Minimum Wage and Fitment Formula.
The Staff Side (JCM) has calculated minimum wage as on 1st Jan 2014 as per the Dr. Aykroyd formula as Rs 26,000/- taking into following prices.
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Shri.P.S.Prasad General Secretary of COC Karnataka expressed his views about the calculation of fitment formula and computation of minimum wage of 7th CPC on its blog. He hinted in this article that most of the pay commissions have accpeted 70% of the staff side demand. Especially NC JCM Staff Side demands to fix minimum wage at Rs.26000.
The Staff Side (JCM) has calculated minimum wage as on 1st Jan 2014 as per the Dr. Aykroyd formula as Rs 26,000/- taking into following prices.
Table 5.1
PRICES OF THE INGREDINTS SPECIFIED IN TEH 15TH ILC TO CALCULATE THE MINIMUM WAGES AS ON 01.05.2014
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