Section 7 in The Employee's Deposit-Linked Insurance Scheme, 1976
7.
Contribution.(1)The contribution payable by the employer and the Central Government under sub-section(2) and sub-section(3) of section 6C of the Act, shall be calculated on the basis of the basic wages, dearness allowance (including the cash value of any food concession) and retaining allowance, if any, actually drawn during the whole month whether paid on daily, weekly, fortnightly or monthly basis:[Provided that where the monthly pay of an employee exceeds [six thousand five hundred rupees] [ Inserted by G.S.R. 969, dated 14.7.1978 (w.e.f. 29.7.1978).], the contribution payable in respect of him by the employer and the Central Government shall be limited to the amounts payable on a monthly pay of [six thousand five hundred rupees] [Substituted by G.S.R. 398(E), dated 30.5.2001, for " five thousand rupees" (w.e.f. 1.6.2001). ] including dearness allowance, retaining allowance if any and cash value of food concession.](2)Each contribution shall be calculated to the [nearest rupee, 50 paise or more to be counted as the next higher rupee and fraction of a rupee less than 50 paise to be ignored.] [ Substituted by G.S.R. 547, dated 19.7.1983 (w.e.f. 1.4.1983).]
