Write short notes on the following under the Minimum Wages Act, 1948. a) Objective of the Act. b) Fixation and Revision of Minimum Wages.

Objective of the Minimum Wages Act, 1948:

The Minimum Wages Act, 1948, is a social welfare legislation enacted by the Government of India with the primary objective of safeguarding the interests of workers by ensuring that they receive remuneration that is fair and adequate to maintain a decent standard of living. The key objectives of the act are as follows:

1. Protection of Workers: The act aims to protect the interests of workers, particularly those engaged in unorganized sectors and vulnerable employment conditions, by establishing minimum wage standards. It seeks to prevent the exploitation of labor and ensure that workers receive wages that are sufficient to meet their basic needs.

2. Poverty Alleviation: By setting and enforcing minimum wage rates, the act contributes to poverty alleviation efforts by improving the economic well-being of workers and their families. Adequate wages enable workers to afford essential goods and services, thereby reducing their vulnerability to poverty and improving their quality of life.

3. Promotion of Social Justice: The act embodies principles of social justice and equity by promoting the principle of 'equal pay for equal work' and addressing wage disparities based on factors such as gender, occupation, or location. It aims to reduce income inequality and promote a more equitable distribution of wealth and opportunities within society.

4. Prevention of Exploitation: One of the primary objectives of the act is to prevent the exploitation of labor by employers who may seek to pay wages below subsistence levels or engage in unfair labor practices. By establishing a legal framework for minimum wages, the act helps to curb exploitative employment relationships and ensure that workers are fairly compensated for their labor.

5. Facilitation of Industrial Peace: Ensuring fair and adequate wages is essential for maintaining industrial peace and harmony. The act aims to minimize labor disputes and strikes arising from grievances related to low wages or unfair compensation practices. By providing a mechanism for the fixation and revision of minimum wages, it contributes to a more stable and conducive labor environment.

Fixation and Revision of Minimum Wages:

The Minimum Wages Act, 1948, provides for the fixation and periodic revision of minimum wages by appropriate authorities designated by the government. The process of fixation and revision involves the following key steps:

1. Constitution of Minimum Wage Advisory Boards: The government appoints Minimum Wage Advisory Boards at the central and state levels, comprising representatives from employers, workers, and independent experts. These boards are responsible for advising the government on matters related to minimum wages, including the fixation and revision of wage rates.

2. Factors Considered for Fixation: When fixing or revising minimum wages, the advisory boards consider various factors, including the nature of work, skill levels, prevailing economic conditions, cost of living, and socio-economic factors affecting workers' well-being. The objective is to ensure that the minimum wage rates set are fair and adequate to meet the basic needs of workers and their families.

3. Notification of Minimum Wage Rates: Once the minimum wage rates are determined, they are notified by the appropriate government authority through official gazette notifications. These rates are legally binding on employers in the respective industries or sectors covered by the act.

4. Periodic Review and Revision: The act mandates periodic review and revision of minimum wages to account for changes in economic conditions, cost of living, and other relevant factors. The advisory boards periodically assess the adequacy of existing wage rates and recommend revisions as necessary to maintain parity with prevailing standards of living.

5. Enforcement and Compliance: The government is responsible for enforcing compliance with minimum wage laws through labor inspectors and other regulatory mechanisms. Employers found to be in violation of minimum wage requirements may face penalties, fines, or other legal consequences.

Overall, the fixation and revision of minimum wages under the Minimum Wages Act, 1948, is aimed at ensuring that workers receive wages that are fair, adequate, and commensurate with the value of their labor, thereby promoting social justice, economic welfare, and industrial harmony.