GENERAL KNOWLEDGE

Detailed explanation-1: -An enterprise agreement is a collective agreement negotiated between an employer and a group of employees. They can replace the terms and conditions of employment under a modern award. However, the employee’s rights under the agreement must surpass those in the applicable award.

Detailed explanation-2: -Wages and salaries are the remuneration paid or payable to employees for work performed on behalf of an employer or services provided. Normally, an employer is not permitted to withhold the wages or any part thereof, except as permitted or required by law.

Detailed explanation-3: -An industrial instrument is a legally enforceable document relating to minimum entitlements for employees covered within its scope. This usually refers to a modern award, enterprise agreement, and any preserved instrument made under the previous workplace relations system.

Detailed explanation-4: -A sound wage policy maintains industrial peace, satisfies both the employers and the workers, increases the output of the firm and efficiency of workers, reduces costs and maximizes profits. An unsound or irrational wage policy is always condemned from social and humanitarian point of view.