Lesson 4 Wage and Salary Administration
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Wage and Salary Administration
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Lesson 4 Wage and Salary Administration
- 1. Wage and Salary Administration Presented by DR. RHEA LOWELLA S. FISER,RPsy,RPm,CSIOP
- 3. Objectives 3 By the end of this lesson, you will be able to: Help prevent your company from exposure to claims of discriminatory pay practices Determine if your organization is compliant with ethical principles as well as the basic labor rulings concerning wage, salaries and compensation Practice how to compute manually the daily rate, overtime and mandatory benefits such as 13th month pay, separation pay, etc.
- 4. 4 What is Wage and Salary Administration Refers to establishment and implementation of sound policies and practices of employee compensation
- 5. 5 Why we are doing Wage and Salary Administration? 1.To attract talents and retain good employees 2.To avoid legal impediments 3.To ensure business continuity and to be a good corporate citizen
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- 7. FR Presented by: DR RHEA LOWELLA S. FISER 7
- 8. FR Compensation Objectives Add a footer 8
- 9. FR Add a footer 9 Employees will believe their pay is equitable when they perceive the following circumstances:
- 10. FR Add a footer 10 Employees will believe their pay is equitable when they perceive the following circumstances:
- 11. FR Employees will believe their pay is equitable when they perceive the following circumstances: Add a footer 11
- 12. FR 3 Components of Compensation Add a footer 12
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- 33. Add a footer 33 Get ready for computation. Prepare your calculator, pen and paper
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- 37. Add a footer 37 B. 624
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- 39. Add a footer 39 A. 608
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- 44. Add a footer 44 C. 243.75
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- 46. Add a footer 46 C. 353.60
- 47. Add a footer 47 Ordinary Day Shift Let say the employee hourly rate is Php 57.00 per hour and working from 10pm to 6am To determine the employee Night Differential pay: Ordinary Day Night Differential= (Hourly rate x 10% x 8 hours) Php 45.60=(Php 57.00x0.10x 8 hours
- 48. Add a footer 48 Rest Day Shift Let say the employee hourly rate is Php 57.00 per hour and working from 10pm to 6am To determine the employee Night Differential pay: Rest Day Night Differential= (Hourly rate x 130% x 10% x 8 hours) Php 59.28 =(Php 57.00 x 1.3 x 0.10x 8 hours)
- 49. Add a footer 49 Special Holiday Night Shift Let say the employee hourly rate is Php 57.00 per hour and working from 10pm to 6am To determine the employee Night Differential pay: Special Holiday Night Differential= (Hourly rate x 130% x 10% x 8 hours) Php 59.28 =(Php 57.00 x 1.3 x 0.10x 8 hours)
- 50. Add a footer 50 Special Holiday and at the same time Rest Day Night Shift Let say the employee hourly rate is Php 57.00 per hour and working from 10pm to 6am To determine the employee Night Differential pay: Special Holiday Night Differential= (Hourly rate x 150% x 10% x 8 hours) Php 68.40 =(Php 57.00 x 1.3 x 0.10x 8 hours)
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- 57. Add a footer 57 Computation: 17,000x12x365=558.90 558.90 X130=726.58 B. 726.58
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- 70. Add a footer 70 C. 22,916.66
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- 76. Add a footer 76 Php80,000.00
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- 92. DR RHEA LOWELLA S. FISER 09951100143 rheasantillan@live.com Thank You
Editor's Notes
- One of the most important functions of HR is the payment of proper salaries and wages to all employees. The pay of the employees received from the employer is the very reasons for their being in the job. The pay provides them as an incentive to do their job well and the rate of pay indicates the status in the company. It is our role as HR professionals to make sure that all employee paid accurately and on time. It is our duty to make sure that our organization is complaint with the law with regards to administering wages, salaries and compensation. This covers the very important functions of HR.
- Job evaluation Wage surveys Profit sharing Control company cost Any other company item