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Time Wage/Rate System (Workers made (payment on (basis time (spent…
Time Wage/Rate System
One of
oldest system
determining
wage rates.
Time taken
as a base
calculating
total wages.
Time wage= Time spent*Rate per unit of time.
Workers made
payment on
basis time
spent irrespective
of output.
It proves useful
following:-
(1) No standard unit of output is there.
(2) Quality is superior to quantity.
(5) Mental efforts are involved.
(3) Non-standardised work.
(6) Production process is complex.
(4) Delays in work are frequent.
W= T* R