1. A presentAtion on……WAges
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By:AZFAR ALAM

2. WAGES alamazfar590@gmail.com
A wage is a compensation, usually financial, received by
workers in exchange for their labor.

3. TYPES OF WAGES
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1.Minimum wages.
2.living wages.
3.fair wages.

4. MINIMUM WAGES
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 The minimum amount of compensation an employee must
receive for performing labor.
These are fixed by state governments with regard to
industries and the employer has to pay at least this much
of wages (generally @ per day).
These are generally revised every two / five years based
on recommendations of a wage board (different for
different industry) for this purpose .

5. objective… alamazfar590@gmail.com
• To provide minimum wages to the workers working in
organized sector.
To stop exploitation of the workers .
To empower the government to take steps for fixing
minimum wages and to revise this wages every two years.

6. LIVING WAGES
A theoretical wage level that allows the earner to afford
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adequate shelter, food and the other necessities of life.
A living wage is a wage which is based upon the cost of living
in an area, rather than an arbitrary minimum.
Under an ideal living wage, someone who works an ordinary
40 hour per week job would be able to afford shelter, food,
health care, and other basic necessities of life.
The amount of a living wage could potentially vary quite a bit,
as standards of living are different in different parts of the
world, and the overall cost of living is also subject to extreme
fluctuation

7. FAIR WAGES
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Fair Wage is a mandatory minimum wage set at rates which are
very similar to those paid to unionized labour doing the task in
question.
Fair wages is an adjustable step that moves up according to the
capacity of the industry to pay, and the prevailing rates of wages in
the area of industry.

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objectives….
The Fair Wages Committee in this connection observed :
the objective is not merely to determine wages which are
fair in the abstract, but to see that employment at existing
levels is not only maintained, but if possible,
increased. From this point of view, it will be clear that the
levels of the wages should enable the industry to maintain
production with efficiency. The capacity of industry to
pay should, therefore, be assessed by the Wage Boards in
the light of this very important consideration.
The Fair Wage Committee appointed by the Government
of India, as stated earlier, drew a distinction between a
minimum and a living wage and observed that the
minimum wage is less than the living wage. With regard to
the fair wage, the Committee recommended that it
should be above the minimum wage and below the living
wage.

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