What is the difference between a subsistence wage and a living wage?

What is the difference between a subsistence wage and a living wage?

A living wage is defined as the minimum income necessary for a worker to meet his or her basic needs. This is not the same as a subsistence wage, which refers to a biological minimum. Needs are defined to include food, housing, and other essential needs such as clothing.

Who is the pioneer of subsistence wage theory?

David Ricardo

Who started minimum wage?

Overview. The national minimum wage was created by Congress under the Fair Labor Standards Act (FLSA) in 1938. Congress enacted this legislation under its authority in Article I, Section 8 of the U.S. Constitution: “The Congress shall have power to . . .

What is minimum wage in India?

How is the minimum wage calculated in India? India offers the most competitive labor costs in Asia, with the national-level minimum wage at around INR 176 (US$2.

Which state has lowest minimum wage in India?

Nagaland

Why are wages so low in India?

Because a lot of people would rather work for less salary than stay jobless. The second reason is the cost of living. The cost of living in India is less than in western developed countries. You can not expect to work here and get the salary of that country.

What is the minimum salary 2020?

$13 per hour

What is the lowest legal salary?

Federal law establishes a minimum salary of $684 per week for the professional exemption.

What is the average minimum annual salary?

about $15,000

What is the minimum for a salaried employee?

A salaried employee should be paid no less than the number of hours worked at the California minimum wage. For employees working a full-time job at 40 hours per week, the minimum salary should be no less than $520.

Do exempt employees have to work 8 hours a day?

Most employers expect their exempt employees to work the number of hours necessary to get their jobs done. It doesn't matter if that takes more or fewer than 40 hours per week. Even if your exempt employee works 70 hours in a week, you are still only required to pay them their standard base salary.

Do salaried employees have to make up time?

Generally, salaried employees can vary their schedules without having to punch a time clock or stay late to make up for time spent at a doctor's appointment – but the FLSA does not prohibit an employer from imposing these rules on an exempt, salaried employee.

Who can be salaried?

You can pay a salary to certain types of employees, such as your business executives, administrators, professionals and outside sales people. The federal minimum salary rate per week at the time of publication was $455, but is subject to change.