20 October 2010
We have a unit in Gujarat, where the minimum wages is revised to 162.40 for our category of industry. My question is should this minimum wages be kept as basic Wages on which PF is to be deducted or we can split this 162.40 into seperate allowances and deduct PF on the splitted amount, if yes then what should be the ratio like 30% or 40% or 60% of the min wage as basic pls advise
CAclubindia
