Job Evaluation - Definition - Traditional and new Techniques - Performance Appraisal -basic concepts - performance standard - Appraisal methods.
UNIT-II
Compensation - Definition - classification - types - incentives - fringe benefits.
UNIT-III
Theories of wages - wage structure - wage fixation - wage payment - salary administration.
UNIT-IV
Rewards for sales personnel - pay - commission - pay and commission - performance based pay system - incentives - Executives compensation plan and packages.
UNIT-V
Wage Boards - Pay Commissions - Compensation Management in Multi-National organisations.
REFERENCES
1. Richard.I. Henderson: COMPENSATION MANAGEMENT IN A KNOWLEDGE BASED WORLD - Prentice-Hall.
2. Richard Thrope & Gill Homen : STRATEGIC REWARD SYSTEMS - Prentice-Hall.
3. Thomas.P.Plannery, David.A.Hofrichter & Paul.E.Platten: PEOPLE, PERFOMANCE & PAY - Free Press.
4. Michael Armstrong & Helen Murlis: HAND BOOK OF REWARD MANAGEMENT – Crust Publishing House.
5. Joseph.J. Martocchio: STRATEGIC COMPENSATION - A HUMAN RESOURCE MANAGEMENT APPROACH - Prentice-Hall.
6. Edwarde.E. Lawler III : REWARDING EXCELLENCE (Pay Strategies for the New Economy) – Jossey -Bass.
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1). Wages and Salaries determination - Difference between salary and wages - Basis for compensation fixation - Preparation of Pay Roll
2. Components of wages - Basic Wages - Overtime Wages - Dearness Allowance - Basis for calculation - Time Rate Wages and Efficiency Based Wages - Incentive Schemes - Individual Bonus Schemes - Halsey, Halsey Weir, Rowan - Group Bonus Schemes - Effect of various labour laws on wages
3. Components of salary - Effect of various industrial laws on salary
4. Other Benefits - Subsidized Transport - Subsidized food in canteen
5. Non-monetary Incentives
6. Calculation of Income Tax implications while calculating the income of an individual - Cost to the Company - Valuation of Perquisites - Taxability of various components of salary and wages like Allowances, Gratuity, Leave Encashment, Receipts on Voluntary Retirement Scheme, Leave Travel Assistance, Medical Reimbursement, Employees' Stock Option Scheme - Fixation of Tax Liability - Tax deduction at source - Deductions and Tax Rebates to be considered while deciding tax deducted at source - Tax Deduction Certificates
Books Recommended
1. Personnel Management - C.B.Mamoria
2. Managing Human Resources - R.S.Dwiwedi
3. Human Resource Management - B.P.Michael
4. Human Resource Management - Dr.P.C.Pardeshi
5. Income Tax - Vinod Singhania
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