HRM 004 COMPENSATION MANAGEMENT AND LABOUR LAW

The course is designed to promote understanding of compensation management issues in corporate sector and public services and impart skills in formulation of compensation policy packages. Unit:1 Compensation Role, Economic and Behavioral issues, Wage concepts, Wage theories, National Policy, Wage Boards and Pay Commissions, Corporate Considerations in compensations. Compensation Management, Compensation Decisions- External, Internal & Employee Equities. Job Evaluation Purpose, methods Components Basic Salary, DA, Fringe benefits, Bonus, Incentives, Performance Linked Reward System, Profit Sharing and Stock Options, VRS. Unit:-2 Minimum Wages Act, 1948;-Object and scope; Minimum Wages Act, advisory board, central advisory board; authority and claims, compliances, offences and penalties. Payment of Bonus Act, 1965: object, application and major provision; compliances, offences and penalties. Unit:-3 Payment of Gratuity Act, 1972; application and major provisions: controlling authority and the appellate authority, obligations and right of employees and compliances., Workmens Compensation Act, 1923; object, scope and major provision including proceedings before the commissioner, appeals, compliances, penalties, special provisions. Unit:-4 Employees Provident Funds and Miscellaneous provision Act, 1952; applications and major provisions; exemption and compliances. Employees state Insurance Act, 1948; application and major provisions; employees state insurance court; exemptions and compliances. Recent trends and compensations. Unit:-5 Contract labour( regulation and abolition) Act, 1970; application, scope and major provision including advisory boards, registration of establishments, appointment of licensing officer; welfare and health, compliances; penalties and procedure and inspectors. Cases and Problems References : Principles of Wage Determination : T.S. Papola, Soniya Publication, Bombay. Income Policy and Industrial Relations : C.K. Johari, Shri Ram Centre for Industrial Relations, Delhi. Wages in India : K.N. Subrahamaniam, Tata Mcgraw Hill Publishing Co. Delhi. Wages Issue in Developing Economy : an Indian Experience :F.A.J. Foneeca : Oxford University Press, Delhi. Incentive Payment System : R. Marnott, Stples Press, London. New Concepts Wages Determination : George W. Taylor and John T. Dunlop. Wage Incentives : Theory Practice : G.K. Suri, Shri Ram Centre for Industrial Relations, New Delhi. Executive Compensation : K.K. Anand, Madras Management Association. Economic and Labour Law: Gulsan Kapoor,Sultan S.Chand.