How to arrive at minimum wages as per central sphere.
SAHIL KUMAR
(Querist) 20 August 2017
This query is : Open
IT IS MY HUMBLE REQUEST TO ALL EXPERTS ON LCI KINDLY LOOK INTO THE CALCULATION DONE BY ME AND STATE WHETHER IT IS RIGHT OR WRONG? CUREENT PER DAY WAGES FOR WATCH & WARD WITH ARMS IS RS.710/- PER DAY AS PER CLC. NOW MY CALCULATION TO ARRIVE AT THE LOWEST MINIMUM COST WHICH INCLUDES EMPLOYER'S CONTRIBUTION TO P.F. & E.S.I .IS AS FOLLOWS:
1) 26 DAYS WAGES IN MONTH ---- 18460/-
2) 4 DAYS OFF WAGES FOR SUBSTITUTE(24*7 SECURITY TO BE PROVIDED) --- 2840/-
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TOTAL BASIC WAGES ---- 21300/-
3) PROVIDENT FUND CONTRIBUTION OF EMPLOYER @ 13.15% ---------- 2800.95/-
4) E.S.I. CONTRIBUTION OF EMPLOYER @4.75% ------------ 1011.75/-
5) COST OF 3 NATIONAL HOLIDAYS(26TH JAN 15TH AUG, 2ND OCT) 177.50
6) MINIMUM BONUS AS PER BONUS ACT (7000*8.33% PER MONTH) -- 583.10/-
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TOTAL COST FOR ONE MONTH OF A SECURITY GUARD WITH ARMS 25873.30/-
NOTE :- 4 DAYS OVERTIME CANNOT BE GIVEN AS I WANT TO KEEP THE COST LOWEST & WEEKLY OFF IS ALSO NOT ALLOWED AS IT IS SECURITY WORK WHICH IS TO BE PROVIDED 24/7.
KINDLY EXAMINE THE CALCULATION KEEPING ALL THE REGULATIONS OF CENTRAL SPHERE AND ALSO TO KEEP THE COST MINIMUM. HOPE LCI EXPERTS WILL HELP ME.
