The Policy Implications about the Determination of Minimum Wage for Win-Win of Labor and an Employment

Abstract

This paper try to investigate sense and concept, creation background and introduction objective of minimum wage system and economic effect for labor's stabilization of livelihood and qualitative elevation of labor and effective employment. And examine about diagnostic present state and the operation actual condition of minimum wage system of our country. May have to achieve effectiveness of minimum wage system, will have to enforce Minimum Wages Act uprightly and supervise and may have to strengthen a punishment that is strict about injuria that disobey this law. Also, need fair and reasonable coordination utilizing various objective informations or data For business rationalization and an efficient employment, try to attempt reorganization plan that can realize labor welfare regarding effectiveness of minimum wage system by examining at the same time whether some actual profit exists to laborer or user on this system.