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Business Environment and Law-Minimum Wages Act, 1948

Introduction and Definition of Minimum Wages Act, 1948

   Posted On :  15.05.2018 03:50 am

The Minimum Wages Act of 1948 is not only a measure of social security for the poverty stricken workers, but it is also a device for improving the standard of living of the downtrodden and thereby paving the way for their betterment and ultimate welfare.

Introduction
 
 
The Minimum Wages Act of 1948 is not only a measure of social security for the poverty stricken workers, but it is also a device for improving the standard of living of the downtrodden and thereby paving the way for their betterment and ultimate welfare.
 
The continuing tendency among the employer is only to exploit the labourers who happen to be illiterates and who never possessed the necessary prowess to fight against the ingenuity of the employers.
 
The Minimum Wages Act
 
 
1. Assures wages so as to help the workers to eke out their livelihood, at least to an extent of sustaining the adversities, namely, rise in the cost of living.
 
2. Prevents the employers from exploiting the labourers by paying wages far below their needs; and
 
3. Lays down principles for fixation of wages on a need based scale.
 
 
Definition
 
 
Though Minimum Wages has not been defined anywhere in the Minimum Wages Act, it can be defined generally. In common sense, minimum wages is the bare subsistence money required by the worker not only to meet the basic needs such as food, shelter and clothing but it is also includes moneys required for medical expenses, education for children and traveling expenses to a worker in a family. Family consists of husband, wife, and two children.

 

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