Dear Friends,
I am from Pune (Maharashtra), I have require some information regarding the minimum wage for the employees provident fund.
e.g. A employee is working in an orginsation and his wage is 6000/-
But his Basic is 2500/- so I know that what is the minimum range of basic.
(The unit is manufacturing and minimum wage is (basic3530+Sp.all 955.3)
If anybody has availabe in juridacation pl send me the same.
Best Regards,
RV
From India, Pune
I am from Pune (Maharashtra), I have require some information regarding the minimum wage for the employees provident fund.
e.g. A employee is working in an orginsation and his wage is 6000/-
But his Basic is 2500/- so I know that what is the minimum range of basic.
(The unit is manufacturing and minimum wage is (basic3530+Sp.all 955.3)
If anybody has availabe in juridacation pl send me the same.
Best Regards,
RV
From India, Pune
Dear Friend, If any body has available ready reply pl foward me the same with attachment of juridication referance. Best regards, Rv
From India, Pune
From India, Pune
Hi
A company registered under factory act has to deduct PF of employees whose Gross salary is upto Rs 6500 monthly but if company wishes and has in policy to deduct PF for employees having more than 6500 pm, it can. while basic should be as per minimum wages and than you can put various allowances in it. Rememeber to add allowances like DA, HRA, spl allowance etc and keep basic minimum to save on gratuity or tax.
Hope you understood.
siddharth
From India, Surat
49A company registered under factory act has to deduct PF of employees whose Gross salary is upto Rs 6500 monthly but if company wishes and has in policy to deduct PF for employees having more than 6500 pm, it can. while basic should be as per minimum wages and than you can put various allowances in it. Rememeber to add allowances like DA, HRA, spl allowance etc and keep basic minimum to save on gratuity or tax.
Hope you understood.
siddharth
From India, Surat
As per a standard norm followed by companies, maximum 40% of gross could be fixed as Basic pay. But now, MP High court has made a judgement that PF should be deducted not only on basic but could also be extended to cover allowances like HRA & conveyance (in effect PF is deductable on gross salary). Let us wait for recent developments reg. review petitions filed in MP High Court and being filed in Madras High Court.
Thanks
R K Nair
From India, Aizawl
Thanks
R K Nair
From India, Aizawl
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EMPLOYEES' PROVIDENT FUND & MISC PROVISIONS ACT '1952.ppt
EMPLOYEES' PROVIDENT FUND & MISC PROVISIONS ACT '1952 [Compatibility Mode].pdf