Adjustments to the minimum wage are made twice a year; on January 1 and on July. The minimum wage for a 21-year-old on January 1, 2013 is 1,065.30 Euro netto per month and on July 1, 2013 this minimum wage is 1,071.40 Euro netto per month. 29 For a 23 year old on is 1485,60 Euro gross salary / month plus 8 holiday subsidy so 1604,45 Euro gross salary / month United States edit further information: Income in the United States In the United States, the distinction between periodic salaries (which. At that time, five categories were identified as being "exempt" from minimum wage and overtime protections, and therefore salariable. In 1991, some computer workers were added as a sixth category but effective august 23, 2004 the categories were revised and reduced back down to five (executive, administrative, professional, computer, and outside sales employees). In June 2015 the department of Labor proposed raising "the salary threshold from 455 a week (the equivalent of 23,660 a year) to about 970 a week (50,440 a year) in 2016" 30 On may 18, 2016 the final rule updating the overtime regulations was. Effective december 1, 2016 it says: "The final Rule sets the standard salary level at the 40th percentile of weekly earnings of full-time salaried workers in the lowest-wage census Region, currently the south (913 per week, equivalent to 47,476 per year for a full-year worker).". To be exempt as an hce, an employee must also receive at least the new standard salary amount of 913 per week on a salary or fee basis and pass a minimal duties test." 31 "Although the flsa ensures minimum wage and overtime pay protections.
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Black Africans earned 22, of what the white population earned; 36,1 of what Indians/Asians earned; and 81,7 of what the coloured population earned. In the bottom 5, black Africans earned R500 or less per month while the white population earned R2 000 or less, while in the top 5 they earned R12 567 or more compared to the white population who earned R34000 or more per month. 26 The netherlands edit In the netherlands the salary which occurs most frequently is referred to as Jan Modaal. The term "modaal" is derived from the statistical term Modus. If the government's macro economic policy negatively affects this "Modaal" income or salary-group often the policy is adjusted in order to protect this group of income earners. 27 The dutch word "soldij" can be directly linked to the word "soldaat" or soldier, which finds its origin in the word for the gold coin solidus, with which soldiers were paid during the roman Empire. The netherlands is in the top 5 of the highest salary-paying countries in the. The focus has been on feminist the salary levels and accompanying bonuses whereas secondary benefits, though present, has been downplayed yet that is changing. The netherlands claims a 36th position when it comes to secondary benefits when compared to other countries in Europe. 28 The minimum wage is determined through collective labor negotiations (CAOs). The minimum wage is age dependent; the legal minimum wage for a 16-year-old is lower than, for instance, a 23-year-old (full minimum wage).
22 south Africa edit minimum wages are used widely in developing countries to protect vulnerable workers, reduce wage inequality, and resumes lift the working poor out of poverty. The political popularity of minimum wages stems in part from the fact that the policy offers a means for redistributing income without having to increase government spending or establish formal transfer mechanisms. 23 The challenge to policymakers is to find that wage level that is considered fair given workers' needs and the cost of living, but does not harm employment or a country's global competitiveness. 24 south African median employee earning is R2800 a month (usd 210.05) and the average earning is around R8500. These figures are found in sa statistics. Indeed, they reflect the huge gap in the south African society with a large proportion of the population under poverty line that does not have the same opportunities for employment. 25 Median monthly earnings of white (R9500) and Indian/Asian (R6000) population were substantially higher than the median monthly earnings of their coloured (R2652) and black African (R2167) counterparts.
The constitution also guarantees equal pay for women, as stated in Article 37, paragraph 1 20 "Working women are entitled to equal rights and, for comparable jobs, equal pay as men." Japan edit further information: Salaryman This section needs expansion. You can help by adding. (October 2008) In Japan, owners would notify employees of salary increases through "jirei". The concept still exists and has been replaced with an electronic form, or E-mail in larger companies. 21 The position and world of "salarymen" is open to only one third of Japanese men. From school age these young potentials are groomed and pre-selected to one day join a company as a "salaryman". The selection process is rigorous and thereafter the process initiation speaks of total dedication to the company.
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The current minimum wages set for these sectors are set out in the subsidiary legislation in the Act. Women on maternity leave are entitled to 25 of their salaries as stipulated by the Employment Act but the majority of the companies pay out at about 50 for the period. 15 Denmark edit by working for the danish government, it has been agreed under political agreements, that the salary is good dependent on the seniority, education, and of a qualification allowance. European Union edit According to european law, the movement of capital, services and (human) resources is unlimited between member states. Salary determination, such as minimum wage, is still the prerogative of each member state. Other social benefits, associated with salaries are also determined on member-state level. 16 India edit In India, salaries are generally paid on the last working day of the month (government, public sector departments, multi-national organisations as well as majority of other private sector companies).
According to the payment of Wages Act, if a company has less than 1,000 Employees, salary is paid by the company on 7th of every month. If a company has more than 1,000 Employees, salary is paid by the 10th of every month. 17 Minimum wages in India are governed by the minimum Wages Act, 1948. 18 Employees in India are notified of their salary being increased through a hard copy letter given to them. 19 Italy edit In Italy, the constitution guarantees a minimum wage, as stated in Article 36, paragraph 1 20 "Workers have the right to a remuneration commensurate to the quantity and quality of their work and in any case such as to ensure them and. Collective bargaining is protected by trade unions, which have constitutional rights such as legal personality.
