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The four labour codes ? the Code on Wages, Industrial Relations Code, Social Security Code and the Occupational Safety, Health and Working Conditions Code ? are set to replace 29 labour laws.

"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.

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.

The four codes consolidated a complex web of 29 central labour laws. These are the Code on Wages, 2019; the Industrial Relations Code, 2020; the Occupational Safety, Health and Working Conditions Code, 2020; and the Code on Social Security, 2020. They have been both praised and criticised in equal measure.

There are three kinds of wages minimum wage, fair wage & living wage. At the bottom of the ladder there is the minimum basic wage which the employer of any industrial labour must pay in order to be allowed to continue in industry.

(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.

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.