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Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
Nisha Sharma posted an Question
May 19, 2021 • 22:30 pm
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30 points
30 points
- UGC NET
- Commerce
Please xplain me different types of wages
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Priya gulani
Piece Wages: Piece wages are the wages paid according to the work done by the worker. To calculate the piece wages, the number of units produced by the worker are taken into consideration. 2. Time Wages: If the labourer is paid for his services according to time, it is called as time wages. For example, if the labour is paid Rs. 35 per day, it will be termed as time wage 3 Cash wages Cash wages refer to the wages paid to the labour in terms of money. The salary paid to a worker is an instance of cash wages. 4. Wages in Kind: When the labourer is paid in terms of goods rather than cash, is called the wage in kind. These types of wages are popular in rural areas. 5. Contract Wages: Under this type, the wages are fixed in the beginning for complete work. For instance, if a contractor is told that he will be paid Rs. 25,000 for the construction of building, it will be termed as contract wages.
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Priya gulani
Money Wages or Nominal Wages: The total amount of money received by the labourer in the process of production is called the money wages or nominal wages. B. Real Wages: Real wages mean translation of money wages into real terms or in terms of commodities and services that money can buy. They refer to the advantages of worker’s occupation, i.e. the amount of the necessaries, comforts and luxuries of life which the worker can command in return for his services.
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Nisha sharma
wages
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Rucha rajesh shingvekar![best-answer]()
1. Time wages This is the oldest method of wage payment. Under this system, the wages are paid according to the time spent by workers irrespective of his output of work done. ... The wage rates are fixed for an hour, a day, week, a month or even a year. 2.Piece wages Under piece system of payment, wages are based on output and not on time. There is no consideration for time taken in completing a task. A fixed rate is paid for each unit produced, job completed or an operation performed. Workers are not guaranteed minimum wages under this system of wage payment. 3.Cash wages Cash wages are any pay or compensation that comes in the form of spendable currency or other money. Cash wages normally make up the bulk of employment compensation for most workers, and are generally taxable. 4. Wages in kind Wages and salaries in kind consist of remuneration in the form of goods and/or services that are not necessary for work and can be used by employees in their own time, and at their own discretion, for the satisfaction of their own needs or wants or those of other members of their households. 5.Contract Wages: Under this type, the wages are fixed in the beginning for complete work. For instance, if a contractor is told that he will be paid Rs. 25,000 for the construction of building, it will be termed as contract wages.