Difference between wages and salary

Definition Salary vs. Wages:

The terms salary and wages both is used to pay the people but salary and wages both is both is not the same thing. Salary and wages can be differentiate by the following definition.

Salary   is fixed regular payment, paid monthly basis. Salary in normally count on annual basis. Total earning decided by the organization is on annual basis. While Wages is an amount which pays to the person either hourly daily (maybe weekly or fortnightly basis).

Salary:

-Salary is fixed amount which paid to the employee on monthly basis but Salary calculated on annual basis.

-Salary employee has to attain on work for a specified period of time which is previously decided. (Approximate 8 hour)

-salary employee have benefits of leave such as sick leave, personal leave, causal leave.

-Normally paid to the people who worked on the designation of officer, managers and the general managers, teacher, professor.  

- skilled people paid salary for their work in any organization or company.

-Salary is typically determined by comparing market pay rates for people performing similar work in similar industries in the same region. Salaries are usually determined by comparing what other people in similar positions are paid in the same region and industry. Most employers have levels of pay rates and salary ranges which are linked to hierarchy and time served

- Salary is also determined by leveling the pay rates and salary ranges established by an individual employer. Salary is also affected by the number of people available to perform the specific job in the employer's employment locate.

-No extra pay exists for a person getting a salary.

Wages

-Wages are the mostly paid per hour.

-Wages earner does not pay for vacations or sick days.

-Payment may be calculated as a fixed amount for each task completed or at an hourly or daily rate or based on an easily measured quantity of work done.

-The government prescribes a certain wage rate to the workers in every industry and the companies must follow the policies of the government.

-The wages are paid to the people who are involved in manufacturing activities, technical, manual and physical activity.

- Non skilled people who mainly do the physical work paid the wages for their work.

-The rate is not fixed it changed. Wages may change depending on the work done.

-person getting wages may get extra money for more hours.


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