Here is a complete solution and answer of your question. please go thru the weblinks posted below
http://labour.nic.in <link updated to site home>
Minimum Wages and Dearness Allowance w.e.f. 01.10.2011
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Thanks for providing detailed information.
my another query is:
Previously we were paying Basic-6084rs+ DA-338Rs,when Min wage was 6422rs (monthly -for 26days) that time deducting 771rs Employee contribution for EPF + 113 rs as ESIC.employee got net salary-5538rs.
if we make the changes,it would be Basic-4680+ DA-1976 , and min wage would be 6656rs( monthly -for 26 days). 799rs would be employee share for EPF +117 rs asESIC. employee will get net salary-5540rs.
Is above calculation right?
Are our company following the right method for salary calculation?