Correct choice is (d) Pay for a standard work period
The explanation: Basic wages have been defined to mean all cash emoluments, except:
-Cash value of any food concession;
-Any dearness allowance;
-House rent allowance, overtime allowance, bonus, presents and
-Commission or any other similar allowance.
The concept of basic wages on which PF contribution is to be calculated has always been a debatable issue. The Supreme Court has laid down two tests to determine whether a component is included in the definition of basic wages or not. These are test of universality and test of contingency.