Factors Affecting Employee Salary

Provident fund = Retirement savings deducted from salary ESI = Health insurance deduction Professional tax = Tax levied by state government on professionals Wage differentials = Differences in wages based on various factors like skills and hazards

Bonus = Additional reward for performance HRA = Allowance for housing expenses DA = Compensation to offset inflation Gratuity = Retirement benefit based on tenure

Time rate system = Payment based on hours worked at a fixed rate Piece rate system = Payment based on units produced or tasks completed Salary system = Fixed monthly payment regardless of hours worked Commission system = Payment based on sales or revenue generated

<p>Occupational wage differentials = Differences in wages between different types of jobs Geographical wage differentials = Variations in wages based on location Gender wage differentials = Disparities in wages between men and women Inter-plant wage differentials = Wage differences between different plants or facilities</p> Signup and view all the answers

<p>Overtime funds = Extra pay for additional hours worked Medical = Healthcare benefits provided by the employer Additional tips = Extra income received from customers as appreciation Internet and mobile reimbursement = Compensation for work-related internet and phone expenses</p> Signup and view all the answers