Date:14/11/2007 URL: http://www.thehindu.com/2007/11/14/stories/2007111461531700.htm

National

Hike in minimum wages recommended

Special Correspondent

NEW DELHI: The Centre has recommended an increase in the National Floor Level Minimum Wages from the Rs.66 a day to Rs.80.

Speaking at the Economic Editors Conference here on Tuesday, Minister of State for Labour and Employment Oscar Fernandes said the new recommended wages would come into effect retrospectively from September 1, 2007. The States had been asked to fix the minimum wages at not less than Rs.80.

Similarly, the wage ceiling for applicability of the payment of Wages Act 1936 was also increased from Rs.1,600 to Rs.6,500 a month with effect from November 9 through an amendment and further to Rs.10,000 a month with effect from August 8, through a notification.

Responding to questions, Mr. Fernandes said the Employees Provident Fund Board was examining the option of investing five per cent of the EPF corpus in the stock market. The proposal had been before the Board for a long time but the members had not agreed to investment in the stock market so far. “We want to invest carefully to ensure that the capital is safe,” he said.

On the demand for interim relief to journalists and non-journalists until the recommendations of the two wage boards — constituted in January this year — were finalised, Mr. Fernandes said the issue would be discussed with the chairman before a final decision was taken. “The demand is being assessed,” he added.