Principles of Remuneration.

Q43. Discuss the main principles of remuneration.
Ans. Principles of remuneration are:

  1. Wages rate should guarantee minimum wages.
  2. Wages rate should be such to maintain the worker a reasonable standard of living.
  3. Wages rate should be related to skill, efforts and responsibilities of worker.
  4. It should be such to enable a worker to increase his wages by doing extra efforts.
  5. Separate wages rate for different workers.

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