HR and Business Law

Minimum Wage

Minimum wage: It is the lowest amount of money that a worker receives per hour, day or month by law. It is also the lowest amount for which a worker may sell his labor. This amount may be determined to cover the wages of all workers or a group of them working in certain industries. However, minimum wage laws often do not cover the wages of people who work in a craft or industry that they own, or people who work as employees in small companies and factories.