( ISSN 2277 - 9809 (online) ISSN 2348 - 9359 (Print) ) New DOI : 10.32804/IRJMSH

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MINIMUM WAGES - ARE MINIMUM WAGES ENOUGH FOR A DECENT QUALITY OF LIVING?

    2 Author(s):  RAVINDER RAM,PANKAJ YADAV

Vol -  13, Issue- 10 ,         Page(s) : 58 - 67  (2022 ) DOI : https://doi.org/10.32804/IRJMSH

Abstract

The minimum wage is the bottommost wage that is required to sustain lives. Often the minimum wages are not sufficient to provide a decent and stable life to the workers. The sustainability of lives of workers is questionable, whereas a living wage is socially acceptable and provides sufficient income to cover the basic necessities such as adequate food, shelter, child services and healthcare. Code on Wages (2019) ensures a minimum wage to all and defines how the wages will be calculated and prescribes a national floor-wage. However, the minimum wages fall short of incorporating social security and savings required for future contingencies. Thus, forcing the workers, particularly the informal sector workers to better only their present and not their future, making them incapable of ensuring improved future for themselves and their families. There is the need to expand the minimum wages towards living wages and beyond

The Payment of Wages Act, 1936, may be seen at: https://www.ilo.org/dyn/travail/docs/625/Payment%20of%20Wages%20Act%201936.pdf
https://www.ilo.org/wcmsp5/groups/public/---ed_norm/---relconf/documents/meetingdocument/wcms_235287.pdf
Economic Survey (2018-19), Ch: 11; https://www.indiabudget.gov.in/budget2019-20/economicsurvey/index.php

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