Salary is paid to \\\"exempt\\\" employees. These are people who do not have to account for the hours they put into the job; rather they are paid to get the job done. They still have to account for holidays, sick days and vacation days, just not the individual hours. Often they get bonuses or other incentives since these jobs are largely management, sales or project related. Wages are paid to \\\"non-exempt\\\" or \\\"hourly\\\" employees. These people account for their time on a time card or other record keeping system. Depending on the company, they may earn overtime for extra hours, or be expected to take time off to offset any late hours within the same time period. Usually the employee has to have worked a full 40 hour week to earn overtime. By the way, the employer does not have the right to amend a time card without employee permission/initial.
From India, Mumbai
32From India, Mumbai
The most common difference between a wage and a salary is that wages are often paid per hour or weekly while Salary on the other hand refers to how much one is paid monthly or yearly. The earners are normally paid for performance but not by the hour.
From India, Cochin
From India, Cochin
Legally there is no defference between wages and salary, as far as labor law in india is cocerned. Varghese Mathew 9961266966
From India, Thiruvananthapuram
From India, Thiruvananthapuram
Dear Mr. Amar,
Those who are connected with direct productivity of a company have been paid wages, where as indirect activity (Sales, Marketing, Administration, Accounts) have been paid Salary. That is why in the Company's Balance Sheet, the wages shall be accounted in the "Manuafacturing Account" to arrive at the Gross Profit and Salaries shall be accounted in the Profit & Loss account to arrive at the "Net Profit" of a company.
Regards.
Ravi.
From India, Mumbai
Those who are connected with direct productivity of a company have been paid wages, where as indirect activity (Sales, Marketing, Administration, Accounts) have been paid Salary. That is why in the Company's Balance Sheet, the wages shall be accounted in the "Manuafacturing Account" to arrive at the Gross Profit and Salaries shall be accounted in the Profit & Loss account to arrive at the "Net Profit" of a company.
Regards.
Ravi.
From India, Mumbai
Hi,
Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed.
Wage is an hourly basis amount of money or compensation paid to an employee by an employer in return for work performed.
Regards,
Umesh Agarwal
From India, Hyderabad
Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed.
Wage is an hourly basis amount of money or compensation paid to an employee by an employer in return for work performed.
Regards,
Umesh Agarwal
From India, Hyderabad
Dear Umesh,
I do not think that, salary is fixed amount of money paid to the Employee.
Salary also depends on Attendance, Weekly Off, Public Holidays, Leaves and Absents. We have to reffer everything during making salary statement.
If there is any data which states the above, please let me know.
From India
I do not think that, salary is fixed amount of money paid to the Employee.
Salary also depends on Attendance, Weekly Off, Public Holidays, Leaves and Absents. We have to reffer everything during making salary statement.
If there is any data which states the above, please let me know.
From India
The question is not about how do we process our salaries or wages, the question states what is the difference between wages and salaries ?
Although both are same thing but if , when we have to give a explanation we can refer above definition.
Income Tax act understand the "Salary" and various Labour Laws understand the "Wages"
Regards,
Umesh Agarwal
From India, Hyderabad
Although both are same thing but if , when we have to give a explanation we can refer above definition.
Income Tax act understand the "Salary" and various Labour Laws understand the "Wages"
Regards,
Umesh Agarwal
From India, Hyderabad
Hello Amar, Its very simple to understand that who works Physically only(worker) They got Wages & who works Physically + mentally ( Employee) they got Salary. Prachi
From India, Pune
From India, Pune
Dear Umesh,
I understand that you want to state actually. Ok I agreed, but as far as Income Tax Act, Section 17 (l) concern, Wage Itself coming under Salary. Here I would repeat the same I had stated in my previous Thread. Please give a look:
It is just like the difference between Workman and Employee. The meaning of both the words is same but the use are different.
For Example:
If you ask your Production Manager, Sir, is your wage credited to your account, it will not look good. You should ask, Sir, is your salary credited to your account.
Like that
If you ask a sweeper who works for few daye in a month, Hello, do you need any clarification regarding your working days and salary, it will not look good. You should ask, Hello, do you nee any clarification regarding your working days and wage.
Generally, those attendance and salary has been calculated in Monthly basis that can be said Salary and those attendance and salary has been calculating on daily basis that can be said Wage. Does not matter, whether you are paying them physically daily or monthly. The procedure of calculation makes the difference.
From India
I understand that you want to state actually. Ok I agreed, but as far as Income Tax Act, Section 17 (l) concern, Wage Itself coming under Salary. Here I would repeat the same I had stated in my previous Thread. Please give a look:
It is just like the difference between Workman and Employee. The meaning of both the words is same but the use are different.
For Example:
If you ask your Production Manager, Sir, is your wage credited to your account, it will not look good. You should ask, Sir, is your salary credited to your account.
Like that
If you ask a sweeper who works for few daye in a month, Hello, do you need any clarification regarding your working days and salary, it will not look good. You should ask, Hello, do you nee any clarification regarding your working days and wage.
Generally, those attendance and salary has been calculated in Monthly basis that can be said Salary and those attendance and salary has been calculating on daily basis that can be said Wage. Does not matter, whether you are paying them physically daily or monthly. The procedure of calculation makes the difference.
From India
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