2) Inter-State Migrant Workmen( Regulation Of Employment & conditions Of Service ) Act, 1979
3) The Equal Remuneration Act, 1976
4) The Payment Of Gratuity Act, 1972
5) The Contract Labour (Regulation & Abolition) Act, 1970
6) The Payment Of Bonus Act, 1965
7) The Apprentices Act, 1961
8) The Employment Exchanges(Compulsory Notification Of Vacancies) Act, 1959
9) The Employees Provident Fund & Miscellaneous Provisions Act, 1952
10) The Factories Act, 1948
11) The Minimum Wages Act, 1948
12) The Employees’ State Insurance Act, 1948
13) The Industrial Disputes Act, 1946
14) The Industrial Employment Standing Orders Act, 1946
15) The Payment Of Wages Act, 1936
16) The Trade Unions Act, 1926
17) The Workmen’s Compensation Act, 1923
Minimum Wages Act, 1948
The Minimum wages Act fixes the minimum wages rates in any Indian company, where both the Provincial Governments and the Central Government determine these rates. The minimum wage rates get declared at the occupational, sectoral, state, and national levels. These wages may get established for any sector, occupation, or region. The cost of living determines the minimum wage. The minimum wages may get set for different scheduled employment or various work classes of the same scheduled employment. Frequency of the salaries ranges from monthly, hourly, or daily. The State Governments and Central Government notifies the scheduled employment about the revision of minimum wage rates.
The two methods for fixing or revising minimum wages are:
1) Committee method
In this method, the government changes minimum wages after setting up committees and subcommittees for holding recommendations and inquiries.
2) Notification method
In this method, the Official Gazette publishes proposals of the government regarding people who are likely to be affected by changes in minimum wages. The recommendations get taken into consideration at a specified date.
The government fixes or revises the minimum wage of particular scheduled employment after taking the advice of all the representations and committees into account. The final decision gets implemented after 3 months from the date of its declaration.
Benefits of Statutory Compliance in HR for a Company
A company will save itself from the majority of serious legal troubles if it is statutorily compliant. This will also lead to the sustained growth of the company, as when the employees get treated well, they work with more ownership. The following are some of the benefits of statutory
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