GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An award is
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A form of incentive for employees
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Performance related pay
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Minimum wages and conditions for employees
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Minimum wages and conditions for employees in an industry
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Explanation:
Detailed explanation-1: -1996: Government fixed the national minimum wage floor at INR 35/day as per the recommendations of NCRL. Since 2009 it stands at INR 100/day.
Detailed explanation-2: -There are three kinds of wages minimum wage, fair wage & living wage. At the bottom of the ladder there is the minimum basic wage which the employer of any industrial labour must pay in order to be allowed to continue in industry.
Detailed explanation-3: -The Minimum Wages Act was passed in the year 1948. This law ensured that each worker was given a minimum wage. It minimised the exploitation of workers to an extent.
There is 1 question to complete.