wage &salary Administration.

Name-pallavi suresh khot Roll no-13MBA26

Definition Wage wage &salary are often discussed in loose sense, as they are used interchangeably. But Indian labour organisation (ILO). Defined the term remuneration paid by the employer for the services of hourly ,daily , weekly and for nightly employees . It also means that remuneration paid to production &maintenance or blue collar employees . Salary The term salary is defined as the remuneration paid to the clerical & managerial personel employed on monthly or annual basis.

Objectives of wage &salary administration

To acquire qualified competent personnel. To retain the present employees. To secure internal & external equity. To ensure desired behaviour. To keep labour &administration costs. To protect in public as progressive employers. To pay according to the content & difficulty. To simplify collective bargaining . To promote organisation feasibility.

Factors affecting wage & salary Remunretion in comparable industries Firms ability to pay. Productivity. Union pressure & strategies . Government legislation.