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.

http://rpms.dacnet.nic.in/Bulletin.aspx

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

http://rpms.dacnet.nic.in/QueryReport.aspx

 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/- .

Please click here for Prices of Food items as on 1/1/15

Please click here for Prices of Non Food items as on 1/1/15 

Please click  here for Minimum Wage Caluation Sheet 

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