BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: –(1) Every person responsible for the payment of wages under section 3 shall fix periods (in this Act referred to as wage-period) in respect of which such wages shall be payable. (2) No wage-period shall exceed one month.

Detailed explanation-2: -Presently, the provisions of Payment of Wages Act, 1936, which governs the wage settlement timelines is applicable only to workers with wages not exceeding Rs 24, 000 per month.

Detailed explanation-3: -The wages can be paid by the employer on (i) daily, (ii) weekly, (iii) fortnightly, or (iv) monthly basis. The industrial or commercial establishments may be required by notification to pay wages through cheque or by crediting the wages directly in the worker’s bank account.

Detailed explanation-4: -Section 5 – Time of Payment of Wages Any railway, factory or industrial or other establishments upon or in which the total number of employed persons is less than one thousand, must receive his wages before the expiry of the seventh day from the last day of the wage period for which the wages are payable.

Detailed explanation-5: -Fixation of wage-periods According to this statute, the salary period for payment of wages to employees by the employer should not exceed 30 days, or one month. Wages, on the other hand, cannot be paid quarterly, half-yearly, or once a year.