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
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2From India, Ghaziabad
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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
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From India, Ghaziabad
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Dear anonymous,
Please refer to Art. 43 of the Constitution of India, which mandates that the State shall endeavor to secure, by suitable legislation or economic organization 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 a fair wage and minimum wage, which could be otherwise called a subsistence level wage. However, these terms elude precise definition because of the variance in the parameters being taken into account.
Therefore, applying the theory of approximation, we can say that if a workman on whose wages his family comprising his wife and two children is dependent is able to feed his family, meet the expenses of the wards' education and healthcare, comfortably discharge other social obligations, and meet the expenses relating to the 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 a minimum wage or subsistence level wage.
From India, Salem
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Please refer to Art. 43 of the Constitution of India, which mandates that the State shall endeavor to secure, by suitable legislation or economic organization 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 a fair wage and minimum wage, which could be otherwise called a subsistence level wage. However, these terms elude precise definition because of the variance in the parameters being taken into account.
Therefore, applying the theory of approximation, we can say that if a workman on whose wages his family comprising his wife and two children is dependent is able to feed his family, meet the expenses of the wards' education and healthcare, comfortably discharge other social obligations, and meet the expenses relating to the 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 a minimum wage or subsistence level wage.
From India, Salem
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Dear Sir,
Thank you for your response. As I understand it, the ascending order is living wages, fair wages, minimum wages, and lastly, subsistence wages. However, as I am preparing for the NET question paper, the answer provided does not match. The correct order should be a, c, d, b. Please correct me if I am wrong.
Thank you,
Priti Madnawat
Arrange the following in order of their amount in 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
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Thank you for your response. As I understand it, the ascending order is living wages, fair wages, minimum wages, and lastly, subsistence wages. However, as I am preparing for the NET question paper, the answer provided does not match. The correct order should be a, c, d, b. Please correct me if I am wrong.
Thank you,
Priti Madnawat
Arrange the following in order of their amount in 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
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Dear Preethi,
If I were correct, your answer is in 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) Minimum Wage, (c) Fair Wage, (a) Living Wage. In actual practice, the standards of subsistence are taken into account for the determination of the minimum wage. That's why non-payment of minimum wages is a punishable offense with imprisonment under Section 12 of the Minimum Wages Act, 1948.
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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If I were correct, your answer is in 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) Minimum Wage, (c) Fair Wage, (a) Living Wage. In actual practice, the standards of subsistence are taken into account for the determination of the minimum wage. That's why non-payment of minimum wages is a punishable offense with imprisonment under Section 12 of the Minimum Wages Act, 1948.
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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