Minimum Wages Act, 1952 – Statutory Compliance
Applicability:- It is applicable to all shop or establishment in India.
Return:- Annual
Due Date:- 1st February 2023
Compliances:-
a) Maintenance of Combined Muster Roll-cum-Register of Wages
b) Maintenance of Combined Registers of Fines, Deduction for Damage or Loss and Advance
c) Maintenance of Combined Register for Overtime Working and Payment
d) Preparation and distribution of wages slip in Form No. XI
e) Preparation of Annual Return Form-III and others.
f) Gazette Notification on minimum rate of wages (latest)
g) Working Hour Notice/Notice on current rates of minimum wages
h) Display of Abstract OF Act & Rule along with name & address of the Inspector
As per Ease of Compliance Rules 2017, Common Registers to be maintained either electronically or otherwise and used for the purposes, of the aforesaid act.
Form A, Form B, Form C, Form D & Form E has notified respectively.
Penalty for Non-Compliance:-
a) Non-compliance of the Act, i.e not paying minimum wages is a culpable offense. Imprisonment up to 5 years and a fine up to 10,000 is the maximum punishment that can be awarded.
Payment of Wages Act, 1936 – Statutory Compliance
Applicability:-
a) Applies to all persons employed, whether directly or through contractors, in a factory or other establishments.
b) Applicable on Employees drawing wages up to Rs.24,000/- (Basic Wages+ DA) Per Month.
The wages to the employed person must be paid before the expiry of 7th for less than 1,000 employees and 10th day for 1,000 or more employees after last day of the wage period.
Return:- Annual
Due Date:- 1st February 2023
Compliances:-
a) Maintenance of Combined Muster Roll-cum-Register of Wages
b) Maintenance of Combined Registers of Fines, Deduction for Damage or Loss and Advance
c) Maintenance of Combined Register for Overtime Working and Payment
d) Preparation and distribution of wages slip
e) Preparation of Annual Return Form-IV.
f) Display of Abstract of Act & Rule to be exhibited on the Notice Board is mandatory in English & Hindi both language.
As per Ease of Compliance Rules 2017, Common Registers to be maintained either electronically or otherwise and used for the purposes of the aforesaid act.
Form A, Form B, Form C, Form D & Form E has notified accordingly.
Penalty for Non-Compliance:-
Imprisonment for a term which shall not be less than 1 month but which may extend to 6 months and fine payable would be not less than Rs.3,750/- but which could extend to Rs.22,500/- or both.
Equal Remuneration Act, 1976 – Statutory Compliance
Applicability:-
a) Applies to all persons employed, whether directly or through contractors, in a factory or other establishments.
Compliances:-
a) Maintenance of Register in Form D
b) Maintenance of Muster Roll & Wages Register
c) Any discrimination done on the ground of gender while paying wages for the equal work.
d) No discrimination while recruiting on the ground of gender.
As per Ease of Compliance Rules, Common Registers to be maintained either electronically or otherwise and used for the purposes of the aforesaid act.
Form A, Form B, Form C, Form D & Form E has notified accordingly.
Penalty for Non-Compliance:-
Fine which shall not be less than 10,000/- but which may extend to 20,000/- or with imprisonment for a term which shall be not less than 3 months but which may extend to 1 year or with both for the first offence, and with imprisonment which may extend to 2 years for the second and subsequent offences.
Author – CA Gaurav Agrawal, Kishore Gupta & Co, Chartered Accountants in Practice from Central Delhi and can be contacted at [email protected] & Mobile Number 9711033545).
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