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COMPONENTS OF THE PAY STRUCTURE

Published on Nov 22, 2015

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1.

COMPONENTS OF THE PAY STRUCTURE

  • Salary Payments
  • Non-Salary Payments
  • Minimum Wage
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2.

Salary Payments

  • Base pay
  • Additional components
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3.

Untitled Slide

  • Time Rate
  • Piece Rate
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4.

Additional Components

Art.31 ET: "Employees are entitled to two additional monthly payments per year"
5.

Non-salary Payments

  • Work related expenses
  • Social security benefits
  • In-kind goods
  • Other benefits
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6.

Minimum Wage

  • Minimum wage is a limited amount of salary that an employee will receive per hour
  • For 2014, the national minimum wage is 752,85€ per month Spain
  • Highest in Luxemburg(1923€)
  • Lowest In Bulgaria(194€)
Now when have looked the cons and pros of minimum wage here is summary. For conclusion can be said that minimum wage law has been applied to improve the living standards of poorer households (McCarrier, Zimmerman, Ralston, Martin 2011). However even if the intention of minimum wage is good, it does not work like designed to work as seen in the previous examples. The biggest question for the future will be that can some country get the minimum wage work the way it has been invented meaning that it would liquid extreme poverty out of the world
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7.

Case Study

  • In Indonesia only the 17% from the poorest households gain the benefits of minimum wage when applied, because of the inflation > prices went up > purchasing actually decreased
  • Therefore this brings the big question to table that is the minimum wage system really fair , because it seems that it doesn’t help the real poor people
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8.

WHAT ARE THE ADDITIONAL COMPONENTS BASE ON?

  • Personal attributes
  • Job related
  • Company/Individual Payments
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9.

What do you thing, should every employee be entitled to gain bonus when the company makes a positive result?

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10.

What do non-salary payments compensate for?

  • Expenses in relation to work perfromance or to cover needs or situation temporary in capacity
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11.

Untitled Slide

  • What is the minimum wage in spain?
  • 752.85€
  • Where are the highest and the lowest minimum wages in the EU?
  • In Luxemburg/Bulgaria
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12.

What did the study in Indonesia show in terms of purchasing power?

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