Q. System - method and types of wage payment?
Time wage: this is the oldest and the most common method of fixing wages. Under this system workers are paid accordingly to the work done during a certain period of time at the rate of so much per hour, per day, per week, per fortnight or per month or any other fixed period of time. The essential point is that the production of the worker is not taken into consideration in fixing the wages; he is paid at the settled rate as soon as the time contracted for is spent.