Confused About the 2014 Maharashtra Minimum Wages Revision Circular? Need Guidance!

Respected Seniors, I am confused with the above circular received from the Government of Maharashtra. I need a proper and perfect interpretation of the same. Kindly guide me on the above circular.

Regards,
Arun J.

Hi Arun, I have also faced the same problem. After discussions with various consultants and officers, I am attaching some workings here. However, I am not sure and am also trying to discuss with other government officials. This information is for reference only, so please seek suggestions before making a final decision.

Please advise on the correct calculations.

Regards

The DA is the same as COLA (Cost of Living Allowance), i.e., the average rate of Rs. 28 across all categories of workers applicable after the circular is released in July 2014, as per the circular.

Regards,
Radhika

Hi, Just a few suggestions - there is no such thing as Gross CTC. CTC as a component is Gross Pay + Employer contributions to various Social Service Benefits provided to the employee, including PF, ESI, Gratuity (if being allocated). Please compute CTC separately.

Regards, Radhika

The minimum wages for skilled employees in the Engineering Company have been revised to Rs. 7200 per month as per the latest notification. This amount covers only the basic wages for 26 days and does not include components like HRA, DA, etc. Could you please clarify if any additional allowances such as HRA or DA will be provided along with this revised wage? Kindly inform me at your earliest convenience.

Regards.