Whether persons working as marketing executives in private sector banks in Kerala, drawing compensation more than Rs. 7000, come under the Minimum Wages Act?
As private banks come under commercial establishments, they fall within the purview of the Minimum Wages Act. Please review the schedules provided for minimum wages covered in Kerala by the Government of Kerala to determine if private banks are included in the schedules for minimum wages.
If banks are covered under the Minimum Wages Act, then your salesperson is also covered by the Minimum Wages Act. You must make his payments in accordance with the minimum wages. If you pay more than the minimum wages, there will be no objection from any authority in the law.
Whether an employee is monthly rated, daily rated (or yearly rated) does not matter; what matters is whether he is receiving minimum wages (or more) or not.
Why do you think that you can pay less than the minimum wages if you are providing monthly wages?
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