Under the Code on Social Security, 2020, which of the following components is expressly EXCLUDED from the definition of "wages"?

Explanation:  One of the most significant reforms introduced by all four Labour Codes is a uniform definition of "wages" the same definition applies across the Code on Wages, Industrial Relations Code, Code on Social Security, and Occupational Safety Code. Under this definition, wages include basic pay, dearness allowance, and any retaining allowance. However, the Code expressly excludes several components from the definition of wages, and House Rent Allowance (HRA) is one of them. The other excluded components include bonuses not forming part of the employment contract, employer contributions to PF/pension, conveyance allowance, overtime allowance, commissions, gratuity payable on discharge, and retrenchment compensation. The practical significance of this definition is that if the excluded components together exceed 50% of total remuneration, the excess amount is treated as remuneration and included back into wages this is the "50% cap rule" introduced to prevent employers from artificially suppressing basic wages. Option (A) and (B) are incorrect as both basic pay and DA are expressly included in the definition of wages. Option (D) is a general description that broadly forms part of wages and is not an exclusion.