From the following particulars, prepare a statement showing the labour cost per man day of 8 hours:
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(a) Basic salary: Rs 2 per day |
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(b) DA: 25 paise for every point over 100 (cost of living index for working class); current cost of living index is 700 points |
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(c) Leave salary: 10% of (a) and (b) |
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(d) Employer’s contribution to PF: 8% of (a), (b) and (c) |
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(e) Employer’s contribution to state insurance: 2.5% of (a), (b) and (c) |
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(f) Expenditure on amenities to labour: Rs 20 per head per mensem |
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(g) Number of working days in a month: 25 days of 8 hours each |