According to the relevant provisions of the Labor Law, wages should be paid in legal tender and not in kind or marketable securities instead of loans.
Legal consequences of wage arrears:
Article 91 of the Labor Law: "If an employing unit infringes upon the legitimate rights and interests of workers in any of the following circumstances, the labor administrative department shall order it to pay wages and economic compensation to the workers, and may also order it to pay compensation:
1, deducting or unreasonably delaying the wages of workers.
2. Refusing to pay overtime wages to the workers.
3, below the local minimum wage standard to pay the wages of workers.
Extended data:
If you want to pay interest on unpaid wages, you must take tougher measures to deal with unpaid wages.
Although it should be, it is an improvement that the regulations intend to stipulate "paying more interest". Wages in arrears are the legitimate income of migrant workers. Whether the money is deposited in the bank or used for investment, it will have a normal return on interest. If the unpaid party does not pay interest, it is an economic loss for migrant workers. "Paying interest" can avoid this kind of loss, increase the real income of migrant workers and further protect their rights and interests.
For those who are in arrears with their wages, it is necessary to pay the cost of capital to occupy the wages of migrant workers, which is no different from the reason that they pay interest on bank loans. In reality, it is not excluded that some unpaid parties deliberately owe wages to migrant workers in order to obtain interest income, and unpaid wages have become a way for unpaid parties to make profits.
Nowadays, the regulations intend to stipulate "extra payment of interest", which will undoubtedly increase the cost of unpaid wages, or will force some units or "foremen" to dare not default on the wages of migrant workers and pay wages as soon as possible after unpaid wages. In addition, the provisions such as "additional compensation" in the Regulations will also put greater pressure on the unpaid party.
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People's Daily Online-Workers' Daily: If you want to pay interest on unpaid wages, you must take tougher measures to treat unpaid wages.