The salaries/wages the average Indian regular employee is earning could look like pittance to the urban eye. The earnings of as many as 45 per cent of regular workers in India were below Rs 10,000 per month during the survey period (2017-18), the PLFS (Periodic Labour Force Survey - https://lnkd.in/gUi8sW6) data showed. Around 12% of workers were paid less than Rs 5,000 a month.
So, there are many millions of regular employees who are in the pay bracket of Rs 5000 to Rs 25000 per month in India. These employees, though require money every week for their day to day expenses, have to wait get till the end of the month or first week of next month for their salaries / wages.
This situation gives a scope for startups to start "pay as you earn" concept, wherein these employees are paid every week in advance by a fintech startup with nominal interest arbitrage and startup is paid directly by the employer after the end of month. Here, the scope for bad debts is very low. Think over it guys and girls out there.
All the best!
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How much do the salaried really earn? Here are the most detailed findings yet
The issue of jobs - or rather the lack of them - has dominated India's economic discourse for quite a while. But while the headline employment/unemployment numbers routinely grab the headlines, there is another equally important set of numbers - who gets paid how much - that doesn't usually draw similar attention.
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