PRICING OF PROFESSIONAL AND MANEGERIAL EMPLOYEES

BY:MURLI ABRENDRA

D EFINITION AND CONCEPT T ERMS USED

Wage Salary Earnings Nominal wage Real wage Take home salary Minimum wage Statutory minimum wage

O BJECTIVES 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

P ROCESS OF WAGE
DETERMINATION
Job Analysis Wage Legislation Wage Structure

Job Description & Specification

Job Evaluation

Wage survey & Analysis of Relevant Organizational Problems

Rules of Administration

Performance Standards

Differential Employee 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

G OVERNMENT 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
PF
Food Medicals
Other Taxable Income

Basic salary

Basic salary HRA Medicals Food PF Other Taxable Income

HRA