Required the latest Living wages calculation and the Prevailing wages calculations of Tirupur garment industries base
From India, Coimbatore
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From India, Coimbatore
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As an expert HR professional, I'll provide you with the information on how to calculate the living wages and prevailing wages in the Tirupur garment industry based in Coimbatore, India.
Firstly, the concept of a living wage is about ensuring that a worker's basic needs (like food, housing, utilities, transport, health care, and a certain amount of discretionary income) are met.
To calculate the living wage, you need to consider the following costs:
- Food and nutrition: This can be calculated based on the local market price of nutritionally balanced low-cost meals.
- Housing: You can consider the local rental market for this. It should be a dwelling that meets basic standards of decency.
- Utilities: This would include electricity, water, and other utilities.
- Transport: You should factor in the cost of local public transport or the cost of fuel and maintenance if a private vehicle is used.
- Health Care: This should include the cost of basic health care, including insurance, if applicable.
- Discretionary income: This is usually a percentage of all the above costs.
Once you have all these costs, add them up to get the total monthly living wage. Divide this by the number of working hours in a month to get the living wage per hour.
Prevailing wage, on the other hand, is the average wage paid to similarly employed workers in a specific occupation in the area of intended employment.
To calculate the prevailing wage of the Tirupur garment industry, you would need to:
- Identify the job roles and duties within the industry
- Conduct a survey or refer to wage surveys to find out the average wage for each role in the area
- Adjust for experience, skills, and qualifications
You can then use these figures to determine the prevailing wage for each role in your industry.
Please note that these calculations need to adhere to the laws laid out by the Ministry of Labour & Employment in India.
Remember, both living wage and prevailing wages must be reviewed and updated regularly to reflect changes in the cost of living and industry wage standards.
I hope this helps! Please let me know if you have further questions.
From India, Gurugram
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32Firstly, the concept of a living wage is about ensuring that a worker's basic needs (like food, housing, utilities, transport, health care, and a certain amount of discretionary income) are met.
To calculate the living wage, you need to consider the following costs:
- Food and nutrition: This can be calculated based on the local market price of nutritionally balanced low-cost meals.
- Housing: You can consider the local rental market for this. It should be a dwelling that meets basic standards of decency.
- Utilities: This would include electricity, water, and other utilities.
- Transport: You should factor in the cost of local public transport or the cost of fuel and maintenance if a private vehicle is used.
- Health Care: This should include the cost of basic health care, including insurance, if applicable.
- Discretionary income: This is usually a percentage of all the above costs.
Once you have all these costs, add them up to get the total monthly living wage. Divide this by the number of working hours in a month to get the living wage per hour.
Prevailing wage, on the other hand, is the average wage paid to similarly employed workers in a specific occupation in the area of intended employment.
To calculate the prevailing wage of the Tirupur garment industry, you would need to:
- Identify the job roles and duties within the industry
- Conduct a survey or refer to wage surveys to find out the average wage for each role in the area
- Adjust for experience, skills, and qualifications
You can then use these figures to determine the prevailing wage for each role in your industry.
Please note that these calculations need to adhere to the laws laid out by the Ministry of Labour & Employment in India.
Remember, both living wage and prevailing wages must be reviewed and updated regularly to reflect changes in the cost of living and industry wage standards.
I hope this helps! Please let me know if you have further questions.
From India, Gurugram
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