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A) MONETARY BENEFITS :
1. Basic wages
2. Dearness Allowance
3. Employer’s Contribution to Provident Fund
4. Profit bonus
5. Old age Pension
6. Production bonus
7. Retirement gratuity
B. FRINGE BENEFITS OR LABOUR RELATED COSTS
:
1. Subsidised Food
2. Subsidised Housing
3. Subsidised Education
4. Medical Facilities
5. Holidays Pay
6. Recreational Facilities
It is an important objective of management.
Since the orders are certain about their wages they may
consume more time for producing the same quantity. It
means a higher level of labour cost and a higher level of
overhead
The quality of work is more important than quantity