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Recent outrage erupted after a multinational company advertised a position with a meager annual salary of Rs 2.5 lakh, igniting concerns about stagnant entry-level wages while executive pay continues to rise. Critics argue that such a salary is insufficient to sustain a living in metropolitan areas, especially when entry-level wages have remained largely unchanged for over two decades. Given the increasing cost of living, is it time to introduce a minimum wage floor for corporate jobs? Tell us in the comments below. #minimumwage #fairpay #corporatejobs #wagegap #Congnizent [minimum wage, corporate workforce, employee compensation, India]

🌟 India Set to Implement Living Wage System by 2025! 🌟 India is set to replace its minimum wage system with a living wage system by 2025 with technical assistance from the International Labour Organization. This shift from minimum wages to living ages aims to enhance the well-being of millions of workers, especially those within the expansive informal sector, which comprises a staggering labor force of 500 million workers, with 90% in the unorganised sector. Read more here -https://lnkd.in/dz4k8TpT #Livingwages #ResponsibleBusiness #India

Indian Govt. increases minimum wage rates for workers 💸 𝗧𝗵𝗲 𝗻𝗲𝘄 𝘄𝗮𝗴𝗲 𝗿𝗮𝘁𝗲𝘀 𝘄𝗶𝗹𝗹 𝘁𝗮𝗸𝗲 𝗲𝗳𝗳𝗲𝗰𝘁 𝗳𝗿𝗼𝗺 𝗢𝗰𝘁 1, 2024. → Skilled: Rs 24,804 per month. → Unskilled: Rs 20,358 per month. → Semi-skilled: Rs 22,568 per month. And this is likely higher than the starting salaries for IT engineers at some multinational companies in India. Kudos! ______________________________________________ #EconomicGrowth #EmployeeRights #JobMarket #IndiaUpdates

I recently curated a video talking about the ills of Minimum wage laws (Link in comments). The reasons are not my own and are taken from Friedman's ideas. I will make two further points in this regards: i) It is in the direct interest of brands like McDonalds and Ikea to support any minimum wage laws because it prevents their major competitors (small businesses) from offering products at cheap. So any praise of minimum wage laws from these large scale brands should be taken with a lot of scrutiny. (ii) If governments are able to extract that much productive work from the workers, then certainly they must pay them as much as possible. Otherwise if its a negative game, other ways would be increasing taxes, diverting expenses or printing money. I would consider diverting expenses to be the best option, as compared to increasing taxes (aggravate the small section of taxpayers) or printing money (will cause inflation hurting the same workers more). In my opinion, while the objective is noteworthy and we should all aspire to good living conditions, creating more opportunities for such workers will trump over legislating laws that force employers to pay. #minimumwage #economics #government #friedman

India plans to shift from minimum wage to living wage by 2025 India is preparing to replace the minimum wage with living wage by 2025 and has sought technical assistance from the International Labour Organization (ILO) to create a framework for estimating and operationalising these. The Indian government is considering a mandatory national minimum wage hike, potentially impacting 500 million workers. The move comes as the current floor wage (Rs 176/day, set in 2017) is seen as inadequate due to rising living costs and inflation. The new wage, if implemented, would be mandatory across states and could arrive before the upcoming April-May general elections. Experts are balancing affordability for employers with the need to address workers' concerns. #indiangovernment #2024 #internationallabourorganisation #Bharat #centralgovernment #pmmodiji #csvasudevaraodevaki

Title: "Delhi's New Minimum Wage Structure: A Boost for Workers Across All Sectors!" Delhi's Government has announced a significant update to minimum wages across various employment categories, effective from October 1, 2024. This revision reflects the commitment to ensure fair pay and meet the rising cost of living in the city. Here’s a quick look at the updated wage structure: Unskilled Workers: ₹18,066 per month Semi-Skilled Workers: ₹19,929 per month Skilled Workers: ₹21,917 per month Clerical/Supervisory (Non-Matriculate): ₹19,929 per month Clerical/Supervisory (Matriculate): ₹21,927 per month Clerical/Supervisory (Graduate): ₹23,836 per month These new rates are aimed at helping workers across sectors maintain a decent standard of living by keeping wages aligned with inflation and economic demands. A big step toward promoting financial security for Delhi's workforce! Check out the visual comparison below to see how the wage categories stack up. #MinimumWages #Delhi #LaborLaws #EmployeeRights #FinancialSecurity #WageRevision

