Wages means the payment that is made by an employer to his workers or employees as remuneration of their work that they have rendered for the employer. This remuneration may be weekly, fortnightly or monthly. Thus, wage means any monetary amount given by an employer to his employees for their services. Yoder and Heneman, "Wages are the compensation of wage [...]
The wage boards are tripartite in character having representatives of workers, employers, and independent members participate and finalize the recommendations. The utility of such boards in the present context is debatable. A wage board is a statutory body established by the government to tackle the disputes relating to the employers or the employees. A Wage Board is a tripartite body [...]
Wage may differ in different types of employment, occupation, from industry to industry, between person to person in the same grade or level, from state to state or from country to country. These differences are termed as wage differentials The wage differentials help in building the wage structures for various levels and types of jobs in an organization, as they [...]