Straight Piece Rate System of wage payment The earnings of the worker are calculated on the basis of the number of pieces produced by him/her. The volume of
What Time Rate Wage System? Time Rate System is otherwise called as Time Work, Day Work, Day Wages and Day Rate. It is the oldest method of remuneration.
What is a Nominal Wage? Nominal Wages refer to the wages paid in terms of money. This can be called money wages. The remuneration received by labour in
Procedure for payment of wages Pay slip is prepared on the basis of the payroll or wages sheet. Pay slip is prepared for each worker separately. Now, each
Characteristics or Features of Sound wage system A sound wage system has the following characteristics. 1. Fairness in paying wage Reasonable wages should be paid to the workers.
