Time Rate System

Advertisement

 

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.

Advertisement
The following two tabs change content below.
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 [email protected]
1 Comment

Leave a reply

BMS.co.in is aimed at revolutionising Bachelors in Management Studies education, also known as BMS for students appearing for BMS exams across all states of India. We provide free study material, 100s of tutorials with worked examples, past papers, tips, tricks for BMS exams, we are creating a digital learning library.

Disclaimer: We are not affiliated with any university or government body in anyway.

©2020 BMS - Bachelor of Management Studies Community 

A Management Paradise Venture

Ask Us On WhatsApp
or

Log in with your credentials

or    

Forgot your details?

or

Create Account