Minimum Basic for PF Calculation
Please advise me on what the minimum basic should be for PF calculation as per the Minimum Wages Act, and which zone should be considered. We are licensed under the Shop Establishment Act.
Regards,
Hema R. Iyengar
From India, Mumbai
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Please advise me on what the minimum basic should be for PF calculation as per the Minimum Wages Act, and which zone should be considered. We are licensed under the Shop Establishment Act.
Regards,
Hema R. Iyengar
From India, Mumbai
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Please advise me on what the minimum basic should be for PF calculation as per the Minimum Wages Act and which zone should be considered. We are licensed under the Shop Establishment Act.
Regards,
Hema R. Iyengar
From India, Faridabad
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38Regards,
Hema R. Iyengar
From India, Faridabad
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As per minimum wages, it should be the same as minimum wages. However, for the purpose of PF, we can split the minimum wages as per the decision of the court in the case of G4S Security vs. RPF Gurgaon and also the decisions of some other courts.
Attribution: https://www.citehr.com/404423-minimu...#ixzz1t3N0vvkB
From India, Faridabad
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Attribution: https://www.citehr.com/404423-minimu...#ixzz1t3N0vvkB
From India, Faridabad
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Hi Hema As you are registered under Shops & Commercial Establishments act you should follow minimum Basic & DA as per shops and comercial act itself. On that base itself PF should be deducted. :)
From India, Bangalore
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From India, Bangalore
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Dear all, PF officials are not accepting the split up of minimum wages. A notification released on 23rd May 2011 in this connection is attached herewith for your reference. sunjay2904
From India, Madras
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From India, Madras
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Yes, rightly said by Sunjay2904 splitting of Minimum Wages is not permissible by EPFO. Hence kindly note
From India, Mumbai
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From India, Mumbai
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As per minimum wages, it should be the same as the minimum wages, but for the purpose of PF, we can split the minimum wages at 95% of the rate. The remaining 5% can be deemed as HRA. Suppose the minimum wage for a particular state is Rs. 3600, then we can split it into Basic 3420 and HRA 180, i.e., 3420 for PF.
Regards.
From India, Solan
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Regards.
From India, Solan
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Ms. Hema,
Minimum wages comprise of Basic (2250) + DA (925) + HRA (675 = 30% of basic) = Rs. 3850 (As per the Shops and Establishment Act of Tamil Nadu).
PF recovery to be made for Basic + DA = Rs. 3175/- since HRA is not included under the Basic wage definition under the Employees' Provident Fund scheme.
Regards,
Raju
From India, Madras
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Minimum wages comprise of Basic (2250) + DA (925) + HRA (675 = 30% of basic) = Rs. 3850 (As per the Shops and Establishment Act of Tamil Nadu).
PF recovery to be made for Basic + DA = Rs. 3175/- since HRA is not included under the Basic wage definition under the Employees' Provident Fund scheme.
Regards,
Raju
From India, Madras
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In UP, the minimum wages effective from April 2012 for an unskilled worker are Rs 100 basic + Rs 74.14 DA = Rs 174.14 per day. This amounts to Rs 4,528 per month. Can I take Rs 2,800 Basic + Rs 1,750 Other Allowances = Rs 4,550 for an unskilled worker, as PF will be calculated on the Basic only?
Please comment and provide your valuable advice.
Regards,
Sarvesh
From India, Mumbai
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Please comment and provide your valuable advice.
Regards,
Sarvesh
From India, Mumbai
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Splitting of minimum wages for PF in abeyance (1).pdf
SELF-CERTIFICAT E PROFORMA UNNDER THE MINIMUM WAGES ACT, 1948.doc