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(h) "wages" means all remuneration, capable of being expressed in terms of. money, which would, if the terms of the contract of employment, express or. implied, were fulfilled, be payable to a person employed in respect of his.

Pay structure in India generally consists of the following components. 1- Basic wage/salary 2-Dearness allowance (D.A.) and other allowances. 3- Bonus and other incentives. 4- Fringe benefits or perquisites.

"Wages" means all remuneration, earnings, allowances, tips and service. charges, however designated or calculated, payable to an employee in respect. of work done or work to be done.

The Code on Wages, notified in August 2019, subsumes the provisions of four laws ? Payment of Wages Act, the Minimum Wages Act, the Payment of Bonus Act, 1965 and the Equal Remuneration Act. It applies to all establishments and to all employees in both organised and unorganised sectors.

What is a Wage? A wage is the remuneration paid to an employee, usually on an hourly, daily, or piece rate basis. Wages are one of the primary expenses of an organization, comprising an especially high proportion of total expenses in service-oriented firms.

In August 2019, the Indian Parliament passed the Code on Wages, 2019. The Code on Wages consolidates and replaces four existing labor laws related to wages, including the Payment of Wages Act, 1936, the Minimum Wages Act, 1948, the Payment of Bonus Act, 1965, and the Equal Remuneration Act, 1976.

4. Fixation of wage-periods. - (1) Every person responsible for the payment of wages under section 3 shall fix periods (in this Act referred to as wage-periods) in respect of which such wages shall be payable. (2) No wage-period shall exceed one month.

No employer shall pay to any employee wages less than the minimum rate of wages notified by the appropriate Government. 6. (1) Subject to the provisions of section 9, the appropriate Government shall fix the minimum rate of wages payable to employees in ance with the provisions of section 8.

1. : a payment usually of money for labor or services usually ing to a contract and on an hourly, daily, or piecework basis. often used in pl. 2. plural : the share of the national product attributable to labor as a factor in production.

What is the definition of Wages under the Payment of Wages Act, 1936? Answer: ing to the Act, the definition of Wages is as follows: 'Wages include all remunerations which are expressed in terms of money or are capable of being so expressed. Further, these are either by the way of salary allowances or otherwise.