What are the machineries for wage fixation?

What are the machineries for wage fixation?

The minimum wages can be fixed by hour, day, month or such other longer period. The Act provides for setting up of a tripartite machinery (consisting of representatives of employers, unions and the government) to advise the appropriate Government in the fixation and revision of minimum wage rats.

Which are the methods of wage fixation in India?

Wage Fixation

• Collective bargaining.
• Industrial wage boards.
• Government appointed pay commissions.
• Adjudication by courts and tribunals.

What is wage regulation machinery?

The Act aims to prevent sweating or exploitation of labour. The Act also requires the appropriate government (both at Centre and States) to fix minimum rates of wages in respect of employments specified in the schedule and also review and revise the same at intervals not exceeding five years.

Which method is used for fixation of minimum wages?

In the Minimum Wages Act, 1948 the minimum wages are fixed or revised via two methods as follows: Committee Method: A committee or a Sub-Committee is set up to give advice or make an enquiry. Notification Method: The government body responsible for it publishes the proposal and an official date in the Official Gazette.

What is meant by wage fixation?

The fixation of wage structure also includes within its compass the fixation of rates of dearness allowance. It is an additional payment made by the employer to his employees to compensate them to a certain extent for the rise in the cost of living.

What are the methods of state regulation of wages?

The various methods which the government has adopted to regulate wages in India are the following: 1. Prescribing Minimum Rates of Wages 2. Preventing Discrimination in Remuneration on the Ground of Sex 3. Regulating Payment of Wages 4.

What do you mean by wage fixation?

What is wage structure?

Wage structure is the hierarchy within a company that sets the amount each level of employment is paid and what benefits each level is due. Lower-level employees are paid less than other people at the business, and these employees may get an hourly wage as opposed to a set salary.

How minimum wages are fixed in India?

The minimum wages must be revised and reviewed by the central or state governments at an interval of not more than 5 years. While fixing minimum wages, the central or state governments may take into account various factors such as (i) skill of workers, and (ii) arduous nature of work.

How the minimum wages are fixed and revised?

rates of wages fixed by it in respect of any scheduled employment within any interval of five years, nothing contained in this clause shall be deemed to prevent it from reviewing the minimum rates after the expiry of the said period of five years and revising them, if necessary, and until they are so revised the …

What are the types of wage system?

Types of Wages:

• Piece Wages: Piece wages are the wages paid according to the work done by the worker.
• Time Wages: If the labourer is paid for his services according to time, it is called as time wages.
• Cash Wages: ADVERTISEMENTS:
• Wages in Kind:
• Contract Wages: