Classify Wage Pdf For Free

Pay structure in India generally consists of the following components. 1- Basic wage/salary 2-Dearness allowance (D.A.) and other allowances. 3- Bonus and other incentives. 4- Fringe benefits or perquisites.

1. : a payment usually of money for labor or services usually ing to a contract and on an hourly, daily, or piecework basis. often used in pl. 2. plural : the share of the national product attributable to labor as a factor in production.

"Wages" means all remuneration, earnings, allowances, tips and service. charges, however designated or calculated, payable to an employee in respect. of work done or work to be done.

There are three kinds of wages minimum wage, fair wage & living wage.

(h) "wages" means all remuneration, capable of being expressed in terms of. money, which would, if the terms of the contract of employment, express or. implied, were fulfilled, be payable to a person employed in respect of his.

Wages include, but are not limited to: Salaries, hourly pay, piece rate, or payments by the job.

(a) Section 3(m) of the Act defines the term ?wage? to include the ?reasonable cost?, as determined by the Secretary of Labor, to an employer of furnishing any employee with board, lodging, or other facilities, if such board, lodging, or other facilities are customarily furnished by the employer to his employees.

Wages definition refers to assigning of monetary value for labor services. Wages are also known as the price of labor. Wages can be based on an hourly, daily, or weekly basis. In its simplest form, wages are the hourly cost to employ a certain worker.

Reasons wages vary Credentials. ... Experience and skill. ... Industry or employer. ... Job tasks. ... Geographic location. ... Success and performance.

Wage levels are divided by low pay and high pay. The incidence of low pay refers to the share of workers earning less than two-thirds of median earnings. The incidence of high pay refers to the share of workers earning more than one-and-a-half time median earnings.