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

Jun 21st, 2015
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Wages and salaries are known as time rates, while commissions are called incentive rates of pay. Explain in your own words the difference between these payment methods.

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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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