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Wages and Salary Administration  Presentation Transcript

1. Wages and Salary Administration
2. refers to the establishment of implementation of sound policy and practices of employee compensation . It includes such areas as job evaluation, survey of wages and salaries analysis, development and maintenance of wage structure, establishing rules for administrating wage payments, incentives, profit sharing, wage changes and adjustments, supplementing payments, compensation costs and other related areas.
3. Purposes
Eliminates inequalities
Minimizes chances of favoritism
Establishes sequences of jobs and lines of promotions
Increases employees motivation and morale
To plan and control labor costs
To explain basis of wage payment
To reduce frustration and grievances
to attract qualified personnel
4. Components Of Employee Remuneration
5. Influencing factors of Remuneration
6.Devising a Remuneration Plan
7. Concepts of Wages
Primary Compensation
Supplementary Compensation
Minimum Wages
Fair Wages
8. Methods of Wage Payment
Time Wage System:
Wages are paid on the bases on time spent on the job.
The unit time may be a day week a fortnight or a month

Advantages:
Workers can easily compute their own remuneration
Earnings of workers are regular & fixed

Disadvantages:
Doesn’t provide incentives for the better performance
No distinction between efficient & inefficient workers
Suitable where units of output is not measurable like mental work or office work.

9. Piece Wage Rate:
Remuneration is based on the amount of work done or output of the workers. One unit of output is considered as one piece & specific wages are given as per one unit.

Advantages:
Ambitious workers get proper utilization of their talent
It’s a fair method
Management can distinguish between efficient & inefficient employees
Cost of labor per unit of output can be easily counted
Drawbacks:
Excessive speed of work leads to health problems

10. Wage Policy in India
Payment of Wages Act 1936
Minimum wages Act 1936
Industrial Dispute Act 1947
Equal Remuneration Act 1976
Payment of Bonus Act 1965
 

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