Is it mandatory to give HRA & Conv.,from the compliaces point of view?
From India, Delhi
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1From India, Delhi
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Dear Arpit It is not mandatory to give HRA & Conv. for the compliance point of new, but the consolidated wages should be atleast minimum wages.
From India, Gurgaon
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From India, Gurgaon
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Dear Mukesh, As per EPF Rule, can we bifurcate the minimum wage into Basic, HRA, Conv etc. Please advise with case history. Regards Harkishan Tanwer Manager-HR & ADM 09873141542
From India, Mumbai
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From India, Mumbai
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As per the provisions of the Employees' Provident Funds & Miscellaneous Provisions Act, 1952, the management can bifurcate the minimum wages into Basic, HRA, and Conveyance only; no other head is allowed. Furthermore, if we have not bifurcated the minimum wages of some employees/workers and the management has paid a consolidated amount, then the management cannot bifurcate the same. However, the management can bifurcate the minimum wages for employees who will join in the future.
Thank you.
Regards
From India, Gurgaon
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Thank you.
Regards
From India, Gurgaon
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Dear Sir, it is not mandatory for the compliance point of view, but may be for income tax benefit point of view. Anil Sharma
From India, New Delhi
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From India, New Delhi
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Dear Mr. Azad, plz can u tell us the criteria of bifurcation of Minimum wages into basic, HRA, Conv.(%age of Basic, HRA and Conv. Allowance.) if the minimum wages is 3850/-. Manish Sharma
From India, Patiala
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From India, Patiala
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In Maharashra an establishment employing more than 50 employees has to pay minimum 5% as HRA of Basic + DA
From India, Pune
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From India, Pune
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The minimum wage in Punjab is Rs. 3850/-. You have to keep the Basic at Rs. 2700/-.
HRA Rs. 850/- (the HRA should be approximately 25% to 40% of the basic salary)
Conveyance Rs. 300/- (the Conveyance should be approximately 10% to 20% of the basic salary)
Nothing specifies the percentage of bifurcation of minimum wages in any rule. However, we have to decide the same according to the parameters mentioned in the Income Tax Rules.
From India, Gurgaon
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HRA Rs. 850/- (the HRA should be approximately 25% to 40% of the basic salary)
Conveyance Rs. 300/- (the Conveyance should be approximately 10% to 20% of the basic salary)
Nothing specifies the percentage of bifurcation of minimum wages in any rule. However, we have to decide the same according to the parameters mentioned in the Income Tax Rules.
From India, Gurgaon
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Minimum Wage of UP & UK.pdf