IR Executive Question:
What is Wage Under Minimum Wages Act?
Answer:
Wages means all remuneration capable of being expressed in terms of money. It includes house rent allowance but does not include:
☛ Value of house accommodation, supply of light, water, medical attendance
☛ Value of other amenity provided, if excluded by Govt. order
☛ Contribution to pension fund or Provident fund or Insurance
☛ Traveling allowance
☛ Special allowances incurred by the nature of employment
☛ Gratuity payable on discharge.
☛ Value of house accommodation, supply of light, water, medical attendance
☛ Value of other amenity provided, if excluded by Govt. order
☛ Contribution to pension fund or Provident fund or Insurance
☛ Traveling allowance
☛ Special allowances incurred by the nature of employment
☛ Gratuity payable on discharge.
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