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In August 2019, the Code on Wages was enacted. This new legislation replaces the Minimum Wages Act, as well as other wage-related laws, such as Payment of Wages Act, 1936; Minimum Wages Act, 1948; Payment of Bonus Act, 1965; and Equal Remuneration Act, 1976. Difference between Previous ...
The expression 'ordinary rate of wages' means the basic wage plus allowances including the cash equivalent of the advantages. The advantages can be in the form of giving concessions to the worker for purchasing food grains and other essentials. However, it does not include a bonus. Notice List...
Base Compensationmeans the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one (1) day prior to the Change of Control; and (ii) the average of the Incentive Bonus paid (or payable) for the...
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rates of wages" refers to the basic wage plus any allowances, such as the cash equivalent of benefits arising from the concessional sale of food grains and other articles to the person employed, as the person employed is for the time being entitled to, but does not include a bonus. ...