logging in or signing up Wage and salary MrunaliniRane Download Post to : URL : Related Presentations : Let's Connect Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Copy embed code: Embed: Flash iPad Dynamic Copy Does not support media & animations Automatically changes to Flash or non-Flash embed WordPress Embed Customize Embed URL: Copy Thumbnail: Copy The presentation is successfully added In Your Favorites. Views: 1881 Category: Education License: All Rights Reserved Like it (0) Dislike it (0) Added: August 01, 2011 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript WAGES AND SALARIES: WAGES AND SALARIES Presented By Mrunalini B. RaneSlide 2: WAGES A wage is a compensation, usually financial, received by workers in exchange for their labor . W ages are monitory and applicable for the labour workforce.Slide 3: SALARY Money paid periodically to persons whose output cannot easily be measured, such as clerical staff, supervisory and managerial staff is termed as salary salary consists of HRA, DA, PF, ESISlide 4: Difference between Wage & Salary Wage : Paid to blue-collar workers-paid daily, weekly or monthly-paid for the jobs which can , to some extent, be measured in terms of money’s worth Salary : Paid to white collar workers-paid monthly-paid to employees whose contribution cannot be easily measuredSlide 5: Concept Of Wages MINIMUM WAGES FAIR WAGES LIVING WAGESSlide 6: Factors influencing wage and salary Wage policy of the company Psychological and sociological factors Levels of skills available in the market The prevailing market rate Supply and demand of labour •Slide 7: PAYMENT SYSTEMS Salary payment Systems Fixed Incremental Variable Incremental Fixed merit Variable MeritSlide 8: 2)Wage Payment System Payment By Results Measured day Work Flat-Rate SystemsSlide 9: Two Types of Wages The time wage system The time wage system is that system of wage payment in which the workers are paid on the basis of time spent by them in the factory. Under this system, the workers and employees are paid wages on the basis of the time they have worked rather than the volume of output they have produced .Slide 10: We can calculate wages with following formula Total Wages = Time taken X Rate For Example A worker produced 10000 articles in 7600 hours. His hourly wage rate is Rs. 2 /- . Calculate the wage of the worker when he is paid on the basis of time. Solution : Applying the formula, we get : Wage = T.T. X R = 7600 X 2 = Rs. 15200Slide 11: The piece Wage system The piece wage system is that system of wage payment in which the workers are paid on the basis of the units of output produced A fixed rate for producing a unit of output is agreed upon and paidSlide 12: Total Wages = Unit Produced X Rate per unit For Example : 2500 units were produced by a worker in 1200 hrs. Rate of production is Rs. 3 /- per unit. Calculate the wage of the worker if he is paid according piece rate method. Solution : By applying formula, we get : Wages = units produced X rate per unit = 2500 X 3 = Rs. 7500 You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.