MEANING AND OBJECTIVE OF MINIMUM WAGES

 

MEANING AND OBJECTIVE OF MINIMUM WAGES


Minimum Wages means the minimum payment to a worker so that he may be able in providing for basic needs for himself and his family members and to maintain his working efficiency only. Some other scholars are of the view that minimum wages should also provide for minimum education, medical facilities and other amenities.   According to them, minimum wages should ensure a minimum standard of living considering the health, efficiency and well-being of the worker.


"Minimum Wages should provide not only for the bare necessities of the worker. It should also provide for the maintenance of the efficiency of the worker. From this point of view, minimum wages must be sufficient to provide for all requirements of education, health and other essential "amenities". 

Fair Wages Committee,



OBJECTIVE OF MINIMUM WAGES



Important objectives of Minimum Wages are the workers do not get fair wages. particularly in the industries where-

1. To maintain the efficiency of workers.
2. To check the exploitation of workers by entrepreneurs.
3. To discourage strikes, lock-outs and industrial disturbances so that industrial peace may be maintained.
4. To increase the efficiency of workers.
5. To protect the interests of workers, particularly when the workers are not organised.
6. To check the unhealthy competition among entrepreneurs.
7. To check the unhealthy competition among the workers.
8. To improve the management system.
9. To strengthen labour unions.
10. To help the workers in maintaining and increasing their standard of living.
11. To provide economic and social justice to the workers.
12. To increase the productivity of workers.


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