Please explain the difference between salary and wage, it’s confusing with all the acts like bonus, gratuity, suspension, PF and ESI.
From India, Pune
From India, Pune
Dear Jagan,
All labor laws refer to "wages" and not "salary." Salary is referred to as compensation for higher-level employees/professionals and is generally a fixed amount set for a year or a longer duration. Wages are referred to as hourly or daily compensation for manual/skilled workers. Each act has its own definition of wages with specific inclusions and exclusions.
From India, Mumbai
All labor laws refer to "wages" and not "salary." Salary is referred to as compensation for higher-level employees/professionals and is generally a fixed amount set for a year or a longer duration. Wages are referred to as hourly or daily compensation for manual/skilled workers. Each act has its own definition of wages with specific inclusions and exclusions.
From India, Mumbai
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