Arrange the following in order of their amount in an ascending order : a. Living Wage b. Subsistence Wage c. Fair Wage d. Minimum Wage
From India, Ghaziabad
2From India, Ghaziabad
Which of the following cannot be regarded as a method of State Regulation of Wages ? (A) Wage Boards (B) A Statutory Minimum Wage (C) Adjudication and arbitration awards (D) Collective Bargaining
From India, Ghaziabad
From India, Ghaziabad
Dear anonymous,
Pl refer to Art.43 of the Constitution of India which mandates that the State shall endeavour to secure, by suitable legislation or economic organisation or in any other way, to all workers, agricultural,industrial or otherwise, work, a living wage,conditions of work ensuring a decent standard of life and full enjoyment of leisure and social and cultural opportunities.So, at the top is the living wage followed by fair wage and minimum wage which could be otherwise called as subsistence level wage.But these terms elude precise definition because of the variance in the very parameters being taken into account.Therefore, applying the theory of approximation, we can say that if a workman on whose wages his family comprising of his wife and two children is dependent is able to feed his family, meet out the expenses of the wards' education and health care, comfortably discharge other social obligations and meet out the expenses relating to enjoyment of leisure with his family, still capable of saving some money for the evening of his life, he is said to have living wages as in the U.S.A and other developed countries.Something short of these, but sufficient enough to lead a comfortable life according to the existing living standards and just enough to meet some unforeseen contingencies, he is said to have fair wages. On the contrary, if his wages are just enough to keep his family fed and retain his efficiency to work, what he gets can be defined as minimum wage or subsistence level wage.
From India, Salem
Pl refer to Art.43 of the Constitution of India which mandates that the State shall endeavour to secure, by suitable legislation or economic organisation or in any other way, to all workers, agricultural,industrial or otherwise, work, a living wage,conditions of work ensuring a decent standard of life and full enjoyment of leisure and social and cultural opportunities.So, at the top is the living wage followed by fair wage and minimum wage which could be otherwise called as subsistence level wage.But these terms elude precise definition because of the variance in the very parameters being taken into account.Therefore, applying the theory of approximation, we can say that if a workman on whose wages his family comprising of his wife and two children is dependent is able to feed his family, meet out the expenses of the wards' education and health care, comfortably discharge other social obligations and meet out the expenses relating to enjoyment of leisure with his family, still capable of saving some money for the evening of his life, he is said to have living wages as in the U.S.A and other developed countries.Something short of these, but sufficient enough to lead a comfortable life according to the existing living standards and just enough to meet some unforeseen contingencies, he is said to have fair wages. On the contrary, if his wages are just enough to keep his family fed and retain his efficiency to work, what he gets can be defined as minimum wage or subsistence level wage.
From India, Salem
Dear Sir,
Thanks for your answer. as i understand the ascending order is Living wages, fair wages, minimum wages and last is subsistence wages. But as i am preparing through NET question paper. They have not given the same answer. a,c,d,b
Please correct me.
Thanks
Priti Madnawat.
Arrange the following in order of
their amount in an ascending order :
a. Living Wage
b. Subsistence Wage
c. Fair Wage
d. Minimum Wage
Codes :
(A) b, c, d, a (B) c, d, b, a
(C) b, d, c, a (D) d, a, c, b
From India, Ghaziabad
Thanks for your answer. as i understand the ascending order is Living wages, fair wages, minimum wages and last is subsistence wages. But as i am preparing through NET question paper. They have not given the same answer. a,c,d,b
Please correct me.
Thanks
Priti Madnawat.
Arrange the following in order of
their amount in an ascending order :
a. Living Wage
b. Subsistence Wage
c. Fair Wage
d. Minimum Wage
Codes :
(A) b, c, d, a (B) c, d, b, a
(C) b, d, c, a (D) d, a, c, b
From India, Ghaziabad
Dear Preethi, If I were correct your answer is in the descending order; Ascending Order refers to the sequential move from the lowest to the highest. Therefore,
Option C is the correct answer - (b) Subsistence Wage (d) MinimumWage (c) Fair Wage (a) Living Wage. In actual practice the standards of subsistence are taken into a/c for the determination of minimum wage. That's why non-payment of minimum wages is a punishable offence with imprisonment u/s 12 of the Minimum Wages Act1948.
Regarding your second question, option (D) Collective Bargaining is not a State-regulated method of Wage Fixation and Revision.
From India, Salem
Option C is the correct answer - (b) Subsistence Wage (d) MinimumWage (c) Fair Wage (a) Living Wage. In actual practice the standards of subsistence are taken into a/c for the determination of minimum wage. That's why non-payment of minimum wages is a punishable offence with imprisonment u/s 12 of the Minimum Wages Act1948.
Regarding your second question, option (D) Collective Bargaining is not a State-regulated method of Wage Fixation and Revision.
From India, Salem
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Delhi - Minimum Wages w.e.f. 01.10.2012 (1).pdf
Minimum Wages in Maharashtra for the period January 2018 to June 2018.xls