This document summarizes compensation planning and wages in India. It defines compensation and wages, outlines the objectives of compensation planning such as attracting and retaining talent, and ensuring equity. It also identifies the key components of wages/salary, which include basic wage/salary, dearness allowance, perquisites, fringe benefits, and other allowances. Finally, it discusses minimum wages in India and different theories of remuneration.

1. Presented By:
Naveen Pandey
MBA (IB)- 1st Sem
Class Roll No. 21

2.  Wages- Meaning &Types
 Objectives of compensation Planning
 Components of wages/ salary
 Theories of Remuneration
 Guiding Principles
 Horror Stories in India
 MinimumWages in India

3. Compensation is what employee receives for
their contribution to the organization. It can
be in the form of:
 Wages
 Salary
Wages is paid to the assembly line workers or
workers at operational level. It is paid
hourly/daily/weekly.

4.  MinimumWages
 LivingWages
 FairWages

5.  AttractingTalent
 RetainTalent
 Ensure Equity
 New and desired behavior
 Control Costs
 Comply with legal rules
 Ease of operation
Internal
External
Individual

6.  BasicWage/ Salary
 Dearness Allowance
 Perquisites
 Fringe Benefits
 OtherAllowances