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Compensation Management
The objective of this subject is to promote an understanding of issues related to the compensation in the organizations.
Concept, Significance of Employee Compensation, common types of compensation.
Wage concepts – Minimum wage, Fair wage, Living wage; Wage Theories, Wage policy in India.
Wage Determinant Methods, Job Analysis and Job Evaluation, Wage Differentials-types, Wage Fixation – Statutory wage fixation, Wage Boards & Pay Commissions , wage services
Basic Salary, DA (evolution and its significance), Fringe benefits, Bonus, Incentives (Individual, group and organization wide).
Methods of wage payment – Time, Piece rate and Incremental Time Scales.
Recent trends in Executive compensation in Indian Organizations
Compensation Management :A Strategic Perspective –Significance of Compensation Strategy
International compensation: Objectives and key components of international compensation.
; Workmen’s Compensation Act, 1923; Payment of Wages Act 1936; Minimum wages Act,1948; Payment of bonus Act ,1965,Payment of Gratuity Act 1972
- Aswathappa, K., Human Resources and Personnel Management , Tata McGraw Hill Publishing Company Ltd., New Delhi
- Rao.V.S.P, Human Resource management, Excel Book, New Delhi.
- Monappa Arun, Industrial Relations, Tata McGraw Hill Publishing Co. Ltd., New Delhi
- Subramaian K.N. Wages in India, Tata McGraw Hill Publishing Co. Ltd., New Delhi
- Verma, Pramod Wage Determination: Concepts and Cases , Oxford and IBH, Publication, New Delhi :
- Sharma, A.M. Industrial Relations, Conceptual and Legal Framework, Himalaya Publishing House
- Poole Michael, Industrial Relations; Origins and Patterns of National Diversity; Routledge & Kegan paul, London.
- Keer, Clark and Staudohar, Paul D., Industrial Relations in a New Age, Jossey- Bass Publishers, San Franciso;
