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Statutory Requirement on basic salary

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(Querist)
20 June 2024 Is there any statutory requirement that basic salary has to be atleast 50 percent of gross or CTC?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 June 2024 According to the new definition outlined in the New wage code 2022, 'wages' or an employee's monthly basic salary cannot be less than 50% of the net CTC (Cost To Company).

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