Minimum wage (MW)

a guaranteed minimum level of wages officially established by the state by law at enterprises of any form of ownership, below which the labor of workers and employees cannot be paid. The value of the minimum wage is not always tied to the subsistence minimum. It is determined in each period of time by the financial capabilities of the state, periodically changes. The minimum wage is used to calculate the amount of taxes, payments, fines. The fork of personal income tax is also tied to the minimum wage.