Compensation and reward management : wages & salary administration and benefits / R.C. Sharma, Sulabh Sharma.

This book presents a comprehensive account of the intricacies related to compensation and reward management in Indian organizations—a vital strategic feature of HR management. It presents a blend of theoretical concepts, definitions, approaches, methods and techniques related to compensation practices being followed/likely to be followed in organizations. Starting with a conceptual framework, it discusses wage determination and wage fixation practices in India, salary reviews and reward management policies, and processes and procedures, in addition to international remuneration with special reference to expatriates and the remuneration of third country nationals. In addition to examining the designing and monitoring of salary grade structures including salary progression curves, it spells out divergent systems and institutions for wage determination/wage fixation practices in Indian organizations.

Conceptual framework -- Compensation management -- Divergent systems and institutions wage determination in practice in Indian organizations (with special reference to job analysis and job evaluation) -- Contingent pay : pay for performance, competence, skill-II -- Contingent pay : pay for performance, competence, skill-II -- Administering and controlling salary costs and salary review -- Designing and operating fringe benefits and services, and internal audit of compensation and benefits (I) -- Designing and operating fringe benefits and services, and internal audit of compensation and benefits (II) -- Designing and operating non-financial benefits (intrinsic and relational rewards) -- Compensation and reward management policy, processes, procedures and some other issues -- Tax planning and the Income Tax Act, 1961 -- International remuneration.