Hi,
Can anyone guide me on the components involved in fixing minimum wages, such as:
Basic + DA = Minimum Wages
OR
Basic + DA + HRA = Minimum Wages
This includes the definition of Basic. Is there any Act or Notification indicating Basic components other than the Wages Act 1948?
Thanks,
Sajiv
From India, Indore
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1Can anyone guide me on the components involved in fixing minimum wages, such as:
Basic + DA = Minimum Wages
OR
Basic + DA + HRA = Minimum Wages
This includes the definition of Basic. Is there any Act or Notification indicating Basic components other than the Wages Act 1948?
Thanks,
Sajiv
From India, Indore
Acknowledge(0)Amend(0)
As per the Minimum Wages Act, minimum wages mean a basic rate of wages and Variable Dearness Allowance, which will vary according to changes in the consumer price index and compensate for any increase in the cost of living in the area. Minimum wages are fixed by the respective state governments, and there may be states that include House Rent Allowance as part of the minimum wages.
From an enforcement point of view, the total wages paid to employees should be equal to the minimum wages, irrespective of any bifurcation made by the employer. However, the total pay should not include any reimbursements but should only include actual and regular payments.
Regards,
Madhu.T.K
From India, Kannur
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From an enforcement point of view, the total wages paid to employees should be equal to the minimum wages, irrespective of any bifurcation made by the employer. However, the total pay should not include any reimbursements but should only include actual and regular payments.
Regards,
Madhu.T.K
From India, Kannur
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