EOBI Minimum notification 2016-17 and 2017-18

EOBI Minimum notification 2016-17 and 2017-18 were not issued on the respective years instead the notification / circular was issued on December 2018.
To download the PDF of the circular / EOBI minimum wage notification for 2016-17 & 2017-18 please Click the link below

In a commendable effort to ensure fair compensation for laborers, the Chief Commissioner of Islamabad Capital Territory has issued Circular No-01/2018-19, introducing crucial amendments in the Minimum Wages for Unskilled Workers Ordinance, 1961. These amendments signify a significant stride towards economic equity and social justice by enhancing the livelihoods of the working class.

Revised EOBI Minimum notification 2016-17 and 2017-18

The amendments primarily focus on revising the minimum monthly wages for unskilled workers in industrial and commercial establishments within Islamabad Capital Territory. Effective from July 1, 2016, onwards, the minimum monthly wage for unskilled workers has been set at Rs. 14,000, which has been subsequently increased to Rs. 15,000 from July 1, 2017, onwards. This adjustment acknowledges the importance of ensuring adequate remuneration for the workforce in line with the evolving economic landscape and cost of living

Equitable Social Security Contributions

A notable aspect of these amendments is the adjustment in contributions made by both employers and employees towards social security. Employers are now mandated to contribute 5% of the minimum wages per insured person per month, amounting to Rs. 700 from July 1, 2016, to June 30, 2017, and Rs. 750 from July 1, 2017, onwards. Similarly, employees are required to contribute 1% of the minimum wages per insured person per month, totaling Rs. 140 from July 1, 2016, to June 30, 2017, and Rs. 150 from July 1, 2017, onwards. These adjustments ensure an equitable distribution of the burden between employers and workers towards social security, promoting a sense of responsibility and ownership among the workforce.

Implications and Benefits

Beyond mere wage adjustments, these amendments set a precedent for fair and equitable compensation, signaling employers’ obligations towards their workforce. By adhering to international labor standards and conventions, the government underscores its commitment to upholding human rights and promoting social justice within the labor force. Moreover, these regulations contribute to poverty alleviation and social development by enabling workers to meet their basic needs and participate fully in society.

Conclusion

Circular No-01/2018-19 represents a significant milestone in promoting economic equity and social justice. By revising minimum wages for unskilled workers and introducing adjustments in social security contributions, the government advances fair and decent work for all. These amendments not only benefit individual workers but also contribute to the overall well-being and stability of society. Moving forward, it is imperative to build upon these initiatives and continue striving towards a more inclusive and equitable labor market.