Thursday, May 7, 2015

Minimum Wage of Rs 26,000/- Justified and Fitment formula

Comrade,

                  The DIRECTORATE OF  CONONMICS & STATISTICS DEPARTMENT OF AGRICULTURE & COOPERATION MINISTRY OF AGRILCULTURE GOVERNMENT OF INDIA NEW DELHI  has published the RETAIL PRICES OF FOOD AND NON FOOD ITEMS VIDE http://rpms.dacnet.nic.in/  PLEASE GO THROUGH THIS IMPORTANT LINK .  which contains district wise price report.


You can get any price of any article using the Query option. 


 The prices  of many items provided by the Staff side JCM  are lower than the retail prices provided by the Government agency  . Hence the Minimum wage of Rs 20,000/- is  justified for the  erstwhile Group "D" with effect from 1/1/15 using Dr Aykroyd  formula . After weightage of 25% for Group "C" it works out to Rs 26,000/- .


The fitment formula  may range from 2.72 times to 3.72 depending upon the weightage.  

The Sixth Central Pay Commission has recommended a minimum wage of Rs 6600/- per month   against the demand of Rs 10,000/-  per month as worked out by Staff side of JCM, Today the minimum need based wage works out to Rs 26,000/ per month. 


Comradely yours

(P.S. Prasad)
General Secretary 
Source: http://karnatakacoc.blogspot.in/2015/05/minimum-wage-and-fitment-formula.html


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