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COMPENSATION MANAGEMENT AND LABOUR LEGISLATIONS (Elective Paper - VII)
UNIT – 1:
Compensation Planning 8Hrs
Introduction, Basic concept of compensation, classical theories on wages, elements of labour economics, establishing pay rates, Importance of an ideal compensation plan, broad branding, Compensation plan and business strategy, devising a compensation plan, challenges affecting compensation.
UNIT – 2:
Industrial engineering 8Hrs
Pricing managerial and professional jobs, job evaluation, job structure
UNIT – 3:
Wage Policy 4Hrs
Concept of wage, Wage policy in India, determinants of wage policy, Impact of income tax on wage and salary administration, Tools used for fixation of wages.
UNIT – 4:
Pay Packet 4Hrs
Constituents – Basic, D A, H R A, and other allowance, Perquisites.
UNIT – 5:
Pay-for-performance & Financial incentives 6Hrs
Meaning and definitions, Background and trends, pre-requisites of effective incentive system, scope of incentive schemes, types of incentives – group incentive plan, for indirect workers, for operations employees for managers and professionals, for sales persons, Total compensation program.
UNIT – 6:
Benefits & services 8Hrs
Why benefits and services? Types of employee benefits and services – insurance, retirement, employee services benefit and others, Principles of Fringes, Significant benefits and service programs, Flexible benefit programs, administration of benefits and services, The future of fringe benefits, guidelines to make benefit program more effective, Benefits and employee leasing.
UNIT – 7:
Recent trends in compensation management 4Hrs
Recent trends in compensation management and the use of information technology.
UNIT – 8:
Labour legislations: 8Hrs
Over view and aspects covered by Payment of wages Act, Payment of Bonus Act, Equal remuneration Act, ESI Act, maternity benefit Act, Payment of Gratuity Act, Factories Act, Minimum Wage Act, Industrial Employment (Standing Orders) Act, Industrial Disputes Act, PF Act.
BOOKS FOR REFERENCE:
1. A.M. Sharma, Understanding Wage System.
2. N.D.Kapoor, Labour Legislation.
3. C.B. Memoria, Personnel management.
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