In my opinion we are required to issue wage slip under the applicable Minimum Wages Act/Contract Labour ( R&A) Act. Forms are provided by the applicable central/state Rules. These form provide us the components to be shown in wage slip. In general we see rate of gross salary, no of days of working, leaves & holidays, wages/salary earned & net pay. Basic & other allowances are fixed by the employer keeping in view the minimum rates of wages as fixed by the appropriate Govt. for the employees working in their employment.
R N KHOLA
3rd July 2016 From India, Delhi
PF, ESI, bonus etc. are statutory component if applicable however allowances like HRA, Medical, conveyance, etc. are not statutory component these are subjected to provide the maximum tax benefit to employee,
3rd July 2016 From India, Basti
The provision for wages slip is meant for the proper awareness of the employee concerned as to what is the rate of his salary/wage, Allowances, No of pay days, Leaves availed, statutory deductions and net payable.
Accordingly, the pay slip should contain each and every component of his rates, earning, deductions and net payable. I do not agree with Mr Devesh Chauhan's suggestion for exclusion of certain components like HRA, medical, conveyance etc.etc. from wage slip.
P K Sharma
4th July 2016 From India, Delhi
pls refer my post carefully i have not suggested to exclude the component like HRA, Medical, conveyance etc the employer may include or exclude it as per their choice No goverment Authority will insist the employer to provide these component as its not statutory however in order to provide tax benefit to employee. employer may add these component No issue,
4th July 2016 From India, Basti