What are the components of minimum wages in India?
Components of the minimum wage
- the basic wage agreed in your contract;
- performance-related payments and allowances for shift work, irregular hours, etc.;
- weekly or monthly fixed payments for the turnover you generate;
- work-related payments by third parties, e.g. tips or payments agreed between you and your employer;
What is the object of the Minimum Wages Act 1948?
The object of this Act is to promote the welfare of workers by fixing minimum rates of wages in certain industries where labour is not organised and sweated labour is most prevalent.
Is Minimum Wages Act applicable to private companies in India?
It applies to all over India except Jammu and Kashmir. It applies to any employment if it employs 1000 employees in the respective state. It does not apply to any employees in any undertaking owned by the Central government or of the federal railway, except with the consent of the central government.
What components are included in minimum wages?
The minimum rate of wages may consist of a basic rate of wages and a cost of living allowance; or a basic rate of wages, with or without the cost of living allowance, and the cash value of concessions in respect of the supply of essential commodities at concession rates (if authorized); or an all-inclusive rate …
What are the contents of minimum wages?
The components of a wage
- basic pay.
- annual bonuses.
- tips.
- in-kind benefits.
- productivity and performance pay.
- allowances and premiums for non-standard work hours or dangerous work.
What are the objectives of payment of wages act?
The main objective of the Act is to avoid unnecessary delay in the payment of wages and to prevent unauthorized deductions from the wages. Every person employed in any factory, upon any railway or through sub-contractor in a railway and a person employed in an industrial or other establishment.
How wages are fixed under Minimum Wages Act?
(1) Where an employee, whose minimum rate of wages is fixed under this Act by the hour, by the day or by such a longer wage-period as may be prescribed, works on any day in excess of the number of hours constituting a normal working day, the employer shall pay him for every hour or for part of an hour so worked in …
Who will be appointed as an inspector under the Minimum Wages Act, 1948?
According to the sub-section (1) of the Factories Act, 1948, ‘The State Government can appoint individuals who possess the prescribed qualification as Inspectors for the purposes of the Act. ‘
What are wages and minimum wages?
Minimum wages have been defined as the minimum amount of remuneration that an employer is required to pay wage earners for the work performed during a given period, which cannot be reduced by collective agreement or an individual contract.
How is minimum wage rate is fixed under Minimum wages Act 1948?
Revision of minimum wage rates is based on a ‘cost of living index’ and wages can be fixed for an entire state, part of the state, class or classes and employments pertaining to these categories. The fixation of wages is based on the norms mentioned and a wage board (different for different industry).
What is wage wage Act?
The Payment of Wages Act, 1936 regulates payment of wages to employees (direct and indirect). The act is intended to be a remedy against unauthorized deductions made by employer and/or unjustified delay in payment of wages.
Who will be appointed as an inspector under the Minimum Wages Act 1948?