GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Political
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Economic
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Social
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Competition
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Detailed explanation-1: –The expression ‘ordinary rate of wages’ means the basic wage plus such allowance including the cash equivalent of the advantages accruing through the concessional sale to the person employed of foodgrains and other articles as the person employed is for the time being entitled to but does not include a bonus.]
Detailed explanation-2: -Rates. From 1 April 2016, the government introduced a new mandatory national living wage ( NLW ) for workers aged 25 and above, initially set at £7.20-a rise of 50p relative to the current National Minimum Wage ( NMW ) rate. That’s a £910 per annum increase in earnings for a full-time worker on the current NMW .
Detailed explanation-3: -Tabled in 2015, and officially introduced in 2016, the National Living Wage is a wage scheme designed to be higher than the minimum wage. It applies to all those aged 23 and up who are not in the first year of an apprenticeship. From 1 April 2023, the National Living Wage rate will become £10.42 per hour.