How many million pesos in total assets exempt a business from the coverage of the Minimum Wage Law?

The correct answer is three million pesos, which reflects the threshold established by the Minimum Wage Law regarding the coverage of businesses. This law specifies that businesses with total assets below this amount are exempt from the minimum wage requirements. The rationale behind establishing such a threshold is to alleviate the financial burden on small businesses and encourage their growth and sustainability.

Understanding the exemption limit is crucial for business owners and entrepreneurs because it influences their operational costs and compliance with labor laws. Those who exceed the threshold are required to comply with the provisions of the Minimum Wage Law, which mandates paying employees at least the minimum wage set by governing authority. This provision supports fair labor practices while considering the economic realities faced by smaller enterprises.

In the context of the other choices, the figures represent amounts that exceed the exemption limit, thereby making those options incorrect.