HR Glossary

Minimum Wage

Mr. Higgin defined the concept of the minimum wage as the lowest wage amount paid to an unskilled worker who is a human living in a civilised society. The minimum wage in India till 2018 was Rs. 375/day which also meant that every unskilled labor should at least get Rs. 9750/ month. Minimum wage should be such that the worker is able to fulfil his basic necessities adequately. Laws and acts have been made to ensure the payment of minimum wage so that no employee is exploited, poverty is reduced, and the standard of living also improves. Critics consider this economically taxing for business.