Salary (also now known as fixed pay) is coming to be seen as part of a "total rewards" system which includes bonuses, incentive pay, commissions, benefits and perquisites (or perks and various other tools which help employers link rewards to an employee's measured performance. 13 Compensation has evolved considerably. Consider the change from the days of and before the industrial evolution, when a job was held for a lifetime, to the fact that, from 1978 to 2008, individuals who aged from 18 to 44, held an average number of 11 jobs. 14 Compensation has evolved gradually moving away from fixed short-term immediate compensation towards fixed variable outcomes-based compensation. Citation needed An increase in knowledge-based work has also led to pursuit of partner (as opposed to employee) like engagement. By country edit botswana edit In Botswana, salaries are almost entirely paid on a monthly basis with pay dates falling on different dates of the second half of the month.
Pay day usually ranges from the 15th of the month to the last day. The date of disbursement of the salary is usually determined by the company and in some cases in conjunction with the recognized Workers Union. The botswana Employment Act Cap 47:01 Chapter vii regulates the aspect of protection of wages in the contracts of employment. The minimum and maximum wage payment period with the exception of casual employees should not be less than one week or more than a month, and where not expressly stipulated a month is the default wage period per section 75 of the Act payable before. The wages are to be paid during working hours at the place of employment, or in any other way, such as through a bank account with the consent of the employee. Salaries should be made in legal tender, however, part payment in kind is not prohibited provided it is appropriate for the personal use and benefit of employee and his family, and the value attributable to such payment in kind is fair and reasonable. The payment in kind should not exceed forty per cent of the total amount paid out to the employee. The minimum wage is set, adjusted and can even be abolished by the minister on the advice of the minimum Wages Advisory board for specified trade categories. The stipulated categories include building, construction, hotel, catering, wholesale, watchmen, the domestic service sector, the agricultural sector etc.
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13 Commercial revolution edit even many of the jobs initially created by the commercial revolution in the years from 1520 to 1650 and later during Industrialisation in the 18th and 19th centuries would not have been salaried, but, to the extent they were paid. 13 Share in earnings edit In corporations of this time, such as the several East India companies, many managers would have been remunerated as owner- shareholders. Such a remuneration scheme is still common today in accounting, investment, and law firm partnerships where the leading professionals are equity partners, and do word not technically receive a salary, but rather make a periodic "draw" against their share of annual earnings. 13 Second Industrial revolution edit From 1870 to 1930, the second Industrial revolution gave rise to the modern business corporation powered by railroads, electricity and the telegraph and telephone. This era saw the widespread emergence of a class of salaried executives and administrators who served the new, large- scale enterprises being created. New managerial jobs lent themselves to salaried employment, in part because the effort and output of " office work" were hard to measure hourly or piecewise, and in part because they did not necessarily draw remuneration from share ownership. 13 As Japan rapidly industrialized in the 20th century, the idea of office work was novel enough that a new Japanese word ( salaryman ) was coined to describe those who performed it, as well as referencing their remuneration. 13 20th century edit In the 20th century, the rise of the service economy made salaried employment even more common in developed countries, where the relative reviews share of industrial production jobs declined, and the share of executive, administrative, computer, marketing, and creative jobs—all of which. 13 Salary and other forms of payment today edit today, the concept of a salary continues to evolve as part of a system of the total compensation that employers offer to employees.
10 Some people even claim that the word soldier itself comes from the latin sal dare (to give salt 11 but mainstream sources disagree, noting that the word soldier more likely derives from the gold solidus introduced by diocletian in 301. 12 Roman empire and medieval and pre-industrial Europe edit regardless of the exact connection, the salarium paid to roman soldiers has defined a form of work-for-hire ever since in the western world, and gave rise to such expressions as "being worth one's salt". 13 Within the roman Empire or (later) medieval and pre-industrial Europe and its mercantile colonies, salaried employment appears to have been relatively rare and mostly limited to servants and higher status roles, especially in government service. Such roles were largely remunerated by the provision of lodging, food, and livery clothes (i.e., "food, clothing, and shelter" in modern idiom). Many courtiers, such as valets de chambre, in late medieval courts were paid annual amounts, sometimes supplemented by large if unpredictable extra payments. At the other end of the social scale, those in many forms of employment either received no pay, as with slavery (although many slaves were paid some money at least serfdom, and indentured servitude, or received only a fraction of what was produced, as with. Other common alternative models of work included self- or co-operative employment, as with masters in artisan guilds, who often had salaried assistants, or corporate work and ownership, as with medieval universities and monasteries.
time, salt production was strictly controlled by the monarchy or ruling elite. Depending on the translation of Ezra 4:14, 4 the servants of King, artaxerxes i of, persia explain their loyalty variously as "because we are salted with the salt of the palace" or "because we have maintenance from the king" or "because we are responsible. 5 Salarium edit The latin word salarium originally salt money (Lat. The sum paid to soldiers for salt. 6 7 ( The dictionary definition of salarium at wiktionary) or the price of having soldiers conquer salt supplies and guard the salt roads ( via salaria ) that led to rome. 8 9 But there is no evidence for this assertion at all.
1, salaries are fixed cost in nature. Contents, history edit, first paid salary edit, while there is no first pay stub for writings the first work-for-pay exchange, the first salaried work would have required a society advanced enough to have a barter system which allowed for the even exchange of goods or services. More significantly, it presupposes the existence of organized employers—perhaps a government or a religious body—that would facilitate work-for-hire exchanges on a regular enough basis to constitute salaried work. From this, most infer that the first salary would have been paid in a village or city during the, neolithic revolution, sometime between 10,0. A cuneiform inscribed clay tablet dated about 3100 bc provides a record of the daily beer rations for workers in, mesopotamia. The beer is represented by an upright jar with a pointed base. The symbol for rations is a human head eating from a bowl.
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A salary is a form of payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. From presentation the point of view of running a business, salary can also be viewed as the cost of acquiring and retaining human resources for running operations, and is then termed personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts. Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary. Salary is typically determined by comparing market pay rates for people performing similar work in similar industries in the same region. 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 locale.