WORLD HISTORY

Detailed explanation-1: -No wage-period shall exceed one month. That means wage can be paid on daily, weekly, fortnightly (for every 15 days) and monthly only. Wage period for payment of wages to employees by employer should not exceed 30days i.e. one month according to this act.

Detailed explanation-2: -There are two procedures for fixing and revising the minimum wages. The two procedures are the appointment of a committee and publication of proposals in the official gazette. The employer maintains the registers and records of the minimum wages to be paid to the employee.

Detailed explanation-3: -By centralising or co-ordinating negotiations over wages and working conditions, collective bargaining has a tendency to compress pay differences among workers. As a result, it weakens the link between individual performance, wages and working conditions.

Detailed explanation-4: -there is private ownership of means of production. production takes place for selling the output in the market. there is sale and purchase of labour services at a price which is called the wage rate (the labour which is sold and purchased against wages is referred to as wage labour.