MANAGEMENT

Detailed explanation-1: -Salary is the fixed amount of compensation which is paid for the performance of an employee. Wage is the variable amount of compensation which is paid on the basis of hours spent in finishing a certain amount of work.

Detailed explanation-2: -Hourly employees are compensated at a set hourly rate, which is multiplied by the hours worked during any given pay period. For example, if a worker has an hourly rate of $10.50 and works 40 hours in a given week, then their wages for that period would be 40 x $10.50 or $420.

Detailed explanation-3: -There are three kinds of wages minimum wage, fair wage & living wage.

Detailed explanation-4: -Basic salary is the salary paid to an employee before any additions or reductions to the overall compensation, such as investments, dues, overtime pay or a bonus. Base salary is a fixed amount of money paid to an employee by an employer in exchange for the man hours put to work.