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(b) provide for a day of rest in every period of seven days which shall be allowed to all employees or to any specified class of employees and for the payment of remuneration in respect of such days of rest; (c) provide for payment for work on a day of rest at a rate not less than the overtime rate.

(Read Thomas Malthus's 1824 Britannica essay on population.) The wage-fund theory held that wages depended on the relative amounts of capital available for the payment of workers and the size of the labour force. Wages increase only with an increase in capital or a decrease in the number of workers.

As previously stated, base pay is the hourly rate or salary that an employee earns before any additional payments are added. On the other hand, gross pay includes base earnings plus overtime pay (if applicable), commissions, bonuses, tips, etc.

What is the definition of Wages under the Payment of Wages Act, 1936? Answer: ing to the Act, the definition of Wages is as follows: 'Wages include all remunerations which are expressed in terms of money or are capable of being so expressed. Further, these are either by the way of salary allowances or otherwise.

Maharashtra Minimum Wages effective from Date: 1st July, 2022 - 2023 Class of EmploymentZoneBasic Per MonthSemi-skilledZone I10856.00Semi-skilledZone II10260.00Semi-skilledZone III9664.00SkilledZone I11632.0025 more rows

Pay structure in India generally consists of the following components. 1- Basic wage/salary 2-Dearness allowance (D.A.) and other allowances. 3- Bonus and other incentives. 4- Fringe benefits or perquisites.