The Minimum Wages Act, 1948 aims to provide minimum wages to workers in scheduled employments to prevent exploitation. It defines key terms like wages and minimum wages. The national floor level of minimum wage is Rs. 115 per day. Minimum wages are determined by state governments based on factors like food, clothing and housing costs. The Act establishes procedures for fixing and revising minimum wages and sets up advisory boards at central and state levels. It also provides safeguards for payment of minimum wages and sets out the powers of inspectors to enforce the Act.