Tag Archives | Workers

Theories of Wages

Payment of wages differs from industry to industry and also it differs from country to country. The payment of wages is payment by time, payment by result, and also payment by piece rate, etc. Wages are fixed as a result of individual bargaining, collective bargaining or by public or State regulation. How wages are determined has been the subject of [...]

By |2020-05-16T17:14:26+00:00May 16, 2020|Wages|Comments Off on Theories of Wages

What is Trade Union?

Over the years, trade unions have emerged as an essential feature of industry in every country. The main reason for their emergence is the failing system and capitalistic society. In all early stage of industrialisation, there was lack of legal protection for workers. The workers felt exploited at the hand of the employers. They joined hands to protect their interest [...]

By |2019-12-09T08:21:16+00:00December 9, 2019|Trade Union|Comments Off on What is Trade Union?

Wage Payment Systems: 4 Major Systems

Wages, in the widest sense mean, any economic compensation paid by the employer under some contract to his workers for the services rendered by them. Wages, therefore, include family allowance, relief pay, financial support and other benefits. But, in the narrower sense wages are the price paid for the services of labour in the process of production and include only [...]

By |2019-11-11T08:56:29+00:00November 11, 2019|Cost Accounting|Comments Off on Wage Payment Systems: 4 Major Systems
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