Understanding Wages and Salary Administration
I want to learn about what exactly wages and salary administration means, what topics it covers, and what its importance is in our daily lives. I am an HR & admin executive in a construction company, and I want to understand how it will help me.
Regards,
From India, Thana
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I want to learn about what exactly wages and salary administration means, what topics it covers, and what its importance is in our daily lives. I am an HR & admin executive in a construction company, and I want to understand how it will help me.
Regards,
From India, Thana
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Wages and salary administration involve checking whether each laborer/employee is receiving their salary on time, ensuring everyone is receiving the correct salary, and managing the necessary adjustments and contributions for ESI, PF, etc. In a construction company, the process also varies depending on whether you have contractual employees or permanent ones.
Could you please provide more specific details about the exact issues you are facing regarding "salary and wage administration"? It is a broad concept, so clarity on your specific challenges would be beneficial.
Regards,
Amar
From India, Pune
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Could you please provide more specific details about the exact issues you are facing regarding "salary and wage administration"? It is a broad concept, so clarity on your specific challenges would be beneficial.
Regards,
Amar
From India, Pune
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Wage and salary administration includes the preparation of the wage roll as per the wage period (daily/weekly/monthly, etc.) and the salary statement every month while ensuring compliance with statutes like the Payment of Wages Act and Minimum Wages Act, and making remittances accordingly. It also includes an assessment of personnel costs to the company.
Importance of Wage & Salary Administration
Wage & Salary Administration is an essential part of the HR function in any organized setup. Due care must be taken to ensure that employees are paid their due and that statutory compliance is ensured. Any shortcomings in this regard could be disastrous both from the organizational point of view and in terms of statutory compliance.
Being in a highly competitive sector like Construction, the need for proper Wage & Salary Administration is twofold. If you have any further queries, please specify.
Regards, KK
From India, Bhopal
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Importance of Wage & Salary Administration
Wage & Salary Administration is an essential part of the HR function in any organized setup. Due care must be taken to ensure that employees are paid their due and that statutory compliance is ensured. Any shortcomings in this regard could be disastrous both from the organizational point of view and in terms of statutory compliance.
Being in a highly competitive sector like Construction, the need for proper Wage & Salary Administration is twofold. If you have any further queries, please specify.
Regards, KK
From India, Bhopal
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Statutory Compliance of a Industrial or Commercial Unit.xls
Statutory-compl iance.pdf
Statutory Compliance.zip