In a wage system where an employee is paid according to output is called ________.

time rate system

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piece rate system

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time cum bonus system

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piece cum bonus rate system

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Solution

The correct option is A piece rate system
A piece rate system is wherein the worker is paid a amount equal to the number of units he/she produces. For example if a worker is paid Rs.20 per unit and the worker produces 10 units. The worker will get paid a total of Rs.200 for producing the 10 units.

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Similar questions

Q. In a wage system where an employee is paid a fixed amount irrespective of output is called ______.

Q. The term 'remuneration' means compensation or pay, but it has a broader meaning than pay because it can include not just basic salary or bonuses but commissions and other payments or benefits paid under the terms of an employment contract as well. It is the reward for employment in the form of pay, salary, or wage, including allowances, benefits (such as company car, medical plan, and pension plan), bonuses, cash incentives, and monetary value of the non-cash incentives.

Which of the following are the correct methods of remuneration in the factories?

(i) Time-rate system
(ii) Amount-rate system
(iii) Piece-rate system
(iv) Absence-rate system

[1 mark]

Q. Under piece rate system of wage payment, payment is made according to the __________.

Q. A factory announces a bonus of

10

% to its employees. If an employee gets

R s 10, 780

, find his actual salary

A company has 5 sectors which are paid according to the chart shown below. Which of the sectors is the highest paid sector? If the company has to give bonus to its employees in a uniform way will the pie chart change?

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In a wage system where an employee is paid according to output is called ________.

The correct option is A piece rate systemA piece rate system is wherein the worker is paid a amount equal to the number of units he/she produces. For example if a worker is paid Rs.20 per unit and the worker produces 10 units. The worker will get paid a total of Rs.200 for producing the 10 units.

The correct option is A piece rate system
A piece rate system is wherein the worker is paid a amount equal to the number of units he/she produces. For example if a worker is paid Rs.20 per unit and the worker produces 10 units. The worker will get paid a total of Rs.200 for producing the 10 units.