MANAGEMENT

Detailed explanation-1: -The term salary is the agreed upon amount of money between the employer and the employee that is extended at regular intervals on the basis of an individual’s performance. Salary is generally a fixed amount of package calculated on an annual basis.

Detailed explanation-2: -An annual salary is the total amount of money you earn from a job in a year. This figure is usually calculated per calendar year, covering the period from January to December.

Detailed explanation-3: -Someone is usually doing salaried hours work if all of the following apply: their contract states how many hours they must work in return for their salary (their basic hours) they’re paid in equal, regular instalments through the year, for example monthly or every 4 weeks.