This is about exact short topics of the chapter for quick learning

1. Chapter-6
Wages and Industrial
Relations

2. Group G-5
ID NO:
1303019
1303049
1303051
1303052
1303053

3. Introduction
The determination of an employee’s wage in the organized sector
is governed by a variety of factors, some controlled by the
employer and some by the constraints imposed upon him from
outside. The settlement forms the basis for the employer-
employee relationship, especially with regard to wages.

4. Wage components
The major components of an employee’s wage
are
1.Basis wage: Basic wage is a stable wage paid
over a period of time which could be on a
monthly, weekly or daily basis. This wage is the
normal rate for a given level of output.
2.Dearness allowances: The DA was to protect
the wage earners real wage by neutralizing the
increased cost of living . Dearness allowance is
part of a person’s salary. DA is calculated as a
percent of the basic salary. This amount is then
added to the basic salary along with house rent
allowance to get the total salary.

5. Cont.
3.Allowance ,including overtime : Overtime is the amount of time
someone works beyond normal working hours.The rates are normally
1.5 times the normal wage and one holiday it is twice the normal
wage.
4.Bonus: A bonus is an additional compensation given to an employee
above his/her normal wage. Bonus means extra payment. The
payment of bonus is an annual issue, like a religious festival and etc..

6. Other components of workers pay packet:
The perquisites are:
1.Compensatory city allowance
2.House rent allowance
3.Leave travel concession
4.Medical benefits
5.Provident fund
6.Gratuity
7.Pension fund
8.Education allowances

7. Methods of Wage Fixation
Legislation: Is a law which has been enacted by a
legislature or other governing body of making it.
Wages Boards: This is another method of Fixing wages.
Job Evaluation: The introduction of scientfic techniques
facilities an analysis of the skill and training required for a job.

8. Wages Differentials
• Regional Differential: A particular geographic area or
region may have one set of wages as compares to another.
• Inter-industry Differentials: There are variations,
between several types of industries. Not only are therte
variations in terms of the average wages between one
industry and another but also between similar skins from
one industry to another.

9. Cont.
• Gender Differentials: Women workers have
traditionally been paid less as compared to
men workers. However, there are exceptions
like the packagung industry where their rate
earnings has been higher.
• Wage Survey: Thus ia a additional data-gathering
mechanism. Since comparisons are usually made by
employees , managements and Unions , these
surveys are useful for setting wage rates, in
rataining employees and in providing information
about wages levels of competing firms in the area.

10. Cont.
• Wages policy: In developing economy like Bangladesh, a balance
has to be struck between the objectives of economic development
and the pricipal of democratic system in the formulation of a
national wagw policy. The varied pulls and demands make it
complex exersize.

11. Some Framework for Wage
Payments
1. Payments of wages act, 1936 and Payment of Wages
(Amendment), 2005
2. Minimum Wages Act, 1948
3. Payment of Bonus Act, 1948
4. Equal Remuneration Act, 1976

12. Provisions
1. Fixation of minimum wages
2. Procedure for fixing and revising minimum wages
3. Advisory Board
4. Composition of committes

13. Inflation And Industrial Relations
Inflation implies a subtantial rise in the general level of prices of
goods and services. In other words, it represents a decrease in
the purchasing power of money.

14. Conclution
The main objective of a wage programe is to attract and retain a
component and qualified workforce.