{"id":55169,"date":"2017-05-16T15:59:45","date_gmt":"2017-05-16T10:29:45","guid":{"rendered":"http:\/\/www.vskills.in\/certification\/tutorial\/?p=55169"},"modified":"2024-04-12T14:20:20","modified_gmt":"2024-04-12T08:50:20","slug":"time-rate-vs-piece-rate-wages","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/time-rate-vs-piece-rate-wages\/","title":{"rendered":"Payroll Manager Tutorial | Time Rate V\/S Piece Rate Systems"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a ref=\"magnificPopup\" href=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Selenium-Professional-50.png\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"400\" src=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Selenium-Professional-50.png\" alt=\"Time Rate V\/S Piece Rate Systems\" class=\"wp-image-95529\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Selenium-Professional-50.png 750w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Selenium-Professional-50-300x160.png 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/a><\/figure><\/div>\n\n\n<h3><strong>Time Rate V\/S Piece Rate Systems<\/strong><\/h3>\n<p>Let&#8217;s learn the difference between Time Rate V\/S Piece Rate Systems.<\/p>\n<h4><strong>Meaning:<\/strong><\/h4>\n<ul>\n<li>Wages are paid as per the time spent by workers.<\/li>\n<li>Wages are paid as per the output or production given by workers.<\/li>\n<\/ul>\n<h4><strong>Old\/New System:<\/strong><\/h4>\n<ul>\n<li>Oldest and simplest method of wage payment<\/li>\n<li>Modern and incentive system of wage system<\/li>\n<\/ul>\n<h4><strong>Guarantee of wages:<\/strong><\/h4>\n<ul>\n<li>Gives guarantee of certain minimum wage payment to every worker<\/li>\n<li>Fails to give guarantee of minimum wage payment to every worker<\/li>\n<\/ul>\n<h4><strong>Support:<\/strong><\/h4>\n<ul>\n<li>Employees and trade unions support time rate system.<\/li>\n<li>Employers and efficient workers prefer piece rate system.<\/li>\n<\/ul>\n<h4><strong>Understanding of system<\/strong>:<\/h4>\n<ul>\n<li>Easy to understand and simple to administer<\/li>\n<li>Complicated system as various recorded and registers are required to be maintained<\/li>\n<li>Distinction between workers:<\/li>\n<li>Distinction is not made between efficient and inefficient workers as all are paid at one and same rate.<\/li>\n<li>Distinction is made between efficient and inefficient workers. Efficient worker is paid more while an inefficient worker is paid less.<\/li>\n<\/ul>\n<h4><strong>Effect on Production: <\/strong><\/h4>\n<ul>\n<li>Encourages workers to follow go-slow policy and naturally production suffers.<\/li>\n<li>Encourages workers to take more interest in the work and naturally production increases<\/li>\n<\/ul>\n<h4><strong>Quality of production: <\/strong><\/h4>\n<ul>\n<li>Quality, workmanship of production are not affected, raw materials, machinery are utilized properly. The spoiled work is also negligible.<\/li>\n<li>Quality, workmanship of production may suffer. Increase in spoiled work and wastage of raw materials.<\/li>\n<\/ul>\n<h4><strong>Supervision: <\/strong><\/h4>\n<ul>\n<li>Strict supervision is necessary as workers are paid as per the period spent.<\/li>\n<li>Strict supervision is not necessary as workers are paid in proportion to the production given<\/li>\n<\/ul>\n<h4><strong>Suitability:<\/strong><\/h4>\n<ul>\n<li>Suitable to manufacturing units, also suitable when individual contribution is not easily measurable.<\/li>\n<li>Suitable when contribution of individual worker is measurable and work is standardized and resistive in character.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.vskills.in\/practice\/payroll-manager\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-95472 aligncenter\" src=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Export-Import-Foreign-Trade-Professional-75.png\" alt=\"certified payroll manager free practice test\" width=\"960\" height=\"150\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Export-Import-Foreign-Trade-Professional-75.png 960w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Export-Import-Foreign-Trade-Professional-75-300x47.png 300w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/><\/a><\/p>\n\n\n<p><a href=\"https:\/\/www.vskills.in\/certification\/tutorial\/certified-payroll-manager\/\" target=\"_blank\" rel=\"noreferrer noopener\">Go back to Tutorial<\/a>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <a href=\"https:\/\/www.vskills.in\/certification\/payroll-manager-certification\" target=\"_blank\" rel=\"noreferrer noopener\">Go to Home Page<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Time Rate V\/S Piece Rate Systems Let&#8217;s learn the difference between Time Rate V\/S Piece Rate Systems. Meaning: Wages are paid as per the time spent by workers. Wages are paid as per the output or production given by workers. Old\/New System: Oldest and simplest method of wage payment Modern and incentive system of wage&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[6326,14],"tags":[],"class_list":["post-55169","page","type-page","status-publish","hentry","category-payroll","category-human-resources"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Payroll Manager Tutorial | Time Rate V\/S Piece Rate Systems of Wages<\/title>\n<meta name=\"description\" content=\"Learn more about Time Rate V\/S Piece Rate Systems. Make your resume stand out and become a Certified Payroll Manager. 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