Annexure III - Propsed new cost model template

Sl. Item / Element Percentage Guard Remarks

A Min wages (Basic + VDA) Rs. 309.00 As Dhanbad falls under B class city.
B Salary for 26 days Rs. 8,034.00
C Reliever charges for 4.5 days @ 16.67% on B 16.67% Rs. 1,339.00
D Total basic + VDA for 30.5 days Rs. 9,373.00 x 12.5
PF (EPF 12%, EDLI 0.5%, Admn Charges 1.11%) %
E 13.61% Rs. 1,275.67
on D
In locations where ESI is not applicable, the service providers need
to take a insurance policy that covers all the benefits being provided
F ESI @4.75% on D 4.75% Rs. 445.22
by ESI scheme. This would be part of the contract. Tata Steel will
monitor compliance through periodic audit.
G Bonus @ 8.33% on D 8.33% Rs. 780.77
Leave Pay @8% on D
PL (@1 day for 20 days of work)=15.60 days
H 9% Rs. 799.11
CL ( @ 7 days for 1 year) = 7.00 days
National Holidays per year = 4.00 days
Retrenchment Compensation /Compensation at the
time of seperation(15 days wages for every To be reimbursed on actual at retrenchment on annual basis to
I Rs. 390.54
completed year of employment, with minimum 225 the service provider
days of work)
J Sub-Total Rs. 13,064.30
Overheads including uniform, training,
K communication, office administration, supervison etc 5% Rs. 468.65
as % on D
L Margin as % on D 10% Rs. 937.30
M Special local allowances applicable
N Total rate for one man month sum( J to M) Rs. 14,470.25