May 10, 2015

Minimum Wage of Rs 26,000/- Justified and Fitment formula

Indian Military Veterans

Confederation of Central Government Employees and Workers
Karnataka State
Comrade,
The DIRECTORATE OF ECONONMICS & STATISTICS DEPARTMENT OF AGRICULTURE & COOPERATION MINISTRY OF AGRILCULTURE GOVERNMENT OF INDIA NEW DELHI has published the RETAIL PRICES OF FOOD AND NON FOOD ITEMS VIDE http://rpms.dacnet.nic.in/ PLEASE GO THROUGH THIS IMPORTANT LINK .
which contains district wise price report.
http://rpms.dacnet.nic.in/Bulletin.aspx
You can get any price of any article using the Query option.
http://rpms.dacnet.nic.in/QueryReport.aspx
The prices of many items provided by the Staff side JCM are lower than the retail prices provided by the Government agency . Hence the Minimum wage of Rs 20,000/- is justified for the erstwhile Group “D” with effect from 1/1/15 using Dr Aykroyd formula . After weightage of 25% for Group “C” it works out to Rs 26,000/- .
The fitment formula may range from 2.72 times to 3.72 depending upon the weightage.
The Sixth Central Pay Commission has recommended a minimum wage of Rs 6600/- per month against the demand of Rs 10,000/- per month as worked out by Staff side of JCM, Today the minimum need based wage works out to Rs 26,000/ per month.
Comradely yours
(P.S. Prasad)
General Secretary
source-http://karnatakacoc.blogspot.in/
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