Minimum Wages under the Minimum Wages Act, 1948.
Minimum Wages under the Minimum Wages Act, 1948. Minimum Wages Minimum wages are at the poverty line level. It is the lowest limit of wages and it cannot further sink. Minimum wages provides bare subsistence and should be paid irrespective of the companies extent of profit, financial condition of establishment and availability of workmen. Minimum wages are independent wages and applies to all industries weather big or small. Minimum wages are not defined in any act because there are various industries and each industry is different from the other and it is also different from one part of country to the other part of the country, therefore it is not possible to lay down same uniform minimum wages for all. Case Laws :- 1) Hydro (Engineers) Private Ltd V. The workmen. In this case it was held that minimum wages should be set based on three factors such as:- First factor - The prevailing cost of essential commodities (which simply means that in today's time what is the price or rate ...