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Wages and salaries are known as time rates, while commissions are called incentive rates of pay. Exp

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Time rates are the most prevalent source of remuneration. Wages and salaries are both
time rates remuneration. Wages are paid to workers according to the number of hours worked
multiplied by the hourly pay rate. Salary is paid on a monthly basis. Salary is fixed rate
rumination irrespective of the fact that how many hours you worked. No matter how much you
work, i.e. a 40-hour week pays you the same money as if you worked for 60 hours that week.
But in case of low salaried employees Government have fixed some overtime payments.
Commissions are incentive rates of pay. These are not fixed payments and depend on the
amount of sales an employee makes. Commission is the percentage of total sales. If the
employee makes more sales, he/she will get more commission. Some employees also get fixed
base salaries plus commission on extra sales sometimes resulting in a handsome amount of
compensation. Commission compensation plan offers salespeople more incentive to work very
hard on behalf of the company. Commission generates a desire among employees that salary
does not. But it may happen that when your company is facing a downturn in sales, these people
can leave your company to join the flourishing company.

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Time rates are the most prevalent source of remuneration. Wages and salaries are both time rates remuneration. Wages are paid to workers according to the number of hours worked multiplied by the hourly pay rate. Salary is paid on a monthly basis. Salary is fixed rate rumination irrespective of the fact that how many hours you worked. No matter how much you work, i.e. a 40-hour week pays you the same money as if you worked for 60 hours that week. But in case of low salaried employees Government have fixed some overtime payments. Commissions are incentive rates of pay. These are not fixed p ...
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