Minimum Salary‏

30-Jan-2007
Dear Prime Minister,

I work in an IT company whose employee strength is around 1800. Average salary of the employees is around Rs 40,000 per month. We have a 35 acre campus in the heart of Bangalore. There are at least 50 security guards protecting the campus 24 X 7. Salary of the security guards varies between Rs 4000 to Rs 6000 per month. If the salary of other employees is reduced by Rs 500 per month, it would generate enough money to increase the salary of security guards by Rs 18,000 per month.

In a city like Bangalore to lead a decent life one need at least Rs 20,000 per month. I have few suggestions for even distribution of salaries with due respect for the brilliants.

1. Maximum salary including bonus, perks, and shares, of an employee within the company should not be 20 times more than minimum salary of the contractors or permanent employees. 2% of the critical employee including CEO, MD, CFO or board of directors may get 50 times more
2. Higher the minimum salary, higher the times maximum salary can be multiplied by. For example if minimum salary is Rs 20,000 based on current inflation rate, maximum salary including bonus, perks, shares may go up to 40 times. 2% of the critical employee including CEO, MD, CFO or board of directors may get 60 times more
3. There should be a slab in interest rate of PF based on annual income. If someone is earning more than 8 lacs a year, there should not be any interest on PF or PF deduction should be proportionately less

The point that I am trying to make is that every Indian should earn enough money to lead healthy and comfortable life. My measure for comfortable life for a 6 member family with at least one earning member is as follows

a. A 2-3-room decent house of 700-1000 sq ft (owned or rented)

b. Ability to buy within three years of service

  i. An refrigerator, flat colour TV - 21inch, DVD/CD Player, Music system

  ii. Gas oven, water filter, mixer, dinner set

  iii. Beds, sofa, dinning table

  iv A computer with internet, cable TV, mobile phone

c. Four meals a day with requisite calorie for every family member

d. mediclaim for entire family

e. Education for the kids in a reasonably good school

f. to dine with whole family in a restaurant once in a month

g. to shop in a mall during festive seasons

h. Some savings every month.