dear sir,
plz can u tell me how we can devide minimum wages in perks like basic, hra etc .
e.g if minimum wages is 2650 the what is the basic % and Hra % and other perkes %.
if Basic + Hra = Minimum wages than what is the % of Hra
or minimum wages can be devided as = basic+hra+any other perk
Thanks
Manish
The purpose of Minimum Wages Act is to provide for fixing of minimum rates of wages in certain employments.Wages means all remuneration capable of being expressed in terms of money. It includes house rent allowance but does not include
Value of house accommodation, supply of light, water, medical attendance
Value of any other amenity provided, if excluded by Government order
Contribution to pension fund or provident fund or insurance
Traveling allowance
Special expenses incurred by the nature of employment
Gratuity payable on discharge. [section 2(h)].
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