Salary Hike: How much will be the #increment of #employees this #year and next year – #Top #News #Bulletin economy Amid the positive business outlook across various sectors, salaries in India are expected to rise by 9.5 percent in the next calendar year. This possibility has been expressed in a survey report. According to global professional services firm Aon PLC's '30th https://lnkd.in/dUe9kcVC #averagesalaryincrease #DAHike #hike #Howmuchwillbetheincrementthisyear #increaseinbankingsector #increaseinthissector #salaryhike #salaryhikepercentage #salaryincrease #Salaryincrement

The typical IT recruitment happens in two cycles- Famines(no or low recruitment) due to some Global or Local or Industry or Company level crisis or Floods (Hire anyone who even remotely meets the criteria) when clients and Project Managers are shouting from rooftops ‘Give me More’! The examples of Famine were seen in 2008 and even in recent years and examples of Flood were on display during Pandemic and post Pandemic periods! The key question is which situation one is taking about As regards the intake of Freshers the reality is they have stagnated at Rs 2.5 Lakhs for decades! It looks ghastly and dehumanizing in comparison with the CEO salaries which have multiplied several folds and several Crores, besides lifestyle supports like private jets not reported as part of their Executive package and salaries Whilst Regulatory intervention is certainly an option but Market forces seem to have a bigger impact! Long term answer is upgrading the Skill Sets, with Academic Institutions, Industry and Companies taking responsibility! In the short term naming and shaming by Collectives, Media and powerful Social Media with Students and young professionals making it impossible to sustain this rampant abuse exploitation by these ‘Sweat Shops’!

The introduction of new Labour Codes in India, particularly the Wage Code of 2019, aims to streamline and standardize definitions across various labor laws. A key change revolves around the definition of 'wages,' impacting how employers structure compensation and comply with regulations. While the code provides clarity on inclusions and exclusions, ambiguities persist, posing challenges for interpretation and implementation. Dr PV Ramana Murthy, Head, Labour & Employment & Retika Yadav, Senior Associate, Economic Laws Practice (ELP) in this article "𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗳 𝘁𝗵𝗲 𝗡𝗲𝘄 ‘𝗪𝗮𝗴𝗲’ 𝗗𝗲𝗳𝗶𝗻𝗶𝘁𝗶𝗼𝗻 𝗶𝗻 𝘁𝗵𝗲 𝗟𝗮𝗯𝗼𝘂𝗿 𝗖𝗼𝗱𝗲𝘀: 𝗖𝗵𝗮𝗻𝗴𝗲𝘀, 𝗔𝗺𝗯𝗶𝗴𝘂𝗶𝘁𝗶𝗲𝘀, 𝗮𝗻𝗱 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗠𝗲𝗮𝘀𝘂𝗿𝗲𝘀" highlights the complexities surrounding the definition of 'wages' under the new codes, discussing inconsistencies, exclusions, and the need for clarity published on Mondaq. It also offers recommendations for employers to navigate these changes effectively, emphasizing the importance of collaboration with legal and HR experts to ensure compliance and optimize wage structures. Tune into the article here: https://lnkd.in/dzgjrKJS #ELPinsights #labourcode #wage #employee #compliance #compensation #india

Read the 15th issue of our Substack on state-level regulations. India currently has more than 1,900 wage rates. Researchers, Bhuvana Anand, Suyog Dandekar, and Shubho Roy unpack the country's complicated wage structure in this issue. Read the full piece to learn more: https://lnkd.in/gS4HD47H Read the previous issues: https://lnkd.in/dKg7hhKt #regulation #Prosperiti