**Problem Analysis**

Let's assume the wages of each man be 'm' and the wages of each boy be 'b'.

Given:
8 men and 6 boys earn a total of ₹33.
4 men earn ₹4.50 more than 5 boys.

**Equations**

From the given information, we can form the following equations:

Equation 1: 8m + 6b = 33 (Equation representing the total wages earned by 8 men and 6 boys)

Equation 2: 4m = 5b + 4.50 (Equation representing the wages of 4 men being ₹4.50 more than the wages of 5 boys)

**Solving the Equations**

We can solve these two equations to find the values of 'm' and 'b':

Step 1: Rearrange Equation 2 to express 'm' in terms of 'b':
4m = 5b + 4.50
Divide both sides by 4: m = (5b + 4.50)/4

Step 2: Substitute the value of 'm' from Step 1 into Equation 1:
8((5b + 4.50)/4) + 6b = 33
Multiply both sides by 4 to eliminate the fraction: 2(5b + 4.50) + 6b = 132
Simplify: 10b + 9 + 6b = 132
Combine like terms: 16b + 9 = 132
Subtract 9 from both sides: 16b = 123
Divide both sides by 16: b = 123/16

Step 3: Substitute the value of 'b' from Step 2 into Equation 2 to find 'm':
m = (5(123/16) + 4.50)/4

**Calculations**

Simplifying the above expression gives us the value of 'm'. We can then substitute this value into Equation 1 or Equation 2 to find the final values of 'm' and 'b'.

Let's calculate the values:

Value of b = 123/16 = 7.6875 (approx.)

Substituting the value of b into Equation 2:
m = (5(7.6875) + 4.50)/4
m = (38.4375 + 4.50)/4
m = 42.9375/4
m = 10.734375 (approx.)

**Conclusion**

The wages of each man is approximately ₹10.73 and the wages of each boy is approximately ₹7.69.