Wages can broadly be divided into three categories—Living Wages, Minimum Wages and Fair Wages. Determination of wage rate is a basic problem of an organisation. This question is an important question from all points of view— economic, social, political, and moral. The central point of all the labour problems in an organisation is the wages and salaries. This question determines [...]
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 definite sum is paid for [...]
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 # 1. Prescribing Minimum Rates of [...]