Define the term “Cost of living Index” and explain the provisions relating to Exemption of liability of employer in certain cases under Minimum Wages Act 1948.
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cost- of- living index is a theoretical price index that measures relative cost of living over time or regions. It is an index that measures differences in the price of goods and services, and allows for substitutions with other items as price vary.
cost- of- living index is a theoretical price index that measures relative cost of living over time or regions. It is an index that measures differences in the price of goods and services, and allows for substitutions with other items as price vary.
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