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The minimum wages will be revised and reviewed by the central or state governments at an interval of not more than five years. This will be based on time, or number of pieces produced.
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Minimum wages will be notified by the central or state governments.
#Subsume means code#
Fixing the minimum wage: The Code prohibits employers from paying wages less than the minimum wages.In case the existing minimum wages fixed by the central or state governments are higher than the floor wage, they cannot reduce the minimum wages. The minimum wages decided by the central or state governments must be higher than the floor wage.Before fixing the floor wage, the central government may obtain the advice of the Central Advisory Board and may consult with state governments. Further, it may set different floor wages for different geographical areas. Floor wage: According to the Code, the central government will fix a floor wage, taking into account living standards of workers.This does not include bonus payable to employees or any travelling allowance, among others. Wages include salary, allowance, or any other component expressed in monetary terms.State governments will make decisions for all other employments. The central government will make wage-related decisions for employments such as railways, mines, and oil fields, among others. Coverage: The Code will apply to all employees.The Code replaces the following four laws: (i) the Payment of Wages Act, 1936, (ii) the Minimum Wages Act, 1948, (iii) the Payment of Bonus Act, 1965, and (iv) the Equal Remuneration Act, 1976. It seeks to regulate wage and bonus payments in all employments where any industry, trade, business, or manufacture is carried out. The Code on Wages, 2019 was introduced in Lok Sabha by the Minister of Labour, Mr.