- It is also known as Wages and Salary Administration.
- Under this administration of employee compensation is done.
- It involves the formulation and implementation of policies and programs relating to wages, salaries, and other forms of employee compensation.
- It includes job evaluation, wages survey, development and maintenance of wage structure rules for administration, profit sharing, and other incentives and control of payroll costs.
- Objective- To establish and maintain an equitable wage and salary structure and an equitable labor cost structure.
Base Compensation – It means wages and salaries paid to employees.
Supplementary Compensation- It means Fringe Benefits paid in addition to wages and salaries.
- Issues in Compensation Management
- Components of Compensation.
- Objectives of Wage and Salary Administration.
- Principles of Wage and Salary Administration.
- Essentials of Sound of Wage and Salary Structure.
- Factors Affecting Compensation.
- Methods of Wage Payment
- Process of Wage Determination.
Tag:11commerce, 11economics, 11thcommerce, 12accounts, 12commerce, 12economics, BComAccounts, CAFinalAccounts, CAfoundation, CAfoundationAccounts, CAfoundationEconomics, CAfoundationLaw, CAHARSHITA, CAInterAccounts, commerceachiever, commerceoptional, Compensation Management, Components of Compensation, Economics, Essentials of Sound of Wage and Salary Structure, Factors Affecting Compensation, Gantt's Task and Bonus Plan, gLOSSARY OF hrm, HR Glossary, incometax, Individual Incentive Plan, Individual wage incentive output based plan, Issues in Compensation Management, mba hr, mba hr notes, Methods of Wage Payment, Objectives of Wage and Salary Administration, Principles of Wage and Salary Administration, Process of Wage Determination, Scanlon Plan, tax, Taylor's Differential Piece Rate Plan, UGCNETCommerceOptional, UPSC Commerce Optional Previous Year Papers, UPSCcommerceOptional, UPSCoptional, Wage and Salary Administration