The minimum wage is the lowest amount of money paid by an employer to their employees. It is the legal requirement, and laborers get paid minimum wage or more than this. The minimum wage legislation was passed in the 20th century and is now a legal requirement in many countries.In America, the national minimum wage was created in 1938 and is still effective. The current federal required minimum wage is $7.25 per hour of work. But in the United States, different states are allowed to set … [Read more...] about What is the Minimum wage in Tennessee?
Wage
Minimum Wage in Virginia
Most companies and corporations are confined to meet some federal requirements as per the law in Virginia. There is currently no defined overall minimum wage rate in Virginia, but organizations including more than four workers befit this policy.The current minimum wage in Virginia is fixed at $7.25/hour, which is according to the federal wage plan. The government is working to change this policy and raising it to $9.50/hour from 1st May 2021.Furthermore, it can extend to $11/hour from … [Read more...] about Minimum Wage in Virginia
Classification of Wages
“The wage is a sum of money paid under contract by an employer to a worker in exchange of services rendered by the worker” BenhamAnyhow, more comprehensively,“A wage is the remuneration paid to labour in return of services rendered either under contract or independently.”Classification of WagesThe rewards of labour can be classified under the following categories:SalaryIf a person is highly paid, the remuneration is called salary e.g. the earning of a professor, engineer, … [Read more...] about Classification of Wages