PRICING OF PROFESSIONAL AND MANEGERIAL

EMPLOYEES

BY:MURLI

ABRENDRA
 DEFINITION AND CONCEPT
TERMS USED

 Wage
 Salary
 Earnings
 Nominal wage
 Real wage
 Take home salary
 Minimum wage
 Statutory minimum wage
OBJECTIVES OF WAGES AND
SALARY ADMINISTRATION

 To acquire qualified competent personnel

 To retain the present employees
 To ensure desired behaviour
 To keep labour and administrative costs
 To facilitate pay roll
 To pay according to the content and difficulty
 To simplify collective bargaining
 To promote organization
 PROCESS OF WAGE
DETERMINATION Wage
Job Legislation
Job Analysis
Analysis

Wage
Wage survey & Structure
Job Analysis of
Job Relevant
Description &
Evaluation Organizational Rules of
Specification
Problems Administration

Differential
Differential
Performance Employee
Standards Appraisal

Wage Payments
 FACTOR AFFECTING
DETERMINATION OF SALARY

 The organization's ability to pay

 Supply and demand of labor
 The prevailing market rate
 The cost of living
 Productivity
 Trade union’s bargaining power
 Job requirements
 Managerial attitudes and
 Psychological and sociological factors
 Levels of skills available in the market
 GOVERNMENT AND BANK EMPLOYEES ASSOCIATION HAS
AGREED ON REVISED OF PAY SCALE

Class Present pay scale New pay scale

High class officer 26620-38900 31278-45707

Class 1 officer 20480-26620 24064-31278

Class 2 officer 10000-22800 11750-26790

Assistant grade 4410-16570 5181-19469

D Group 4060-9180 4770-10786

 COMPONENTS OF SALARY
Other Taxable Income

PF

Food
Basic salary
HRA
Medicals
Medicals
Basic salary
Food
PF
Other Taxable Income

HRA