Dear Sir/Madam,
in Karnataka as you are aware we have to follow minimum wages, we have new trainees and planning to pay as stipend which is around 10k to 15k. is it mandatory to follow the minimum wages which is above the stipend amount? what are the deductions they will have ?
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Salary as stipend - urgent solution
Replies (5)
The Income Tax Act has further laid down that ‘scholarship granted to meet the cost of education’ is exempt from Income Tax under the section 10(16).Now the question arises should we consider Stipend as ‘Salary’ or as ‘Scholarship’. For this we must review the terms under which such Stipend is paid
Is Stipend Income Taxable? (cleartax.in)
This will be paid as salary, in that case doesnt the company meet the minimum basic rule of Karnataka ?
https://www.bankbazaar.com/tax/karnataka-professional-tax-slab-rate.H T M L
15,000 above pay will attract professional tax as per Karnataka slab rates.
No, my question is if we pay stipend..do we have to meet minimum wages as per labour law?
Central Apprenticeship Council - check out nformation from their website.
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