Dear Seniors,
I would like to gather more information on various price indices and its effect on DA. I am from Tamilnadu and getting information on monthly basis about various indices specifically for even my district too..
We do not have VDA but have Basic, DA and other allowances. Can anyway I can make use of this information. Please advise
And I understand that National / Festival Holidays wages are eligible only if an employee worked proceeding and succeding days of a holiday. Is this correct? Please advise
From India, Tiruppur
12I would like to gather more information on various price indices and its effect on DA. I am from Tamilnadu and getting information on monthly basis about various indices specifically for even my district too..
We do not have VDA but have Basic, DA and other allowances. Can anyway I can make use of this information. Please advise
And I understand that National / Festival Holidays wages are eligible only if an employee worked proceeding and succeding days of a holiday. Is this correct? Please advise
From India, Tiruppur
Dear If you don’t have VDA as a salary component in your company, then you don’t need to worry about CPI. CPI is directly related to VDA and nothing else. Regards
From India, New Delhi
From India, New Delhi
Hi
CPI is nothing but VDA the name is termed differently in different states, CPI is Consumer Price Index and VDA is Variable Price Index. So both are the same.
Coming to the point of getting the Holiday wages, the employee got to be present either on succeeding or Proceeding days of the holiday, if he is absent on succeeding and proceeding days of the holidays the holidays in between the days of absent are treated as absent and no holiday wages to be paid by the employer.
Mohan Rao
Manager HR
From India, Visakhapatnam
CPI is nothing but VDA the name is termed differently in different states, CPI is Consumer Price Index and VDA is Variable Price Index. So both are the same.
Coming to the point of getting the Holiday wages, the employee got to be present either on succeeding or Proceeding days of the holiday, if he is absent on succeeding and proceeding days of the holidays the holidays in between the days of absent are treated as absent and no holiday wages to be paid by the employer.
Mohan Rao
Manager HR
From India, Visakhapatnam
Thank you for the inputs..But I would like to have a copy of related (holiday wage) documents / part of act doc for my verification and better understanding.
From India, Tiruppur
From India, Tiruppur
Dear Mr. ant 1511 So I guess that Mr. Rao is not correct on the VDA part Any comments, please go ahead. regards
From India, New Delhi
From India, New Delhi
i also agree with the part of VDA. I think that Mr. Rao is not clear on this part kamal From Bangladesh
From Bangladesh, Dhaka
From Bangladesh, Dhaka
As per section 79 of factories Act 1948 ,incase of Earned leaves holidays needs to be excluded. Regards, Girish
From India
From India
My dear Awvik
It is amazing to find such lack of awareness.
Please do something about it by explaining in detail.
VDA - Variable Dearness Allowance (which is based on CPI)
CPI - Consumer Price Index (which is tracked every week by NCAER, FinMin).
VDA is in addition to FDA (Fixed Dearness Allowance) and is the variable component of DA.
VDA changes every quarter (which is notified) as a percentage change to CPI.
Regards.
From India, Delhi
It is amazing to find such lack of awareness.
Please do something about it by explaining in detail.
VDA - Variable Dearness Allowance (which is based on CPI)
CPI - Consumer Price Index (which is tracked every week by NCAER, FinMin).
VDA is in addition to FDA (Fixed Dearness Allowance) and is the variable component of DA.
VDA changes every quarter (which is notified) as a percentage change to CPI.
Regards.
From India, Delhi
Dear Mr. Hansdah,
That's the problem with a few members in this site. They are so confident about themselves that they don't really bother what comments they are posting. They don't realize that what they are posting is affecting the new generation of HR professionals who are not aware of such complicated matters such as VDA or CPI. They are getting the wrong information which in turn is affecting there HR knowledge.
By the way I have posted earlier on matters related to VDA and CPI. So if anyone is interested he or she can check with my earlier post.
Regards
From India, New Delhi
That's the problem with a few members in this site. They are so confident about themselves that they don't really bother what comments they are posting. They don't realize that what they are posting is affecting the new generation of HR professionals who are not aware of such complicated matters such as VDA or CPI. They are getting the wrong information which in turn is affecting there HR knowledge.
By the way I have posted earlier on matters related to VDA and CPI. So if anyone is interested he or she can check with my earlier post.
Regards
From India, New Delhi
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