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Advantages Of Minimum Wage

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It is often alleged that minimum wage plays a significant role in everyday life. Many companies and individual entrepreneurs are inclined to prioritise this notion in their business and work. In order to provide the definition of it the following interpretation can be used: minimum wage is an amount of money that is the least amount of money per hour that workers must be paid according to the law. This amount of the minimum wage depends on a country and the varieties of it are enormous. In general, there are some advantages and disadvantages of denoting the national minimum wage for a particular country. In this essay the question under discussion is the situation with the minimum wage in the Russian Federation.

First of all, there is a difference …show more content…

University of Amsterdam has provided some materials and statistics to clarify what happens in the Russian Federation now. Turning to the statement of giving the money per month there were no dramatically changes, but today there are special social benefits such as bonuses which vary from the above mentioned: this type of benefits means some kind of private paying, for example, for an anniversary or for special purposes like promotion in the company. This brings workers more motivation and willingness to continue the job. In the same way there are more special benefits which are paid for extra hours. Higher minimum wage is obtained by employees whose job is related to danger, harmful or hazardous conditions etc. Correspondingly to the large territory and the situation with minimum wage in different regions of the country, there is also a point in Art 129 in the Labour Code about the geographical position of workers in some territories (mostly in the North). They are provided with some benefits and additions to their minimum wage.

Considered all the above mentioned, the following conclusion can be made. Despite some disadvantages of national minimum wage in the Russian Federation the changes in today 's situation and hopes for the brighter future allow to present the whole issue with the minimum wage in Russia as quite proper and not so differ as in the other

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