Under the Minimum Wages Act of 1948, adjustments have been made to the variable wage allowances across 74 scheduled employments. Recent notifications have specified increases in basic rates of wages and variable dearness allowances for various categories of workers. From April 1, 2024, the All India Consumer Price Index for these employments will be set at 400 points, affecting variable dearness allowance calculations. For instance, an unskilled worker earning Rs 5750 per month would receive a variable dearness allowance of Rs 4898 from April to September 2024. This ensures fair compensation in line with inflation. The Act guarantees minimum wages tailored to different job categories, promoting economic stability for workers. This notification was published on May 16, 2024.
Launch of Association of NPS Intermediaries
22 December 2024
The ANI stakeholders are Points of Presence (Bank and Non-Bank), Central Record Keeping Agencies, Trustee Banks, Custodians, Aggregators, Annuity Service Providers, Pension Agents, Retirement Advisors,
