Distinguish between time wage and piece wage system
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1. Meaning
Piece rate system is a method of wage payment to workers based on the quantity of output they have produced. Time rate system is a method of wage payment to workers based on time spent by them for the production of output.
2. Nature Of Payment
Piece rate system pays the workers according to the units of output produced. Time rate system pays the workers according to the time spent in the factory.
3. Emphasis
Piece rate system gives emphasis on larger quantity of output. Time rate system emphasis on better quality of output.
4. Discrimination
Piece rate system discriminates the workers and pays more wages to efficient and skilled workers. Time rate system does not discriminate the workers and pays the same wages to efficient and inefficient workers
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Piece rate system is a method of wage payment to workers based on the quantity of output they have produced. Time rate system is a method of wage payment to workers based on time spent by them for the production of output.
2. Nature Of Payment
Piece rate system pays the workers according to the units of output produced. Time rate system pays the workers according to the time spent in the factory.
3. Emphasis
Piece rate system gives emphasis on larger quantity of output. Time rate system emphasis on better quality of output.
4. Discrimination
Piece rate system discriminates the workers and pays more wages to efficient and skilled workers. Time rate system does not discriminate the workers and pays the same wages to efficient and inefficient workers
HOPE IT HELPS U
PLZ MARK IT AS BRAINLIST
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