Dear All, looking forward to your views on basic salary restructuring as per the minimum wages and the new wage code. The current salary is 100,000 CTC per month. The basic salary is 60,000 per month (minimum wage: 16,500) with a PF contribution on 15,000, i.e., 1,800.
My queries are:
- Can we reduce the current basic to align with the Wage code?
- Can we reduce the current basic to comply with the minimum wages?
Please suggest.
Thanks and regards
From India , Mumbai
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My queries are:
- Can we reduce the current basic to align with the Wage code?
- Can we reduce the current basic to comply with the minimum wages?
Please suggest.
Thanks and regards
From India , Mumbai
Acknowledge(0)Amend(0)
Wages Code and Basic Salary Adjustment
The wages code does not align with your query: Can we reduce the current basic salary to match the Wage code? (Salary is 100,000 CTC per month, Basic is 60,000 per month, Minimum Wages 16,500, PF Contribution on 15,000, i.e., 1,800). There is no provision under the wage code to amend wages paid at a higher rate, but where it is paid less, it should comply with the minimum wages.
From India, Mumbai
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735The wages code does not align with your query: Can we reduce the current basic salary to match the Wage code? (Salary is 100,000 CTC per month, Basic is 60,000 per month, Minimum Wages 16,500, PF Contribution on 15,000, i.e., 1,800). There is no provision under the wage code to amend wages paid at a higher rate, but where it is paid less, it should comply with the minimum wages.
From India, Mumbai
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Minimum wages- Basic.pdf