Code on Wages definitions clarify wages, employee, contractor, contract labour and computation of wages for entitlement. Section 2 defines wages as monetary remuneration for employment, including basic pay, dearness allowance and retaining allowance, while specifying ... Summary
Code on Wages definitions clarify wages, employee, contractor, contract labour and computation of wages for entitlement.
Section 2 defines wages as monetary remuneration for employment, including basic pay, dearness allowance and retaining allowance, while specifying exclusions (bonuses, employer pension/provident contributions, conveyance, house rent allowance, gratuity, retrenchment compensation, overtime, commissions, and remuneration under awards or settlements). It provides provisos requiring addition of excluded payments exceeding a notified percentage to wages and treating certain emoluments as part of wage computation for equal pay and payment purposes; in kind remuneration up to 15% of total wages is deemed wages.
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