Minimum Wages -

       The Term “Minimum wage” Literally Means  “The minimum payment, an employer has to give to an employee for a particular work, i.e, the lowest limit, below which wages cannot be allowed to sink”

Components or Constituents of Minimum Wages -


According to Section 4 of the Minimum Wages Act, 1948,  (1) Any minimum rate of wages fixed or revised by the appropriate government in respect of scheduled employments under section 3 may consist of –

 (i) a basic rate of wages and a special allowance at a rate to be adjusted at such intervals and in such manner as the appropriate government may direct to accord as nearly as practicable with the variation in the cost of living index number applicable to such workers (hereinafter referred to as the "cost of living allowance"); or

 (ii) a basic rate of wages with or without the cost of living allowance and the cash value of the concessions in respect of suppliers of essential commodities at concession rates where so authorized; or

 (iii) an all-inclusive rate allowing for the basic rate the cost of living allowance and the cash value of the concessions if any.

 (2) The cost of living allowance and the cash value of the concessions in respect of supplied of essential commodities at concession rate shall be computed by the competent authority at such intervals and in accordance with such directions as may be specified or given by the appropriate government.


See Also 

Difference Between Minimum Wages and Fair Wages


0 comments:

Post a Comment

See Also..