Tag Archives | Wage Payment

Methods of Wage Payment

Read this article to learn about - 1. Time wage system 2. Piece wage system 3. Advantages of Time wage system 3. Disadvantages of Time wage system 4. Advantages of Piece wage system 5. Disadvantages of Piece wage system 6. Formula for the calculations of Earnings. 7. Pros and cons and field of application of the various methods of wages [...]

By |2021-04-28T06:19:18+00:00May 7, 2021|Cost Accounting|Comments Off on Methods of Wage Payment

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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