SALIENT FEATURES OF WORKMEN COMPENSATION ACT‚ 1923 Submitted by MOKSHA NAIR WORKMEN COMPENSATION ACT‚ 1923 Objective of the Act: The objective of the Act is to provide compensation to workmen for injury or an accident. It was the first Labour Law Act enacted to provide one time compensation to a workman injured on company’s premises or shop floor. Salient Features of the Act: 1. An employer is obligated to pay compensation to a workman in case
Premium Employment
Chapter # 1 Key Terms: ALLOWANCES~ Compensation to provide for items that are in short supply COMPENSATION~ All forms of financial returns and tangible services and benefits that employees receive as part of an employment relationship COST-OF-LIVING ADJUSTMENT~ Percentage increment to base pay provided to all adjustments employees regardless of performance EXTERNAL COMPETITIVENESS~ Comparison of compensation with that of competitors INCENTIVES (variable pay)~ Onetime payments
Premium Employment Management The Work
Re: Murray Compensation‚ Inc. Facts Murray Compensation‚ Inc. (Murray)‚ an SEC registrant that provides payroll processing and benefit administration services to other companies‚ granted 100‚000 “at-the-money” employee share options on January 1‚ 2006. The awards have a grant-date fair value of $6‚ vest at the end of the third year of service (cliff-vesting)‚ and have an exercise price of $21. Subsequent to the awards being granted‚ the stock price has fallen significantly. On January 1
Premium Derivative Option Call option
Assignment 2 – Compensation Plan Outline Ginger Renee Wigglesworth Dr. Anthony Jacob Compensation Management December 2‚ 2012 Evaluation of Coca Cola ’s Compensation Plan Introduction Coca Cola uses a market-based compensation plan in which employees receive compensation that is comparable to the market rate. The market-based system is used for hourly employees and for entry level managers that receive a salary. The company also uses a merit pay system for increases‚ with
Premium Pension Employment compensation Management
CEO Compensation As Murphy (1998) rightly points out‚ CEO compensation has become one of the most debated issues in the recent past. A lot of research in this field has been conducted to determine the relationship between CEO pay levels with the corporate performance‚ firm size‚ board vigilance‚ CEO’s human capital‚ tenure & age. But the results of these researches are not very hopeful and have yielded conflicting results. This review aims at understanding these relationships and also tries
Premium Corporate governance Board of directors Stock
Disney fame received $203 million as executive compensation. Although this award was inflated by Eisner ’s exercise of stock options‚ many examples of compensation in millions and tens of millions raise questions on how CEOs should be paid. Critics dispute that CEOs are deserving of their pay. CEOs downsize companies or perform badly‚ yet continue to draw a substantial salary. Unlike low level managers‚ it seems there is no formula for executive compensation. The disparity between the executive pay in
Premium Corporate governance Ethics Board of directors
Chapter 1 Introducing the Pay Model and Pay Strategy 1. How do differing perspectives affect our views of compensation? There are four perspectives in terms of views of compensation: Society’s view * Pay as a measure of justice * Benefits as a reflection of justice in society * Job losses (or gains) attributed to differences in compensation * Belief that pay increases lead to price increases Stockholder’s view * Using stock to pay employees creates a sense of ownership
Premium Employment Meaning of life Stock market
AN EXPATRIATE An expatriate (in abbreviated form‚ expat) is a person temporarily or permanently residing in a country and culture other than that of the person ’s upbringing or legal residence. The word comes from the Latin ex (out of) and patria (country‚ fatherland). During the latter half of the 20th century expatriation was dominated by professionals sent by their employers to foreign subsidiaries or headquarters. Starting at the end of the 20th century globalization created a global market
Premium Salary
challenges‚ one of the most important issues is to determine how to appropriately compensate and incentivize their employees. International compensation is defined as ‘the provision of monetary and non-monetary rewards valued by employees according to their relative contributions to MNC performance’ (Harzing‚ 2004). The main objective of any international compensation is to attract and retain the most talented people who are qualified for international assignments. In most situations‚ managers would want
Premium Multinational corporation Corporation Globalization
We will provide career growth and development‚ a competitive compensation and benefits package which includes medical‚ dental ‚ tuition reimbursement program travel compensation vision‚ dental‚ life insurance;; and credit union membership The average salary for senior communications analyst jobs in Scottsdale‚ AZ is $67‚000 depending on the size and age of the company ("Simply Hired"‚ 2012). Providing a comprehensive and attractive medical benefit package is tough with today’s medical insurance
Premium Employment Employee benefit Health care