Introduction

• Explains the components of wages
• Explains the objectives of compensation
• Explains principles of compensation formulation taking into account the determinants of wage rates
• Explains the theories and principle of compensation determination
• Illustrates different types of wages such as minimum rate of wages, need-based minimum wage, living wage and fair wage
• Explains the significance of employee compensation
• Explains the behavioral and ethical issues faced in an organisation
• Explains the procedure and practices involved in wage determination
• Illustrates the compensation decisions involved in management such as job analysis, description, identifying job factors, job evaluation and pay determination
• Illustrates the procedure of compensation benchmarking compensation benchmarking involving planning, analysis, integration and action phase
• Explains the salient features of employee compensation in India
• Explains the components of employee reward system and compensation practices in India

Economic Theories

• Economic theories in compensation management
• Explains the procedure of Employee compensation valuation
• Describes ESOPs and procedure of pricing
• Explains the role of Labour Markets and Trade Unions

Job design

• Explains the process of designing a job
• Explains the procedure and steps involved in job analysis and job description
• Describes the process involved in job evaluation and assessment
• Describes the tools used in work measurement in an organisation
• Explains the importance of management and ergonomics

Performance-based compensation

• Explains the functioning of Performance Management System (PMS)
• Describes the objectives and indicator of performance measurement
• Describes the procedure of developing performance standards in an organisation
• Describes different techniques of performance modeling
• Explains the dimensions and scales of performance evaluation
• Explains the concept and working of Competency-based pay

Team-based compensation

• Explains the operations and techniques involved in employee evaluation system
• Explains the concept of group incentive plans
• Describes the gain-sharing plan
• Explains the procedure of designing team-based compensation
• Describes the issue in rewarding teams

Executive Compensation

• Explains the theories and practices involved in executive compensation
• Describes the components of executive compensation
• Explains the factors affecting executive compensation and the criteria involved in executive compensation
• Explains the various techniques of performance measurement

Employee Motivation and benefits

• Explains the theory of employee motivation and morale boosting
• Explains the objectives of employee motivation
• Explains different types of employee benefits
• Statutory employee benefits in India
• Describes the various employee benefits alternatives
• Describes the various non-monetary employee benefits
• Explains the deferred compensation plan

Sales Compensation

• Explains the concept of sales functions
• Describes the sales compensation plan design procedure and issues encountered
• Explains the procedure of sales compensation design and administration
• Describes different types of sales incentives and motivation plans

Legal issues

• Compensation and Income Tax Act, 1961
• Describes the various tax implications
• Describes the process of wage fixation and legal interpretation

Quantitative Tools for Compensation Management

• Explains the variable compensation plans and defines its constitution
• Described the retirement plans and its structure
• Explains the concept of payroll management system and their functioning
• Explains the procedure of determining incentives and employee benefits
• Describes the methods of group incentive payments
• Explains the concept of Economic Value Added (EVA)
• Describes the procedure of quantitative analysis for performance measurement

International Compensation Management

• Explains the different approaches to international compensation
• Describes the various components of international compensation
• Describes the procedure of designing international compensation plans
• Explains the concept of variation
• Describes the issues encountered in designing international compensation plans
• Explains the various repatriation issues

Employees Provident Fund

• Explains Employees Provident Fund (EPF) Basics
• Describes EPF Features
• Describes EPF Forms
• Explains UAN
• Describes EPF Calculation and example
• Explains the Online EPF Submission
• Explains the EPFO Claim Status

ESI

• Explains the ESI Basics
• Describes ESI Registration for Organization
• Describes the ESI and Wages
• Explains the ESI Contribution
• Describes the Online ESI Contribution Submission






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