For your information :-
The Basic and VDA are the compulsory parts in the salary. And these are attached with minimum wages which is fixed by the state government. The monthly salary must be equal to the minimum wages or more than that. But it shouldn't fall below that fixed minimum wages. The gross salary may be the sum of Basic+DA+HRA+other allowances. If the gross salary crosses the limit of minimum wages then we have to consider the below percentage of bifurcation.
In metropolitan city : Basic = 50% of Gross
Non-Metropolitan : Basic = 40% of Gross
From India, Bangalore
8The Basic and VDA are the compulsory parts in the salary. And these are attached with minimum wages which is fixed by the state government. The monthly salary must be equal to the minimum wages or more than that. But it shouldn't fall below that fixed minimum wages. The gross salary may be the sum of Basic+DA+HRA+other allowances. If the gross salary crosses the limit of minimum wages then we have to consider the below percentage of bifurcation.
In metropolitan city : Basic = 50% of Gross
Non-Metropolitan : Basic = 40% of Gross
From India, Bangalore
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
SALARY SHEET CALCULATION.xls