Hi All,
Questions on Minimum Wages and CTC in Delhi
I have two questions mentioned below:
1. In Delhi, can we give net pay less than minimum wages?
2. Can we have a CTC equal to minimum wages, from which we will deduct both the employee and employer parts of PF, ESIC, and the employee's take-home salary will be approximately 13k?
For example, can we provide 16792 as CTC, and deduct both employee and employer PF, ESIC, gratuity, and bonus from the CTC of 16792?
Kindly explain.
Thanks,
Gaurav
From India, New Delhi
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Questions on Minimum Wages and CTC in Delhi
I have two questions mentioned below:
1. In Delhi, can we give net pay less than minimum wages?
2. Can we have a CTC equal to minimum wages, from which we will deduct both the employee and employer parts of PF, ESIC, and the employee's take-home salary will be approximately 13k?
For example, can we provide 16792 as CTC, and deduct both employee and employer PF, ESIC, gratuity, and bonus from the CTC of 16792?
Kindly explain.
Thanks,
Gaurav
From India, New Delhi
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Hi, Generally, minimum wages refer to gross earnings or gross remuneration. While employer/employee PF can be shown in CTC (total expenses incurred by the employer for the employee), you should ensure that the gross earnings match the minimum wages criteria.
Premium paid towards Group Gratuity Scheme to any insurance can be projected in the CTC.
Statutory bonus should be separate, declared on a yearly basis.
From India, Madras
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1015Premium paid towards Group Gratuity Scheme to any insurance can be projected in the CTC.
Statutory bonus should be separate, declared on a yearly basis.
From India, Madras
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Karnataka Minimum Wages Attention ofl affected employers. HR, Lega, Compensation professionals.p df