Dear Senior,
Require your expert advice.on below 2 scenario.
Scenario 1:-
Company A is paying as specified below
Minimum Wages in Maharashtra Basic + Special Allowance i.e. 5800+1215 = 7015 and as per Maharashtra Minimum House Rent Allowance Act 5% of Basic is required to be paid as HRA i.e. 5800*5%=290.
Hence an employee should receive 5800+1215+290=7305.
Scenario 2:-
Company B is paying as specified below
Basic =4209
HRA= 2806 ( i.e. 50% of Basic stating 5% is the requirement and we are paying 50% and Minimum wages can be bifurcated in any amount)
Total= 7015
Please suggest which company is paying properly Company A or B?
Thank you in advance for you valuable suggestions.
Require your expert advice.on below 2 scenario.
Scenario 1:-
Company A is paying as specified below
Minimum Wages in Maharashtra Basic + Special Allowance i.e. 5800+1215 = 7015 and as per Maharashtra Minimum House Rent Allowance Act 5% of Basic is required to be paid as HRA i.e. 5800*5%=290.
Hence an employee should receive 5800+1215+290=7305.
Scenario 2:-
Company B is paying as specified below
Basic =4209
HRA= 2806 ( i.e. 50% of Basic stating 5% is the requirement and we are paying 50% and Minimum wages can be bifurcated in any amount)
Total= 7015
Please suggest which company is paying properly Company A or B?
Thank you in advance for you valuable suggestions.