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Definition: The Payment of Bonus Act, 1965, is an Indian law that mandates the payment of bonuses to employees based on […]

Definition: The Workmen’s Compensation Act, 1923, is an Indian legislation designed to provide financial compensation to employees (or their dependents) in

Definition: The Minimum Wages Act, 1948, is an Indian legislation that mandates the minimum rates of wages that must be paid

Each of these components plays a crucial role in designing a comprehensive and competitive compensation package that attracts, retains, and

Job evaluation is a systematic process used to determine the relative worth of jobs within an organization. It involves assessing

⭐Factors affecting Wages & Salary 1. Market Conditions Supply and Demand: 2. Economic Conditions Business Cycle: 3. Industry and Sector

⭐Wage Policy Definition: Wage policy refers to the strategies and guidelines established by governments, employers, and sometimes labor unions to regulate

⭐Employee Compensation Employee Compensation refers to the total package of financial and non-financial rewards given to employees in exchange for

Promotion Definition: Promotion refers to advancing an employee to a higher position within the organization, often accompanied by increased responsibilities, higher

Performance Appraisal: Summary and Key Points Definition: Performance appraisal is a systematic process used by organizations to assess and evaluate employees’