Respected Members, Need help.
Currently, I'm working in a manufacturing pharma company and here salary structure is as per below:
Basic 60%-7200 (as per govt. rule basic salary will be minimum 11700 for semi skilled worker)
HRA- 4200
Bonus8.33%-600
Gross Salary 12000
To generate an ECR Challan we show fixed basic amt.11700/- and mention Basic for payable days amt.7200/- , calculate PF on payable days is this possible?
From India, Anand
Currently, I'm working in a manufacturing pharma company and here salary structure is as per below:
Basic 60%-7200 (as per govt. rule basic salary will be minimum 11700 for semi skilled worker)
HRA- 4200
Bonus8.33%-600
Gross Salary 12000
To generate an ECR Challan we show fixed basic amt.11700/- and mention Basic for payable days amt.7200/- , calculate PF on payable days is this possible?
From India, Anand
Please note that its advisable to maintain the Basic wages not lesser than the Minimum wages.
In your case Gross wages is is Basic + HRA only. At any cost Statutory Bonus shall not be part of Gross wages & the same may be part of CTC
From India, Bangalore
633In your case Gross wages is is Basic + HRA only. At any cost Statutory Bonus shall not be part of Gross wages & the same may be part of CTC
From India, Bangalore
Miss. Priya
You should have to discuss with Management about the Minimum wages as per government norms and then maintain the minimum wages.
HRA is the part of gross salary not of basic salary so do not calculate Bonus on HRA value.
Also for PF, basic salary can not be less then from minimum wages as per gov. norm.
From India, Delhi
You should have to discuss with Management about the Minimum wages as per government norms and then maintain the minimum wages.
HRA is the part of gross salary not of basic salary so do not calculate Bonus on HRA value.
Also for PF, basic salary can not be less then from minimum wages as per gov. norm.
From India, Delhi
Dear Mr. Raj,
Thanks for your reply.
I had discussed with management about the minimum wages as pes govt. rules but only in this case they want pf should cut lesser as if basic salary is minimum 11700 then company side pf 13 % is 1521 and its increase his CTC .bonus is calculated on basic salary.
From India, Anand
Thanks for your reply.
I had discussed with management about the minimum wages as pes govt. rules but only in this case they want pf should cut lesser as if basic salary is minimum 11700 then company side pf 13 % is 1521 and its increase his CTC .bonus is calculated on basic salary.
From India, Anand
Hello, For ECR Challan, use fixed Basic amt. ₹11,700/- and mention Basic for payable days as ₹7,200/-. Calculate PF on payable days. Hope this helps.
From India, Bhubaneswar
From India, Bhubaneswar
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.
Creating a Competitive Salary Structure.doc
Salary Structure.zip