Is Our Money Transfer Company Subject to the Minimum Wages Act of 1948?

Dear Friends,

Our company is registered under the Company Act of 1956 and operates in the service sector, dealing with foreign currency and money transfer. Therefore, I would like to inquire if our company is also covered under the Minimum Wages Act of 1948.

We must ensure that we adhere to the guidelines outlined in the act, or determine if our company is exempt from compliance.

Thank you.

Dear Member,

The applicability of the Minimum Wages Act, 1948 depends on the inclusion of the employment in which you are working in the list of scheduled employments by the appropriate central/state Government under the Minimum Wages Act, 1948. I recommend that you approach your local labor office to determine whether your company is covered under the Minimum Wages Act, 1948 or not.

With Regards,
R N KHOLA
Skylark Associates, Gurgaon

Which state are you in? Minimum wage now applies to almost all activities. If you have an office, then most probably you are covered. Check the minimum wage notification of the state for the minimum wage rate.