Minimum Wages and Salary Calculation in Maharashtra
Minimum wages of Maharashtra are as follows - Basic = 5400, and Special allowance is fixed at 1004.
My question is: should the basic + special allowance be used to calculate ESI & PF together, or should they be separate?
Now, to calculate the salary breakdown for a take-home amount of 6000/-. Which of the two options below is correct?
Monthly Salary Breakup - 1
- BASIC + DA: 5400
- HRA: 541
- MEDICAL: 0
- CONVEYANCE: 0
- CITY COMPENSATORY/SPECIAL ALLOWANCE: 1004
- GROSS: 6945
- PF EMPLOYEE: 648
- ESI EMPLOYEE: 122
- PT: 175
- TAKE HOME: 6000
- PF EMPLOYER: 735
- ESI EMPLOYER: 330
- CTC: 8010
Monthly Salary Breakup - 2
- BASIC + DA: 6404
- HRA: 663
- MEDICAL: 0
- CONVEYANCE: 0
- CITY COMPENSATORY/SPECIAL ALLOWANCE: 0
- GROSS: 7067
- PF EMPLOYEE: 768
- ESI EMPLOYEE: 124
- PT: 175
- TAKE HOME: 6000
- PF EMPLOYER: 872
- ESI EMPLOYER: 336
- CTC: 8275
Kindly suggest.
Regards,
Vishvas
From India, Bangalore
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Minimum wages of Maharashtra are as follows - Basic = 5400, and Special allowance is fixed at 1004.
My question is: should the basic + special allowance be used to calculate ESI & PF together, or should they be separate?
Now, to calculate the salary breakdown for a take-home amount of 6000/-. Which of the two options below is correct?
Monthly Salary Breakup - 1
- BASIC + DA: 5400
- HRA: 541
- MEDICAL: 0
- CONVEYANCE: 0
- CITY COMPENSATORY/SPECIAL ALLOWANCE: 1004
- GROSS: 6945
- PF EMPLOYEE: 648
- ESI EMPLOYEE: 122
- PT: 175
- TAKE HOME: 6000
- PF EMPLOYER: 735
- ESI EMPLOYER: 330
- CTC: 8010
Monthly Salary Breakup - 2
- BASIC + DA: 6404
- HRA: 663
- MEDICAL: 0
- CONVEYANCE: 0
- CITY COMPENSATORY/SPECIAL ALLOWANCE: 0
- GROSS: 7067
- PF EMPLOYEE: 768
- ESI EMPLOYEE: 124
- PT: 175
- TAKE HOME: 6000
- PF EMPLOYER: 872
- ESI EMPLOYER: 336
- CTC: 8275
Kindly suggest.
Regards,
Vishvas
From India, Bangalore
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For calculating contributions:
For P.F: You need to include the Basic of Rs. 5400 plus DA or special allowance of Rs. 1004 (HRA excluded).
For ESI: You need to include the Basic of Rs. 5400, DA of Rs. 1004, and HRA of Rs. 663.
Regards,
B. Saikumar
HR & Labour Law Advisor
Mumbai
[Phone Number Removed For Privacy Reasons]
From India, Mumbai
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1931For P.F: You need to include the Basic of Rs. 5400 plus DA or special allowance of Rs. 1004 (HRA excluded).
For ESI: You need to include the Basic of Rs. 5400, DA of Rs. 1004, and HRA of Rs. 663.
Regards,
B. Saikumar
HR & Labour Law Advisor
Mumbai
[Phone Number Removed For Privacy Reasons]
From India, Mumbai
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