- Advertisement -
Home Personal Finance What is Living Wage that can replace minimum wage? Read full details

What is Living Wage that can replace minimum wage? Read full details

0
What is Living Wage that can replace minimum wage? Read full details

To improve the condition of workers, the government is now planning to bring Living Wage in place of Minimum Wage. The government may make changes in this soon. The government is considering technical assistance from the International Labor Organization for the Living Wage. Living wage is also the basic salary of the employee which will be given to him to meet his basic needs.

At present, the workers get minimum wage i.e. minimum salary by the government. However, many companies take several measures to avoid minimum salary. In such a situation, the government is going to take important steps to improve the minimum wage law.

To help the employees, the government is soon thinking of introducing Living Wage system in place of minimum wage . According to the report, the government is taking assistance from the International Labor Organization (ILO) for living wage.

Living Wage System may be implemented in India by next year i.e. 2025.

About 90 percent of the workers in India work in the unorganized sector. Many of these employees do not get minimum wage. In such a situation, living wage system is being introduced to ensure that everyone gets minimum salary.

Let us know what is Living Wage and how different is it from Minimum Wage System?

What is minimum wage system

At present minimum wage system is in force. In this, hourly salary is calculated. If we understand it in simple words then the focus is on food, clothing and shelter. The minimum wage is different in all states of India. Let us tell you that in Maharashtra this employee gets Rs 62.87 per hour and in Bihar it is Rs 49.37.

Whereas in America, an employee gets $7.25 per hour i.e. about Rs 605.26.

Many employees of the unorganized sector in the country do not even get the minimum wage. No strict action is taken by the government on these sectors.

What is living wage system

The Living Wage System goes beyond bread-cloth-house. The living wage exceeds the basic needs of the government employee. The Living Wage system also takes care of the means of social security for the employee and his family. This means that in the living wage system, more than the basic needs of the employee like health, education etc. are also taken care of.

Also Read-

- Advertisement -DISCLAIMER
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com

NO COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exit mobile version