what is the minimum wages of insurance agent in india? are they covered under minimum wages act? if they are not under minimum wages act then under which act they are ?
From India, Kolkata
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From India, Kolkata
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Dear Biswas,
When you refer to a person as an agent, the compensation for the services rendered by such a person cannot be wages but "commission" only, based on the volume of business transacted or work done by them. The relationship is that of Principal and Agent, making such an engagement simply a "contract for service" and not a "contract of service" in the realm of employment. Therefore, it cannot be brought within the scope of any labor law.
From India, Salem
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6108When you refer to a person as an agent, the compensation for the services rendered by such a person cannot be wages but "commission" only, based on the volume of business transacted or work done by them. The relationship is that of Principal and Agent, making such an engagement simply a "contract for service" and not a "contract of service" in the realm of employment. Therefore, it cannot be brought within the scope of any labor law.
From India, Salem
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Minimum Wage of UP & UK.pdf