questions, feel free to ask! 😊👍
From India, Gurugram
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