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Types of Wages | Labour | Production | Economics

One of the most important and difficult problem of Personnel management is to determine the rate of wages and salaries. Personnel Management has to develop a method of wage payment that may be helpful in controlling the cost of production in establishing a fair and equitable remuneration for all the workers and employees, in motivating […]

Methods of Wage Payments | Labour | Production | Economics

There are different methods of wage payments. Wages are paid for work done and this is sometimes measured by the time worked i.e. according to the period of time the worker is employed, and sometimes by output. The former is called “piece wages” and the latter “time wages”. Under “time wages” or time rates a […]

Methods to Regulate Wages in India | Labour | Economics

The various methods which the government has adopted to regulate wages in India are the following: 1. Prescribing Minimum Rates of Wages 2. Preventing Discrimination in Remuneration on the Ground of Sex 3. Regulating Payment of Wages 4. Compulsory Conciliation and Arbitration of Wage Disputes 5. Setting up Wage Boards 6. Pay Commissions. Method # […]

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