05-12-2012, 01:32 PM
WAGE STRUCTURE
WAGE STRUCTURE.ppt (Size: 60.5 KB / Downloads: 27)
Wage structure of a plant or an office or,more broadly, of a national economy can be viewed as a series of wage rates designed to compensate workers for their varied skills.
An analysis of wage structure can be done through internal wage rate comparison of job content and job relationships and external comparison of job rates in the firms to the labour market
THE INDUSTRIAL WAGE STRUCTURE IN INDIA CONSISTS OF GENERAL
COMPONENETS LIKE-
BASIC
DA
ANNUAL STATUTORY BONUS
VARIOUS INCENTIVES.
BASIC WAGE :
THE CONCEPT OF BASIC WAGEIS CONTAINED IN THE
REPORT OF THE COMMITTEE OF FAIR WAGES. ACCORDING TO THE
COMMITTEE ,THE FLOOR OF THE BASIC PAY IS THE “MINIMUM WAGE”.
IT IS ORDINARILY UNDERSTOOD TO MEAN THAT PART OF
THE PRICE OF LABOUR WHICH THE EMPLOYER MUST PAY TO ALL
EMPLOYEE BELONGING TO ALL CATEGORY.
THIS IS ORDINARILY USED IN CONTRADICTION TO ALLOWANCES ,THE
QUANTUM OF WHICH MAY VARY IN DIFFERENT CINTINGENCIES.
BASIC IS DEFINED BY HONOURABLE SUPREMECOURT IN THE CASE
OF MANIPAL ACADEMY OF HIGHER EDUCATION VRS.P.F.COMMR.
AS “AMOUNT PAID UNIVRSALLY,NECESSARILY AND ORDINARILY”
THE REVISION OF BASIC WAGES HAS BECOME LESS FREQUENT
BECAUSE OF EVER GROWING DA COMPONENTS.
IT PROVIDES THE STABLE BASE TO THE WAGE STRUCTURE.IT IS