What Is Your Minimum Wage? Will You Get Statutory Bonus? | Labour Codes – Part 1

📌 MINIMUM WAGE & STATUTORY BONUS | INDIAN LABOUR CODES – PART 1 What is your legal minimum wage in India? Will you get statutory bonus? Are you covered under the Labour Codes? Who is an employee and who is a worker? Who is responsible for fixing minimum wages — Central Government or State Government? In this video, we begin a practical and easy-to-understand explanation of India's Four Labour Codes and the major labour-law provisions applicable to employees, workers, employers, HR and payroll professionals. This series is designed to help you understand the Indian Labour Code framework, employee rights, employer responsibilities and important labour compliance requirements in practical terms. 📚 IN THIS PART – CODE ON WAGES, 2019 We will understand: ✅ What are Minimum Wages? ✅ Who is entitled to minimum wages? ✅ Who is an "employee" and who is a "worker"? ✅ Difference between employee and worker ✅ Who is covered under the Code on Wages? ✅ How are minimum wages determined? ✅ Central Government vs State Government – who fixes minimum wages? ✅ What factors are considered while fixing minimum wages? ✅ What is the statutory definition of "Wages"? ✅ How should wages be structured? ✅ The 50% wage rule and its practical impact ✅ Practical wage examples – ₹15,000, ₹20,000 and ₹35,000 ✅ What is statutory bonus? ✅ Who is eligible for statutory bonus? ✅ What is the minimum statutory bonus? ✅ What is the maximum bonus? ✅ Why does the law prescribe minimum and maximum bonus? ✅ Introduction to Set-on and Set-off 💡 PRACTICAL APPROACH Instead of discussing only the legal definitions, this video explains the Labour Code provisions using practical payroll and salary examples so that employees, employers, HR professionals, payroll teams, Finance professionals, CA students and professionals can understand how these provisions work in real-life situations. 🇮🇳 INDIAN LABOUR CODES This video is part of a broader series covering the Four Labour Codes in India: 1️⃣ Code on Wages, 2019 2️⃣ Industrial Relations Code, 2020 3️⃣ Code on Social Security, 2020 4️⃣ Occupational Safety, Health and Working Conditions (OSHWC) Code, 2020 We will progressively understand how these Labour Codes affect India's workforce, employees, workers, employers, HR and payroll compliance. 📚 THIS IS PART 1 In this part, the primary focus is on Minimum Wages and the beginning of the Statutory Bonus provisions under the Code on Wages. The detailed bonus calculation, including Set-on, Set-off, opening balance, utilisation, closing balance and practical 10-year numerical examples, will be covered in the next part. ⚠️ IMPORTANT LEGAL DISCLAIMER Labour-law applicability is not identical for every employee, worker or establishment. Applicability depends on the relevant statutory provisions, nature of establishment, employee/worker category, prescribed thresholds and applicable Central and State requirements. This video is created for educational and awareness purposes. Labour laws, rules, notifications and implementation requirements may change. Always verify the latest applicable legislation, Government notifications and rules before taking any compliance decision. 👨‍💼 THIS VIDEO MAY BE USEFUL FOR: Employees | Workers | Employers | HR Professionals | Payroll Teams | Finance Teams | Chartered Accountants | Auditors | CA Students | Business Owners | Compliance Professionals If you find this video useful: 👍 Like the video 🔔 Subscribe to CA Gangadhar Reddy B 📤 Share this video with your HR, Finance, Payroll, CA, Auditor, employer, employee and professional friends. Your one share may help someone understand their statutory rights and responsibilities. 📌 NEXT PART: Statutory Bonus Calculation + Set-on & Set-off Practical 10-Year Numerical Examples #IndianLabourCodes #LabourCodes #LabourLaw #CodeOnWages #MinimumWages #StatutoryBonus #LabourCode2019 #EmployeeRights #WorkerRights #HRCompliance #PayrollCompliance #LabourCompliance #IndianLabourLaw #EmploymentLaw #HR #Payroll #CAGangadharReddy