Webwage: [noun] a payment usually of money for labor or services usually according to contract and on an hourly, daily, or piecework basis. the share of the national product attributable to labor as a factor in production.

WebDefinition and meaning Verb. As a verb, ‘to wage’ means to embark on an argument, conflict, battle or war. ... When we receive money for the... Wage rates. Wage rates are determined by market forces – supply and demand – as well as legislation and tradition. Wage vs. salary. People often use the ...

WebWages: Definition, Types and Other Details Definitions:. Types of Wages:. Piece wages are the wages paid according to the work done by the worker. To calculate the piece wages,... Concepts of Wages:. The total amount of money received by the labourer in the process of production is called the ...

Web01/06/2022 · 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. Wages are more likely to be paid for unskilled or manual labor. A wage differs from a salary in the ...

Webwage definition: 1. a particular amount of money that is paid, usually every week, to an employee, especially one…. Learn more.

WebBritannica Dictionary definition of WAGE. [count] : an amount of money that a worker is paid based on the number of hours, days, etc., that are worked. a wage of $14 an hour = an hourly wage of $14. Both of them make decent wages. The table and chairs cost two weeks' wages. The company offers competitive wages and good benefits.

WebDefinition: A wage is compensation paid to employees for work for a company during a period of time. Wages are always paid based on a certain amount of time. This is usually an hourly basis. This is where the term hourly worker comes from. Other forms of compensation include salary and commissions.

WebWages – Concepts: Minimum Wage, Living Wage, Fair Wage, Direct and Indirect Compensation and Time Rate and Piece Rate System . Wage means economic compensation paid by employers to employees for the services rendered by the latter. The committee on Fair Wages (1948) and the 15 th Session of Indian Labour conference …

WebInclusions in Wages. Any amount which is payable under any award or settlement between the parties or an order of the court. Amounts that the employee is entitled to with respect to working overtime or on holidays or any leave period. Any additional remuneration as per the terms of employment – bonus, incentive, etc.

Web(2) Minimum wages (3) Fair wages (1) Living Wages: Living wages has been defined differently by different people in different countries. The best definition is given by Justice Higgins which reads “Living wage is a wage sufficient to ensure the workman food, shelter, clothing, frugal comfort, provision for evil days etc. as regard for the skill of an artisan, if …