Explanation:

Both the statements are correct. 

• The Minimum Wages Act, 1948 was enacted to safeguard the rights and interests of the workers working in some scheduled class of employment which is laid down under the Act. 

• The Act seeks to provide equal employment opportunities and adequate remuneration for maintaining a decent standard of livelihood for the workers.

• The Minimum Wages Act, 1948 was enacted by the Indian Legislature to deal with matters relating to providing the minimum wage to the workers so that they can afford their basic needs and maintain a decent standard of livelihood.