Good Day All seniors is and experts.
I have One query . In Maharashtra, minimum wage as follows :
Basic 10260 + DA (special allowance) 2444 = 12704
1. On which amount to calculate PF? ( Only BAsic Or whole Rs.12704)
2. If I have to pay this Rs.12704 , do i need to follow the SAME Basic and Allowance or I can structure it as per my convenience? Means is possible to bifurcate this (₹12704) into various parts, for example【Basic 5000+ special allowance 6000 +. Conveyance 1000+ other 704】? If yes, then on which, pf to calculate?
From India, Mumbai
1I have One query . In Maharashtra, minimum wage as follows :
Basic 10260 + DA (special allowance) 2444 = 12704
1. On which amount to calculate PF? ( Only BAsic Or whole Rs.12704)
2. If I have to pay this Rs.12704 , do i need to follow the SAME Basic and Allowance or I can structure it as per my convenience? Means is possible to bifurcate this (₹12704) into various parts, for example【Basic 5000+ special allowance 6000 +. Conveyance 1000+ other 704】? If yes, then on which, pf to calculate?
From India, Mumbai
You should pay PF on the gross salary, ie, Basic and DA (Special allowance)
In whatever manner you bifurcate, the salary as per minimum wages notification is the statutory salary on which PF will be payable. Not only PF but other payments like ESI, Bonus, Gratuity, Leave encashment etc should be based on that salary only.
From India, Kannur
In whatever manner you bifurcate, the salary as per minimum wages notification is the statutory salary on which PF will be payable. Not only PF but other payments like ESI, Bonus, Gratuity, Leave encashment etc should be based on that salary only.
From India, Kannur
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.
Minimum Wage of UP & UK.pdf