Dear Seniors,
I am filling up the Minimum Wages Form III (Rule 21 (4-A) Annual Return) for the first time. Please comment on whether my calculations are correct:
1) We have arrived at the total number of days worked during the year = 304 (excluding weekly offs & holidays).
2) The number of persons employed during the year (after counting the manpower for 12 months & totaling them up) = 1702.
3) Number of Mandays worked during the year: (Equal to the average number of persons employed during the year * number of working days in the year) = (1702/12) * 304 = 142 * 304 = 43168.
4) Average daily number of persons employed during the year = (Equal to the Aggregate Number of attendances during the year/Number of working days) = 1702/304 = 5.598 = 6 persons.
5) Total wages paid in cash: Should this be the gross salary or the take home (i.e., after deduction of PF/ESI/PT etc)? Please guide.
Your valuable inputs will be highly appreciated.
From India, Bharuch
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17I am filling up the Minimum Wages Form III (Rule 21 (4-A) Annual Return) for the first time. Please comment on whether my calculations are correct:
1) We have arrived at the total number of days worked during the year = 304 (excluding weekly offs & holidays).
2) The number of persons employed during the year (after counting the manpower for 12 months & totaling them up) = 1702.
3) Number of Mandays worked during the year: (Equal to the average number of persons employed during the year * number of working days in the year) = (1702/12) * 304 = 142 * 304 = 43168.
4) Average daily number of persons employed during the year = (Equal to the Aggregate Number of attendances during the year/Number of working days) = 1702/304 = 5.598 = 6 persons.
5) Total wages paid in cash: Should this be the gross salary or the take home (i.e., after deduction of PF/ESI/PT etc)? Please guide.
Your valuable inputs will be highly appreciated.
From India, Bharuch
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Dear Seniors,
I am filling up the Minimum Wages Form III (Rule 21 (4-A) Annual Return) for the first time. Please comment on whether my calculations are correct:
1) We have derived the total number of days worked during the year as 304 (excluding weekly offs & holidays).
2) The number of persons employed during the year (after counting the manpower for 12 months & totaling them up) is 1702.
3) Number of Mandays worked during the year: (Is equal to the average number of persons employed during the year * number of working days in the year) = (1702/12) * 304 = 142 * 304 = 43168
or
Number of Mandays worked during the year = (Number of days in each month * Number of persons each month) = 44398/12 = 3699.83
Which of the above is correct?
4) The average daily number of persons employed during the year = (Is equal to the Aggregate Number of attendances during the year/Number of working days) = 1702/304 = 5.598 = 6 persons.
5) Total wages paid in cash: Should this be the gross salary or the take-home (i.e., after deduction of PF/ESI/PT etc.)? Please guide.
PLEASE PROVIDE YOUR FEEDBACK URGENTLY; YOUR VALUABLE INPUTS WILL BE HIGHLY APPRECIATED.
From India, Bharuch
Acknowledge(0)Amend(0)
I am filling up the Minimum Wages Form III (Rule 21 (4-A) Annual Return) for the first time. Please comment on whether my calculations are correct:
1) We have derived the total number of days worked during the year as 304 (excluding weekly offs & holidays).
2) The number of persons employed during the year (after counting the manpower for 12 months & totaling them up) is 1702.
3) Number of Mandays worked during the year: (Is equal to the average number of persons employed during the year * number of working days in the year) = (1702/12) * 304 = 142 * 304 = 43168
or
Number of Mandays worked during the year = (Number of days in each month * Number of persons each month) = 44398/12 = 3699.83
Which of the above is correct?
4) The average daily number of persons employed during the year = (Is equal to the Aggregate Number of attendances during the year/Number of working days) = 1702/304 = 5.598 = 6 persons.
5) Total wages paid in cash: Should this be the gross salary or the take-home (i.e., after deduction of PF/ESI/PT etc.)? Please guide.
PLEASE PROVIDE YOUR FEEDBACK URGENTLY; YOUR VALUABLE INPUTS WILL BE HIGHLY APPRECIATED.
From India, Bharuch
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Dear Seniors, Please help as I am held up due to this calculations.
From India, Bharuch
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From India, Bharuch
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Dear Tittli ji,
My comments are as follows:
Absolutely right.
I have not understood what you said. The number of persons employed during the year can be determined by counting headcounts employed throughout the year.
Mandays refer to the total number of days worked by the employed persons. Mandays can be calculated by adding up the number of days worked by each person during the year.
The average daily number of persons employed during the year means mandays divided by the number of days worked. If the average is 6 persons, then the answer in point 2 above is incorrect. Please note that the aggregate number of attendances refers to mandays.
According to me, total wages paid in cash means gross salary less deductions for fines and damages.
From India, Mumbai
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My comments are as follows:
Absolutely right.
I have not understood what you said. The number of persons employed during the year can be determined by counting headcounts employed throughout the year.
Mandays refer to the total number of days worked by the employed persons. Mandays can be calculated by adding up the number of days worked by each person during the year.
The average daily number of persons employed during the year means mandays divided by the number of days worked. If the average is 6 persons, then the answer in point 2 above is incorrect. Please note that the aggregate number of attendances refers to mandays.
According to me, total wages paid in cash means gross salary less deductions for fines and damages.
From India, Mumbai
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FORM III annual return minimum wages.doc
Minimum Wages (Central) Amendment Rules 2015 - Unified Annual Return.pdf