Dear Seniors, Can anyone explain the calculation of the Minimum wage based on CPI points notification for every six months released from central and state government. Please post a related excel sheet calculation of it.
From India, Bangalore
From India, Bangalore
Dear Harinath,
The appropriate Govt (Central Govt & State Govt) notify the minimum wages twice during FY remain enforced April to September and October to March subject to change in price index. Similarly, Govt releases CPI for each quarter, the each point of variation has got monetary value as per the rate escalation due to inflation. The CPI point is different from one place to another, so the rate of variation of that area is applicable to adjacent area. The change is add on VDA for calculation of wages for that quarter but not applicable to establishment not having VDA component but shall follow the minimum wages.
From India, Mumbai
589The appropriate Govt (Central Govt & State Govt) notify the minimum wages twice during FY remain enforced April to September and October to March subject to change in price index. Similarly, Govt releases CPI for each quarter, the each point of variation has got monetary value as per the rate escalation due to inflation. The CPI point is different from one place to another, so the rate of variation of that area is applicable to adjacent area. The change is add on VDA for calculation of wages for that quarter but not applicable to establishment not having VDA component but shall follow the minimum wages.
From India, Mumbai
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