According to the Minimum Wages Act in Tamil Nadu, it is crucial to ensure compliance with the prescribed minimum rates for Basic Wages. For your Solar Manufacturing company in Coimbatore, India, here are the latest minimum rates of Basic Wages under the Minimum Wages Act, 1948:
1. As of
https://www.labour.gov.in/sites/defa...16.07.2021.pdf, the revised minimum rates for different categories of employment in Tamil Nadu are as follows (effective from July 16, 2021):
- Unskilled: INR 336.00 per day or INR 8736.00 per month
- Semi-Skilled: INR 376.00 per day or INR 9776.00 per month
- Skilled: INR 417.00 per day or INR 10842.00 per month
2. To structure the salary accurately, ensure the Basic Wages component aligns with the respective category based on the employees' skills and roles within your Solar Manufacturing company.
3. Calculate the total salary by adding the Dearness Allowance (DA) to the Basic Wages. The DA rates can vary based on the Consumer Price Index and periodic revisions. Ensure you are using the most recent DA rates in your calculations.
4. It is essential to maintain detailed records of salary structures, including Basic Wages and DA components, to ensure transparency, compliance, and fair compensation for all employees.
By following the prescribed minimum rates for Basic Wages under the Minimum Wages Act, you can ensure legal compliance and fair compensation practices within your Solar Manufacturing company in Coimbatore, India.