Understanding Minimum Wage and Provident Fund: What Are the Current Rates and Benefits?

Hello, can anybody tell me what the current minimum wage rate is for labor, and what are the benefits of the provident fund and its applicable rate after deducting tax?

Thank you.

You didn't mention, "Which state do you need to know the minimum wage rate for?" Because each state follows a different wage rate. Kindly be clear about your state.

Thanks,
Parmod Kumar

Minimum Wage Update and Provident Fund Details

With effect from November 2009, the National Floor Level of Minimum Wage has been increased to Rs. 100 per day from Rs. 80 per day (which was in effect since 2007).

Enrolment in Provident Fund Schemes

An employee is eligible for membership from the day he joins the covered establishment. If the employee's emoluments exceed Rs. 6,500/- per month, he has the option to join the Scheme(s) with the consent of the employer. Declare previous employment details, if any, in Form No. 11, to the employer. On becoming a member of the Schemes, file details in Form No. 2 (family particulars/nominations) through the employer.

Contribution and Benefits

The rate of contribution payable by a member shall be at 12% of his emoluments. A member can contribute statutorily over and above the prescribed rate. A member is entitled to various benefits and facilities such as withdrawals, advances, pensions, death insurance, etc.

Hi Neha, this is the link where you can find the latest wage rates. Also, visit the Delhi government labor site where you can find the wage rates with amendments: https://www.citehr.com/46299-delhi-m...#axzz17P16jVe9.

Thanks,
Pamrod

The minimum wage you've given is the old one. Please provide the new one as minimum wages are revised every six months. PF will be calculated on the whole minimum wage.