Mr. Jeevan Kumar, HR Head from 'Solara Active Pharma Sciences Ltd', Mangalore, addressed the students of II MSW – PM & IR on 11th August, 2018 on the topic, ‘Minimum Wages’ and ‘Wage Structure’. Mr Kumar interacted with the students, and helped them in understanding the concept of minimum wage, the body that constitutes the fixation of minimum wages, and the criteria on which the minimum wages are based on.
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During this session, the students were provided with a practical understanding of preparing a wage structure through an exercise of calculating the various allowances and statutory deductions in a person’s wage. Mr. Kumar also provided an insight on the preparation of a fitment with the CTC provided. He concluded the session by mentioning about the legal implications of not following the payment of minimum wages to the workers.
The session was extremely informative to the students, and a practical exercise of calculating various elements of the basic salary, as well as the CTC structure, helped the students to have a clearer understanding on the theoretical knowledge gained.
