1. Compensation, Wages & Benefit Administration Compensation, Wages & Benefit Administration Unit 3 NEW AGE Human Resource Management and Impact of Employment Legislations in India

2. Labour Laws on Wages & Extra Hours of work www.vmlegalassociates.com Provisions of the Act Minimum wage requirement sets wage floor Child labor (under 14 years old) is prohibited Requires overtime payments for non-exempt employees Exempts highly-paid Managerial Staff & over time Requires overtime pay for hours over 48 hours Requires compensatory time at overtime – twice

3. Compensation Systems Objectives of an Effective Compensation System:  Legal compliance with all appropriate laws and regulations  Cost effectiveness for the organization  Internal, external, and individual equity for employees  Performance enhancement for the organization www.vmlegalassociates.com

4. Nature of Compensation Types of Rewards Intrinsic  Intangible, psychological and social effects of compensation Extrinsic  Tangible, monetary and nonmonetary effects of compensation www.vmlegalassociates.com

5. Components of A Compensation Program www.vmlegalassociates.com

6. Compensation Models & Wages Structures www.vmlegalassociates.com

7. Legal classification of Pay components www.vmlegalassociates.com

8. Competency-Based Pay & Legal Limitations Maintenance of Competencies Limitations Consideration based on Competencies Consideration based on Competencies Training Competency- Based Pay Systems www.vmlegalassociates.com

9. Compensation – Applicable Legislations in India  Minimum Wages Act  The Payment of Wages Act  Equal Remuneration Act  Workman Compensation Act  EPF Act, ESI Corporation Act  The Payment of Bonus Act  The Maternity Benefit Act  The Payment of Gratuity Act  The Tamil Nadu Subsistence Allowance Act  The Apprentice Act www.vmlegalassociates.com

10. Specific Questions SECTION Wages & Compensation 10 www.vmlegalassociates.com