Dear All,
I have a doubt as to whether or not the below structure is complying with the Minimum Wages structure. Case below:
Minimum Wage in Uttar Pradesh - Rs 5800
Basic - Rs 5800
Bonus - Rs 292
This makes total payabale salary Rs 6092
Employee Contribution = Rs 803 (PF - Rs 696 and ESI - Rs 107)
Net Payabale Salary to employee = Rs 6092 - Rs 803 = Rs 5289
Now, net payabale salary (5289) has fallen below Minimum wage level (5800)
So, is the above structure correct, or should I put Net Payabale Salary as Rs 5800 and work my way up to calculate Basic and Bonus.
I have a doubt as to whether or not the below structure is complying with the Minimum Wages structure. Case below:
Minimum Wage in Uttar Pradesh - Rs 5800
Basic - Rs 5800
Bonus - Rs 292
This makes total payabale salary Rs 6092
Employee Contribution = Rs 803 (PF - Rs 696 and ESI - Rs 107)
Net Payabale Salary to employee = Rs 6092 - Rs 803 = Rs 5289
Now, net payabale salary (5289) has fallen below Minimum wage level (5800)
So, is the above structure correct, or should I put Net Payabale Salary as Rs 5800 and work my way up to calculate Basic and Bonus.