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ayonadehr
15

I would be framing the CTC structure of our company (software+BPO), i want to know if there is any statutory ruling about the minimum amount of basic that needs to be paid out. say for instance:5000 P.M. is the CTC
Basic: 15,00(30% of 5000)
HRA: 750 (50% of the basic)
Attendance Allowance: 1000
Grade Allowance: 500
Special Allowance:1250
I just want to know if 1500 P.M. of basic is all right or not.
I have the "REVISED MIN WAGES: WB: with me, but I could not get anything from it.
It would be good if you could help me out with this.

From India, Delhi
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tsivasankaran
367

What is the position?Which State?
There is no law about Basic we need to deduce from Minimum Wages. Say if Minimum Wages is applicable to the industary and to that job, then whatever is the minimum Basic plus Da prescribed ahould be fixed as Basic
Give more info to help u tounderstand better
Siva

From India, Chennai
Dolly S
Ayona,
From what I know - your basic needs to be a minimum of 40% of the overall CTC. And HRA is 40% of the basic. This is as per the new regulations.
And as far as I know the minimum wage applies to the overall salary taken home - not the basic or anything.
Hope this helps.
Thx
Chitra

From India, Pune
tsivasankaran
367

Dear Chitra Minimum wages will include only the Basic and DA as per judgement of SC If you provide other benmefits and still pay lesser Baisc and DA you are nopt meeting the requirements of Law Siva
From India, Chennai
ayonadehr
15

hello Sivasankaran,
I am in WB, and my company has both the software and the BPO division,
and as specified earlier, I want to know what is the minimum amount that we can give out as basic, is there any statutory ruling regarding that?
I am attaching herewith the revised salary for all the states, I however do not know if thats current or not.
We are a software company and we also have the BP0 division! do let me know.
Is is that DA + basic will have to be 50% of the CTc? we do not have DA though
thanks and regards,
Ayona

From India, Delhi

Attached Files (Download Requires Membership)
File Type: xls revised_minimum_wages_update_112007_330.xls (350.5 KB, 10491 views)

hirenshah69
it is not necessary if you paid more than mini.waged than its on you to decide the basic.but if you pay only mini wages than its applicable to total amount e.g basic + d.a, but in this case also p.f. act not define any limit as some company bifurcatinf mini ages into basic(50%) +hra(25%) + conveynce (25%), as in Mini wages act it not define in p.f.act

bmnandakishore
2

hi All
I require a small clarification what should be the salary structure for take home salary of 7500/- Rs
Pl help me out inthis matter
How should i consider the ESI (1.75%)
My components
Basic 3000
HRA 1800
conveyance 1500
others 1200
--_________
NEt Home 7500
PT 80
PF
ESI
What should be the ESI and PF Calculation for the above Package Pl heklp me out in this regard
Waiting for a reply

From India, Hyderabad
debasmitadm
1

Hi Nanda Kishore
ESI is calculated on Basic, DA, CCA, Conveyance and all the allowance except washing allowance, which is allwable for any manufacturing unit.
That is on the gross earnings of a person. Its again not applicable if person's gross salary is more than Rs. 10,000.
And in case of PF it is given only on Basic.
HRA is calculated at 40% of Basic if its a non-metro city, and at 50% if its a metro)
So ur break may be as below.
Basic 3000 (40% of sfixed salary)
HRA 1200 (40% Basic)
Conceyance 1800
Others 1500
Total Earnings(a) 7500
Deductions:
Employees contribution to PF : 360 (12% of 3000)
Employees contribution to ESI Fund : 131 (1.75% of 7500)
Professional tax : 80
Total deductions(b)571 (360+131+80)
Take Home (a)-(b)= 7500-571= 6929.
Correct me friends, if I am wrong
regards
Debasmita


From India, Bhubaneswar
uckaushik
Dear All, Please note that the Basic wages should be Arround 60% of Gross Wages. Basic wages should not be less than minimum wages of state. Regards. U. C. Kaushik 9911366133

sarvang20
[quote=ayonadehr;387850]hi,
I would be framing the CTC structure of our company (software+BPO), i want to know if there is ant statutory ruling about the minimum amount of basic that needs to be paid out. say for instance:5000 P.M. is the CTC
Basic: 15,00(30% of 5000)---- keep 35% or more % as basic, its necessary for p.f. basic rules. as well as the min.wages act.
HRA: 750 (50% of the basic)----- min.wage means basic+hra&da its must be more than 103.10 rs. per days wages. so keeps yours min.wages more than 2800 Rs.. if the D.A. INCREASE THAN YOU HAVE TO INCREASE YOURS
MIN WAGES..SO KEEP YOURS MIN. WAGES MORE SO YOU DONT NEED YOURS MIN. WAGES REVISE DURRING YEAR..
I just want to know if 1500 P.M. of basic is all right or not. ----- ITS NOT RIGHT WAY TO KEEP BASIC...
I have the "REVISED MIN WAGES: WB: with me, but I could not get anything from it. -0----- FROM WHICH STATE YOU ARE.. ITS UP TO STATE RULES FOR MIN WAGES REVISED...


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