Classify Wage Pdf For Free

A wage is monetary compensation (or remuneration, personnel expenses, labor) paid by an employer to an employee in exchange for work done.

Wages refer to the payment made to an employee for a specific period, mostly hourly or daily. It is closely associated with laborers engaged in production rather than clerks or executives, who are paid salaries. It is fixed, and the payment is mostly made immediately after the work is done.

What is a Wage? A wage is the remuneration paid to an employee, usually on an hourly, daily, or piece rate basis. Wages are one of the primary expenses of an organization, comprising an especially high proportion of total expenses in service-oriented firms.

Wage levels are divided by low pay and high pay. The incidence of low pay refers to the share of workers earning less than two-thirds of median earnings. The incidence of high pay refers to the share of workers earning more than one-and-a-half time median earnings.

Reasons wages vary Credentials. ... Experience and skill. ... Industry or employer. ... Job tasks. ... Geographic location. ... Success and performance.

Wages definition refers to assigning of monetary value for labor services. Wages are also known as the price of labor. Wages can be based on an hourly, daily, or weekly basis. In its simplest form, wages are the hourly cost to employ a certain worker.

(a) Section 3(m) of the Act defines the term ?wage? to include the ?reasonable cost?, as determined by the Secretary of Labor, to an employer of furnishing any employee with board, lodging, or other facilities, if such board, lodging, or other facilities are customarily furnished by the employer to his employees.