As per the Code on Wages Section 7 - 7. (1) Any minimum rate of wages fixed or revised by the appropriate Government under section 8 may consist of––
(a) a basic rate of wages and an allowance at a rate to be adjusted, at such
intervals and in such manner as the appropriate Government may direct, to accord as
nearly as practicable with the variation in the cost of living index number applicable to
such workers (hereinafter referred to as “cost of living allowance”);
or
(b) a basic rate of wages with or without the cost of living allowance, and the
cash value of the concessions in respect of supplies of essential commodities at
concession rates, where so authorized;
or
(c) an all-inclusive rate allowing for the basic rate, the cost of living allowance
and the cash value of the concessions, if any the above is the components of min. wages