Ludhiana: Hatred is brewing among businessmen on retrospective increase in minimum wages in Punjab.
The Federation of Industrial and Commercial Organizations (FICO) has written a letter to Charanjit Singh Channi’s minister’s chairman, demanding rollback at the beginning.
Entrepreneurs say if they obey orders, they have to pay arrears to workers based on retrospective with it, the minimum wage has been revised from Rs 8,776.83 to Rs 9,192.72 per month.
But in setbacks to employers, it has been decided that the increase will take effect from March 2020.
In the current situation when there is a severe deterioration in the market and especially the MSME unit is struggling to survive, this backdate increase is a big blow to the industry and cannot be justified .
“” We do not oppose the increase in minimum wage rates, but must be from the current date.
We asked for CM to increase it from September 2021, the other industry would not be able to bear this financial burden, “he added.
Jakarta Jain, Secretary General Fico, said,” Regardless of the minimum wage level, the industry will face other impacts as well, because we have to pay Arrears under ESI Law, EPF Law, income tax action, among others, and there will be other complications too.
Therefore, we requested CM to increase the minimum wage rate from September 2021.
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Bizmen: Roll back revised minimum wage from the backdate
