The following points highlight the seven main studies at work place and job appraisal of employees. They are: 1. Time and Motion Study 2. Method Study 3. Work Study 4. Activity Sampling 5. Work Simplification 6. Job Evaluation 7. Merit Rating. 1. Time and Motion Study: Time study is a technique designed to establish the time for a qualified worker [...]
The following points highlight the four main types of accounting of labour cost. The types are: 1. Payroll Accounting 2. Labour Cost Accounting 3. Time Keeping 4. Time Booking. Type # 1. Payroll Accounting: It is concerned with the maintenance of records for the amounts due to the employees like salaries, wages, allowances, contributions to provident fund and E.S.I, etc. [...]
The labour remuneration plans are broadly classified into three categories. They are: 1. Time Rate Plans 2. Piece Rate Plans 3. Group Bonus Plans 1. Time Rate Plans: In time based wage payment plans, standard time is predetermined and the efficiency of each individual worker is assessed to compensate them for higher efficiency in work as compared to standard time [...]