On this day, 31 years ago, on December 1, 1994 (October 29, 1994, the lunar calendar), Beijing City began to implement the Minimum Wage Regulations. On December 1, 1994, the "Beijing City Minimum Wage Regulations" officially came into effect. All citizens working in Beijing can enjoy a minimum wage of at least RMB 1.1 per hour or at least RMB 210 per month. This is a legal guarantee. This is the first time most China have heard of the term "minimum wage". Coincidentally, when a TV station interviewed about the minimum wage, the people who answered that they did not know or knew that they were indifferent were all employees with good economic benefits. The minimum wage refers to the minimum labor remuneration that workers should pay by their enterprises during the working hours stipulated by national laws and regulations on the premise of providing labor. This remuneration is necessary to meet the basic living expenses of the individual worker and his family members. The market economy and the diversification of economic components have complicated labor relations. Before the promulgation of the Labor Law, my country lacked relatively complete regulations to protect the legitimate rights and interests of workers. There were also phenomena in this city that a small number of enterprises defaulted on payment, deducted employee wages, or used products to offset wages, especially in state-owned private enterprises and non-public enterprises. In enterprises, working hours were extended at will and the minimum labor remuneration was not guaranteed for employees. Labor dispute cases in which employee wages were paid less or no have also increased significantly. In the first half of this year alone, the city accepted 137 such cases, an increase of 391% from 35 cases in the whole of 1993. Some cases even led to collective stoppages, affecting social stability in the capital. Establishing a minimum wage system is very necessary to curb this phenomenon and maintain social stability. The minimum wage standard was formulated this time mainly based on the data provided by the municipal statistical department on the minimum living expenses, average wage levels of employees, labor productivity, urban employment conditions and economic development levels of the city's employees and their dependent population in 1993, and calculated using the internationally commonly used proportion method and Engel's coefficient method. In 1993, the Municipal Bureau of Statistics calculated that the minimum monthly living expenses per capita for urban residents in this city was 160 yuan. After multiplied by the maintenance coefficient of 1.42, it was appropriately adjusted based on the actual situation of the city and the affordability of the enterprise to arrive at 210 yuan. This figure is used as the city's minimum wage standard. This amount can protect the minimum living standard of individual workers and the family members they support. Article 48 of the Labor Law clearly stipulates that the state implements a minimum wage guarantee system. The wages paid by the employer to workers shall not be lower than the local minimum wage standard. The "Beijing City Minimum Wage Regulations" not only clearly stipulate the scope of people who enjoy the minimum wage and the contents of the minimum wage, they also stipulate that if an enterprise pays a worker less than the minimum wage standard, the worker has the right to request compensation and require the enterprise to pay compensation. The compensation ranges from more than 6 days to more than 3 months in arrears and is calculated based on 20% to 100% of the minimum wage owed. Those who violate regulations and fail to correct within the time limit will be fined 3000 to 5000 yuan and 100 to 500 yuan on the enterprise and the person directly responsible. If the circumstances are serious, the Labor Bureau may request the Industry and Commerce Bureau to impose penalties on the enterprise to suspend production for rectification or revoke its business license. Liu Zhihua, director of the Municipal Labor Bureau, said that for state-owned and collective enterprises that have difficulty in implementing the minimum wage within the prescribed time due to poor economic returns and low wage levels, they can apply for suspension of implementation by the Labor Bureau for approval, but the maximum suspension period shall not exceed half a year. If suspending the implementation of the regulations cannot solve the problem, you can apply for wage reservation accounts, and the bank will control the company's current payments and set aside in advance this part of the money to ensure normal payment of wages. If these two measures still fail to ensure the payment of the minimum wage for employees, enterprises should strictly follow relevant national regulations to carry out economic layoffs or even go bankrupt. Even the minimum wage of 210 yuan for employees cannot be paid, and the company loses its value of survival. The minimum wage has become one of the indicators for weighing the bankruptcy of a company.