No Tags Found!

rajusharadha@yahoo.com
4

I agree with Mr Ashokelango. But we may have to get declaration form 11 under para 34 of the scheme.
From India, Madras
priyadarshinibn
25

Dear Khushi,
As per minimum wages act basic salary of the employee should be Rs.3896/-
If basic salary of an employee lies in between 3896 to 6500; Employee PF contribution will be deducted on 100% Basic salary.
If basic salary of an employee is more than 6500, PF will be deducted on Rs.6500/-.
With Warm Regards,
Priyadarshini

From India, Bangalore
loginmiracle
362

Dear Khushi,
As far as I know no law prescribe how much should be the basic pay for any employee. Leave alone the rest.
Of course for Industrial employees who follow whole sale/Consumer Price Index based DA system there is a component called Fixed and Variable DAs. (Mostly Unionised Estts.) However it is upto you to fix the Basic pay, why not it could be 100 % ?
To support your problem- many estt. follow consolidated remuneration without breaking into other components in which case it will be considered as Basic pay only. Am I correct ?
kumar.s.

From India, Bangalore
phaniacp
6

yes it can be 100% But it make a lot of diiference to the organisation in view of Gratuity and other beneficiary terms
From India, Warangal
Ajay2201
In my opinion Khushi can definitely keep 100% basic and keep employees exempted from EPF, if basic is above 15,000/- then EPF is not mandatory.
There is no rule which prescribes maximum percentage of basic. Yes Company may pay higher gratuity but that will happen only after five years. Bonus is not mandatory for any one drawing basic above 10,000 PM.
Request elders to comment.

From India, Hyderabad
cms.sureshhr
12

As per my knowledge, Pf is calculate basic+d.a, retaining allowance and cash paid food concession. % will be epf act.
From India, Pune
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.






Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.