Payment of Wages and Minimum Wages Act

PAYMENT OF WAGES ACT

  • REGISTERS:
    1. FORM I : Register of Fines
    2. FORM II: Register of Deductions
    3. FORM III : Register of Advances
  • FORMS:
    1. FORM V to be displayed
    2. Date of Payment
  • PAYMENT DATE: Payment has to be paid by 7th (<= 1000 Employees) OR 10th (> 1000 Employees) of Every Month.
  • Deductions: Upto 75% of the Total gross Salary.
  • Fines: Upto 3 % of the gross Salary.
  • Annual Return: FORM IV before 15th FEB to Labour Office.
  • This ACT is applicable for those whose monthly average wages <= Rs.10000.

MINIMUM WAGES ACT

  • Registers:
    1. FORM IV : Register of Overtime
    2. FORM V: Register of Wages.
    3. FORM VI: Register Muster Roll
    4. FORM T Register
  • FORMS: FORM X – Minimum Wages Act.
  • Salary Slip Distribution: One day before the Salary distribution.
  • OVERTIME: Should pay double the ordinary rate of wages if 9 hours crossed or 48hrs in week.
  • Annual Return: FORM III before 31st JAN to Labour Office.
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