Varnika Srivastava
Human Resources Manager
+1 Other

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calculate ctc if a person his having daily wages (highly skilled) of 617...as per central wages norm...PF will be deducted on gross salary? is there any circular about in central govt. those who are on daily wages there pf will be deduct on total gross... there is no basic salary?
i.e 617*26=16042*26/100
please help me
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Dear Varnika
No such directive. PF is deducted on Basic and DA. Basic and DA should not be less than minimum wages applicable. Whether person is on monthly wages or on daily wages there should be component of Basic salary.
Shailesh Parikh
99 98 98 10 65
Vadodara
as per central wages those who are on daily wages there is no basic salary... calculation of pf will be on total gross?? isin't?
Dear Varnika,
617*26=16042/-
16042*12% = 1925 (Emp. Contribution)
16042*13% = 2085 (Empr. Cont.)
Total cont. w.r.t of the employee will be (1925+2085 = 4010)
thanks for help.... but if need help like i want to appoint 3 highly skilled as per central wages whose daily wages is Rs. 617....they required Current statutory leaves to be paid are PDF & EDLI @13.67, Bonus@8.33%, retrenchment@4.82%, leaves @5.0% and national holiday @1.0 of basic minimum wages.....now how can i make a salary of person....as per this....and also pf should be calculated on total gross
Dear Vernika,
Let me clear that EDLI contribution is a part of amount disbursed by employer which is calculated autometicly on the basis of EDLI wages at the time of PF challan generation @ 0.5%. Now, employer contribution is 13% therein 8.33% goes to EPS, 3.67 goes to PF, 0.5% goes to admin. charges & 0.5% goes to EDLI.
Statutory minimum Bonus is calculated on the caping of 7000/- @ 8.33%.
As per shop & stablishmet act - Employee is liable to get 05 days leave for every 60 days working only if he has completed 3 month of his continous job.
So, I think at the time of salary prepration, you need to calculate their PF, ESIC, PT & advance deduction if any as well considering caping amount prescribed under the act.
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