Respected Seniors, I am working in a manufacturing company as an HR Manager. Recently, there was an amendment in the Payment of Wages Act on 28.07.2017 (Gazette Notification below). Please advise if there are any financial or non-financial implications of the same or if we are required to amend any records or returns.
Payment of Wages Act Amendment
S.O. 2806(E). In exercise of the powers conferred by sub-section (6) of section 1 of the Payment of Wages Act, 1936 (4 of 1936), the Central Government, on the basis of figures from the Consumer Expenditure Survey published by the National Sample Survey Organization, hereby specifies rupees twenty-four thousand per month as the wages under the said sub-section (6).
Payment of Wages Act Amendment
S.O. 2806(E). In exercise of the powers conferred by sub-section (6) of section 1 of the Payment of Wages Act, 1936 (4 of 1936), the Central Government, on the basis of figures from the Consumer Expenditure Survey published by the National Sample Survey Organization, hereby specifies rupees twenty-four thousand per month as the wages under the said sub-section (6).