PRESENTED BY GROUP 5

EKANSH GARG- 20
GAURAV CHAUDHARY- 21
ISHITA VERMA- 23
JASHAN PAL SINGH- 24

Q1) WHICH OF THE FOLLOWING IS NOT A

FORM OF COMPENSATION
A) Wages

B) Paid vacations
C) Public Appraisal
D) Retirement benefits

(A)BASIC PAY
(B)CONVEYANCE ALLOWANCE
(C)INCENTIVES

Q3) THE PRIMARY PART OF PAY PACKAGE

WHICH IS GENERALLY DETERMINED
THROUGH JOB EVALUATION IS CALLED?
(A) Allowances
(B) Basic Pay
(C) Incentives
(D) Fringe Benefits

Q4) PROVIDENT FUND, GRATUITY,

ENCASHMENT OF EARNED LEAVE, LTC,
MEDICAL AID, INTEREST FREE LOANS,
STOCK OPTIONS ETC. ARE THE TYPES
OF?
(A)Perquisites
(B) Allowances
(C) Incentives
(D) Basic pay

Q5) ANSWER WHETHER IT IS BASE

COMPENSATION OR SUPPLEMENTARY
COMPENSATION

________________ denotes payments

to workers in form of wages and
salaries.
BASE COMPENSATION

_____________ are offered in form of

employee benefits & services

SUPPLEMENTARY COMPENSATION

____________ denotes payments to

workers in form of wages and
salaries

BASE COMPENSATION

___________ payments are made

to increase efficiency of employees
and to retain them in organization
for long-term
SUPPLEMENTARY COMPENSATION

Q6) IDENTIFY THE COMPENSATION

PHILOSOPHIES
No raise on basis of job tenure
No raise for poor performing employees
Market-adjusted pay structures
Pay linked to performance targets

ANS) PERFORMANCE PHILOSOPHY

Seniority based compensation

Across-the-board raises
Pay scale increase annually
Holiday bonuses given to all employees

ENTITLEMENT PHILOSOPHY

Q7) MENTION ANY THREE OBJECTIVES

OF WAGE AND SALARY ADMINISTRATION
1.To establish a fair and equitable
remuneration
2.To attract competent personnel
3.To retain the present employees
4.To improve productivity
5.To control costs
6.To improve union management relations
7.To improve public image of the company

WHAT ARE THE METHODS OF WAGE

PAYMENTS?
1) PIECE WAGE SYSTEM
2) TIME WAGE SYSTEM

DEFINE TIME WAGE SYSTEM

Wages are paid on the basis of time spent on the job
irrespective of the amount of work done.
The unit of time may de a day, a week, a fortnight or a
month.

DEFINE PIECE WAGE SYSTEM

Wages are based on the amount of work done or output
of worker. A specific rate of wage is paid per piece.
Greater is number of pieces produced by a worker,
higher is his/her remuneration.
It focuses on payment by results.

Q8) WHICH WAGE SYSTEM IS

APPLICABLE IN FOLLOWING
CONDITIONS?
Non-measurable units of output and mental
work involved
No clear cut relation between effort and output

Time Wage System

Q9) CONT.
Work done by an individual worker can be
measured accurately
Quantity of output depends directly upon the
skills and efforts of the worker
Flow of work is regular and interruptions are
minimum
Quality and workmanship are not very important
Piece Wage System

Q10) CONT.
Delays in work are frequent and beyond
employees control
Quality of work is very important
Machinery and material used are sophisticated
and expensive
Time Wage System

Q11) CONT.
Work is highly varied in nature and
performance standards cannot be established
Workers are new and learning on the job
Collective efforts of group are essential for
completing the job
Time Wage System

Q12) CONT.

Quality and workmanship are not very

important
Methods of production are standardized
and the job is of repetitive nature
When lesser supervision is possible
Piece Wage System

Q10) MENTION ANY THREE

BENEFITS OF INCENTIVE
1. Work study done before introducing wage
COMPENSATION

incentive
plan helps in improvements in methods, work flow etc.

2. Employees are encouraged to become more innovative.

3. Employees need lesser supervision.
4. It helps in maintaining good human relations in
organization.
5. It increases workers morale.

WHAT ARE THE TWO BASIS OF

INDIVIDUAL INCENTIVES PLAN?
1)TIME
2)PRODUCTIVITY

HALSEY PLAN AND ROWAN PLAN ARE

BASED ON WHICH INDIVIDUAL
1)TIME
INCENTIVE PLAN
2)PRODUCTIVITY

TIME

MERRICK PLAN AND TAYLOR PLAN ARE

BASED ON WHICH INDIVIDUAL
1)TIME
INCENTIVE PLAN?
2)PRODUCTIVITY

PRODUCTIVITY

WHICH INDIVIDUAL INCENTIVE PLAN IS

TIME BASED?
1)GANTT PLAN
2)BEDEAUX PLAN

BEDEAUX PLAN

WHAT ARE THE EMERGING CONCEPTS IN

INCENTIVE PLANNING?
1)PROFIT SHARING
2) LABOUR CO-PARTNERSHIP

WHAT ARE THE FRAMEWORK CHOICES

FOR PROFIT-SHARING PLAN?
1)FUNDING CHOICES
2)ALLOCATION CHOICES

WHAT ARE THE BENEFITS OF INCENTIVE

COMPENSATION
1) Employees are encouraged to become more innovative.
2) Employees need lesser supervision.
3) It helps in maintaining good human relations in organization.
4) It increases workers morale.

WHICH OF THE FOLLOWING IS NOT A

FUNCTION OF ESOPS?
1) Eligibility may be performance or salary level or length
of service or a combination of these
2) Employee stock option plan is voluntary in nature
3)

It offers attraction of extra payment for increased

productivity

4) It makes the employee part owner of the company

Ans3:- It offers attraction of extra payment for increased

productivity

WHICH OF THESE ARE LABOUR-CO

PARTNERSHIP CONCEPTS IN INCENTIVE
1)It is an extension of profit-sharing
PLANS?
2) It is voluntary agreement between the employer &
employees

3) The scheme is generally made available to employees

with some minimum years of experience
4) Employees are made partners of enterprise and are
allowed to participate in the management and control of
undertaking

1)It is an extension of profit-sharing

4) Employees are made partners of enterprise and are allowed to participate in
the management and control of undertaking

WHICH OF THESE ARE PROFIT- SHARING

CONCEPTS IN INCENTIVE PLANS?

1) The payment may be in form of cash, companys shares

or deposit in PF account.
2) Workers participate only in companys profits and not
losses
3) Workers share in company profits is paid in form shares
by which they become entitled to participate in decisionmaking process
4) It is an extension of profit-sharing

1)The payment may be in form of cash, companys shares

or deposit in PF account.
2) Workers participate only in companys profits and not
losses

WHAT ARE THE COMPONENTS OF

COMPENSATION SYSTEM DESIGN ISSUES?
1)Compensation fairness and equity
2) Market competitiveness and compensation
3) Competency based pay
4) Individual v/s Team rewards
5) Compensating expatriates

FILL THE BOXES

A) Competency based pay

B) Individual v/s Team rewards
C) Lead the market
D) External &equity