What is Minimum wage
The minimum wage is the lowest amount of remuneration an employer must pay to their staff for the work they perform. The minimum wage is the absolute least employees can be compensated, without exception. An individual contract or collective agreement cannot reduce this amount.
Minimum wages are set to protect employees against extremely low pay. They are put in place to ensure that all staff are being paid a fair amount and can live off the income they receive from employment. Minimum wage plays a part in reducing the pay gap between genders and can help people to overcome poverty. The minimum wage promotes equal pay for equivalent roles.