Minimum Wages Ensure Workers Of An Acceptable Standard of Living
Every worker who performs a set of allotted duties in any organization Minimum Wages Rates 2021, whether it be run by private entities, large organizations, or the state, is entitled to a remuneration that compensates him or her for the effort and expertise that they bring to the job. This remuneration has to be fair compensation for the number of hours put in in a standard workday of eight hours and must be enough for his standard of living and that of those who are dependent on him or her. Also, check WG Pay Scale
This has brought about the concept of minimum wages as the minimum amount that an employer must pay a worker for any work performed during a set period, and which can in no case be reduced even if the individual agrees to it, or such agreement is collectively made by a group of workers. This gives the concept of minimum wages a binding nature, regardless of how much wages are arrived at, and in most countries is written into law, and decided by wage boards, councils, labor or industrial courts, or any other competent authority.
Minimum wages are meant to protect workers from pay that is very low and inadequate for their basic living needs. They are also a method of ensuring that all the workers who contribute to the profits of any organization can share in them and be assured of a minimum wage that gives them a minimum living standard and protects them from being exploited. Minimum wages laws and statutes are often used by governments as a way of overcoming poverty and reducing inequalities in society. It has also been used to promote the right of equal remuneration to all those who work, irrespective of their gender so that all work has equal value.
Minimum wages are part of broad policies in government and are designed in such a way that they supplement and add to the effectiveness of all other policies that affect society and prospects for employment. There are always inequalities in income and markets and policies need to be set up that further employment, social transfers of wealth, and create an environment that encourages enterprises to be set up that are sustainable. A minimum wage sets a floor for any collective bargaining that workers often use to set wages above such a floor.
Minimum wages protect all workers who are in employment and always supersede any contractual arrangements. They are set at a level that takes into account the cost of living and can be periodically adjusted to relate correctly to them. They were first set up in the early 1900s when concern was expressed at the working conditions in ‘sweat shops’, where many children and women were employed. The first application of minimum wages was for women and children and was declared by courts to be against the constitution. This led to laws being enacted that made a minimum wage a constitutional right.
The concept of minimum wages became widespread and led to its adoption by many countries after the second world war. This was often applied in different ways in different sectors, with agricultural workers often having the lowest rates. These differences still exist and are also linked often to the skills that the worker has to have to perform certain jobs. Minimum wages are often linked to fair wages for performing certain skills that take into account training and experience and are in most cases higher than the statutorily set minimum wages, and can in no case be lower than them.
A minimum wage has to be a living wage that provides the minimum income that is needed for living in a community, and this can often vary due to geographical locations and other factors. Living wages are those that take the cost of living in areas, where such costs a be often influenced by real estate value, cost of transportation, and other factors. Efforts are always made to see that minimum wages are always living wages, and many employers make such adjustments so that they are assured of a workforce in the required numbers.
Minimum wages are also being decided for hourly work that is of help to many businesses that need to employ workers depending on the need for them in particular situations.