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noun. : the amount of base wage paid to a worker per unit of time (as per hour or day) or per unit of output if on piecework.
The methods are: 1. Time Rate System 2. Piece Rate System 3. Incentive Wage System....Merits of Time Rate System: Simplicity: ... Certainty of the Amount of the Remuneration: ... High Quality of Production: ... Proper Utilisation of the Factors of Production:
Normal rate of pay will be the "actual rate" of pay as defined in the relevant award, including over-award payment where applicable. Normal rate of pay wherever it appears in this contract shall mean the hourly rate of pay received during the regular 40 hour work week.
Wages and salaries are the payment for work agreed between an employee and his or her employer under the contract of employment in the private sector and for contractual agents in the public service, or employment for civil servants.
Wage labour (also wage labor in American English), usually referred to as paid work, paid employment, or paid labour, refers to the socioeconomic relationship between a worker and an employer in which the worker sells their labour power under a formal or informal employment contract.
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People also ask

To get your hourly rate, divide the income you made in that period by how many hours you worked in that time. If you're salaried, figure out roughly how many hours you work in a year, then divide your yearly salary by that number.
Wage plan codes are letter indicators used by the Employment. Development Department (EDD) automated data systems to. determine whether the total subject wages reported for an. employee can be used for Unemployment Insurance (UI) and/ or Disability Insurance (DI) benefit claims.
Wage labour is the mode of production in which the labourer sells their capacity to work as a commodity. The pre-condition for wage labour is a class of people who have no other way of living, and a class of people who own the means of production as their Private Property.
5 Wage Types and How They Affect Your Employees Minimum Wage. Minimum wage is the most widely recognized term in the realm of employee compensation. ... Living Wage. Living wage is the lowest wage at which the wage earner and his/her family can afford the most basic costs of living. ... Prevailing Wage. ... Tipped Wage. ... Fair Wage.
A collective agreement is a written contract between the employer and a union that outlines many of the terms and conditions of employment for employees in a bargaining unit. The terms and conditions are reached through collective bargaining between the employer and the union.

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