Time Rate System


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Time Rate System

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In this system, a worker is paid on the basis of attendance for the day or according to the hours of the day, regardless of the output. This system is also known as time work, day work, day age rate or day rate. The wage rate of the day worker may be fixed on hourly, daily, weekly, fortnightly, or monthly basis depending on the practice followed in the concern.

The basic feature of this system is that the worker is paid so much per unit of time regardless of the output he produces. The unit of time may be an hour, a day, a week or a month. Under this method, wages depend entirely upon the time clocked, but not on the efficiency of the worker. There are three variants of this system, each differing only in so far as the fixation of the time rate is concerned. They are:

 

a) Flat Time or Time Rate at Ordinary level;

b) High Day Rate or Time Rate at high level;

c) Measured Day work or Graduated Time Rate.

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We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to contact@bms.co.in.

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