It is imperative to understand the various components of ‘wages’, so as to determine the applicability of the wage ceiling described above. Section 2(vi) of the Wages Act, which defines ‘wages’, provides for specific components as well as certain exclusions in this regard. Section 2(vi) defines ‘wages’ broadly as all remuneration “expressed in terms of money or capable of being expressed in terms of money”, which is payable to an employee in respect of his employment. The following components are specifically included within the definition of wages: (a) remuneration with respect to overtime work, holidays or leave periods; (b) any additional remuneration (such as bonus) payable under the terms of employment. This could, for example, be the bonus payable under the Payment of Bonus Act, 1965; and (c) remuneration payable under any award or settlement between the parties or order of a Court. On the other hand, some of the exclusions are: (a) bonus which does not comprise remuneration payable under the terms of employment (for example, a profit sharing arrangement); (b) value of house accommodation or other amenities provided; (c) employer contributions to any pension or provident fund, and accrued interest; and (d) travelling allowance and sums paid to cover any special expenses incurred by the employee.