A presentAtion on……WAges                    alamazfar590@gmail.com                  By:AZFAR ALAM
WAGES               alamazfar590@gmail.comA wage is a compensation, usually financial, received byworkers in exchange for ...
TYPES OF WAGES                              alamazfar590@gmail.com1.Minimum wages.2.living wages.3.fair wages.
MINIMUM WAGES                                           alamazfar590@gmail.com The minimum amount of compensation an empl...
objective…                alamazfar590@gmail.com• To provide minimum wages to the workers working in  organized sector.  T...
LIVING WAGESA theoretical wage level that allows the earner to afford                                             alamazfa...
FAIR WAGES                                                alamazfar590@gmail.comFair Wage is a mandatory minimum wage set ...
alamazfar590@gmail.com                          objectives….           The Fair Wages Committee in this connection observe...
alamazfar590@gmail.com
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Wages2

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Wages2

  1. 1. A presentAtion on……WAges alamazfar590@gmail.com By:AZFAR ALAM
  2. 2. WAGES alamazfar590@gmail.comA wage is a compensation, usually financial, received byworkers in exchange for their labor.
  3. 3. TYPES OF WAGES alamazfar590@gmail.com1.Minimum wages.2.living wages.3.fair wages.
  4. 4. MINIMUM WAGES alamazfar590@gmail.com The minimum amount of compensation an employee must receive for performing labor. These are fixed by state governments with regard to industries and the employer has to pay at least this much of wages (generally @ per day). These are generally revised every two / five years based on recommendations of a wage board (different for different industry) for this purpose .
  5. 5. objective… alamazfar590@gmail.com• To provide minimum wages to the workers working in organized sector. To stop exploitation of the workers . To empower the government to take steps for fixing minimum wages and to revise this wages every two years.
  6. 6. LIVING WAGESA theoretical wage level that allows the earner to afford alamazfar590@gmail.comadequate shelter, food and the other necessities of life.A living wage is a wage which is based upon the cost of livingin an area, rather than an arbitrary minimum.Under an ideal living wage, someone who works an ordinary40 hour per week job would be able to afford shelter, food,health care, and other basic necessities of life.The amount of a living wage could potentially vary quite a bit,as standards of living are different in different parts of theworld, and the overall cost of living is also subject to extremefluctuation
  7. 7. FAIR WAGES alamazfar590@gmail.comFair Wage is a mandatory minimum wage set at rates which arevery similar to those paid to unionized labour doing the task inquestion.Fair wages is an adjustable step that moves up according to thecapacity of the industry to pay, and the prevailing rates of wages inthe area of industry.
  8. 8. alamazfar590@gmail.com objectives…. The Fair Wages Committee in this connection observed : the objective is not merely to determine wages which are fair in the abstract, but to see that employment at existing levels is not only maintained, but if possible, increased. From this point of view, it will be clear that the levels of the wages should enable the industry to maintain production with efficiency. The capacity of industry to pay should, therefore, be assessed by the Wage Boards in the light of this very important consideration. The Fair Wage Committee appointed by the Government of India, as stated earlier, drew a distinction between a minimum and a living wage and observed that the minimum wage is less than the living wage. With regard to the fair wage, the Committee recommended that it should be above the minimum wage and below the living wage.
  9. 9. alamazfar590@gmail.com

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