The Government of Maharashtra on August 30, 2024, issued a notification regarding revision of minimum wage of Employment in any manufactory in which any process of metal.
Advisory Board, hereby revises, with effect from August 30, 2024 the basic minimum rates of wages payable to the employees employed in the said scheduled employment and refixes them, as set out in the Schedule appended to the document.
The Cost of Living Index Number for employees in scheduled employment in Maharashtra will be determined based on the average Consumer Price Index (CPI) for eleven centers in the state, using the New Series 2001=100. The Competent Authority, appointed by the government, will calculate this average every six months, starting from January 1 and July 1. The calculation will compare the average CPI with a base of 454 points, and for every point increase, a Cost of Living Allowance (COLA) of ₹25 per month will be added to the employees' wages for the next six months.
The Competent Authority will officially declare the calculated COLA in the last week of July for the period from July to December and in the last week of January for the period from January to June. Additionally, the Competent Authority will announce the COLA for the period between the fixation of minimum wage rates and the end of the relevant six-month period (either December or June).
[Notification No. MWA-1015/491/CR-171/Lab-7]
