For more Notes, Presentations,

Project Reports visit

a2zmba.blogspot.com
hrmba.blogspot.com
mbafin.blogspot.com
 Is
Compensation =
My Inputs and Contributions
 Factors influencing wage and salary
structure and administration
• The organizations ability to pay;
• Supply and demand of labour;
• The prevailing market rate;
• The cost of living;
• Living wage;
• Productivity;
Factors influencing wage and salary
structure and administration
• Trade unions bargaining power
• Job requirements
• Managerial attitudes
• Psychological and sociological factors
• Levels of skills available in the market
 Administration of Wages and
Salaries
Handled by:-
– Personnel department
– Or committee who’s major functions are
• Approval to management on job evaluation methods
• Review of basic wage and salary structure
• Help in the formulation of wage policies
• Co-ordination of relative departmental
• Review of budget estimates
 PRINCIPLES OF WAGES AND
SALARY ADMINISTRATION
• Pays varies as per skills required
• General level of wages should be
proportionate with existing labour market
rates
• Equal pay for equal work
 CASE STUDY

MTB PRIVATE LIMITED

 MTB PRIVATE LIMITED
Facts File:
• Employee strength=400
• 2nd largest cloth manufacturing company in
Nashik.
• Contractual and Permanent type of labour
 HORROR STORIES IN INDIA
• BHARAT OPTHALMIC GLASSES
• National Textile Corporation
• Hindustan Fertilizer Corporation Ltd.
Haldia
• Heavy Engineering Corporation
 Wage Policy in India
• Minimum Wage
• Fair wage
• Living wage
 State regulation of wages
• Minimum wages act, 1948
• Payment of Wages Act, 1936
• For more Notes, Presentations, Project Reports
visit
• a2zmba.blogspot.com
• hrmba.blogspot.com
• mbafin.blogspot.com