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Modern Labour Act (669): Difference between revisions

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## The agreements reached through the negotiations shall be binding and enforceable for all employers and employees within the respective industry or sector, in which the terms agreed must be documented and submitted to the Ministry of Commerce and Labour for record-keeping and transparency.
# In the event of a deadlock in negotiations, parties may seek mediation or arbitration services from an independent body appointed by the Ministry of Commerce and Labour which will must mediate in a manner that is fair, impartial, and aimed at reaching a mutually acceptable resolution.
# For the minimum wage discussion, there shall be a minimum limit where the negotiations must start upward from, named the Minimum Income Base (MIB):
## The hourly MIB shall be set at 25 florins for hourly employment.
## The annual MIB shall be set at 50.000 florins for salaried employment.
# The Ministry of Labor shall monitor compliance with the agreed-upon minimum wage standards through periodic employer reports of wage levels to ensure adherence to collective agreements.
# Employers found in violation of the agreements reached shall be subject to penalties, such as compensation and fines.
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