Compensation, Wages Compensation, Wages & & Benefit Administration Benefit Administration Unit 3 Unit 3 NEW AGE NEW AGE Human Resource Management Human Resource Management and and Impact of Employment Impact of Employment Legislations in Legislations in India India
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Compensation, Wages & Benefit Administration Compensation, Wages & Benefit Administration Unit 3 NEW AGE Human Resource Management and Impact of Employment.
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Compensation, WagesCompensation, Wages
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Benefit AdministrationBenefit Administration
Compensation, WagesCompensation, Wages
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Benefit AdministrationBenefit Administration
Unit 3Unit 3
NEW AGE NEW AGE
Human Resource Management Human Resource Management
andand
Impact of Employment Legislations in Impact of Employment Legislations in
IndiaIndia
NEW AGE NEW AGE
Human Resource Management Human Resource Management
andand
Impact of Employment Legislations in Impact of Employment Legislations in
IndiaIndia
Labour Laws on Wages & Extra Hours of workLabour Laws on Wages & Extra Hours of workLabour Laws on Wages & Extra Hours of workLabour Laws on Wages & Extra Hours of work
Child labor (under 14 years old) is prohibitedChild labor (under 14 years old) is prohibitedChild labor (under 14 years old) is prohibitedChild labor (under 14 years old) is prohibited
Requires overtime payments for non-exempt employeesRequires overtime payments for non-exempt employeesRequires overtime payments for non-exempt employeesRequires overtime payments for non-exempt employees
Exempts highly-paid Managerial Staff & over time Exempts highly-paid Managerial Staff & over time Exempts highly-paid Managerial Staff & over time Exempts highly-paid Managerial Staff & over time
Requires overtime Requires overtime pay for hours over 48 hourspay for hours over 48 hoursRequires overtime Requires overtime pay for hours over 48 hourspay for hours over 48 hours
Requires compensatory time at overtime – twice Requires compensatory time at overtime – twice Requires compensatory time at overtime – twice Requires compensatory time at overtime – twice
Compensation Systems Compensation Systems Compensation Systems Compensation Systems
Objectives of an Effective Compensation System:
Legal compliance with all appropriate laws and regulations
Cost effectiveness for the organization
Internal, external, and individual equity for employees
Legal classification of Pay components Legal classification of Pay components Legal classification of Pay components Legal classification of Pay components
Compensation – Applicable Legislations in India Compensation – Applicable Legislations in India Compensation – Applicable Legislations in India Compensation – Applicable Legislations in India
Minimum Wages ActMinimum Wages ActThe Payment of Wages ActThe Payment of Wages ActEqual Remuneration ActEqual Remuneration ActWorkman Compensation ActWorkman Compensation ActEPF Act , ESI Corporation ActEPF Act , ESI Corporation ActThe Payment of Bonus ActThe Payment of Bonus ActThe Maternity Benefit ActThe Maternity Benefit ActThe Payment of Gratuity Act The Payment of Gratuity Act The Tamil Nadu Subsistence Allowance ActThe Tamil Nadu Subsistence Allowance Act The Apprentice ActThe Apprentice Act