Hello All,
I am confused about the Minimum Wage Act as the government announces the rates. These rates are provided on a daily and monthly basis.
1. What is the difference between daily and monthly rates?
2. Is it Basic + DA = MW rate?
3. If a company provides Basic, HRA, Medical, Conveyance, and Special Allowance to an employee, should the sum of all these be equal to the Minimum Wage Rate or should we base it on the basic rate?
4. After deduction of PF, should the salary be equal to the MW or should the gross salary be at the MW rate?
Vikas Mishra.