Pay Package Interview Preparation Guide Download PDF
Pay Package related Frequently Asked Questions by expert members with experience in Salary Package. These questions and answers will help you strengthen your technical skills, prepare for the new job test and quickly revise the concepts
31 Salary Package Questions and Answers:
Salary package is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary.
Salary package is typically determined by comparing market pay rates for people performing similar work in similar industries in the same region. Salary package is also determined by leveling the pay rates and salary ranges established by an individual employer. Salary is also affected by the number of people available to perform the specific job in the employer's employment locale.
The concept of a salary continues to evolve as part of a system of the total compensation that employers offer to employees. Salary (also now known as fixed pay) is coming to be seen as part of a "total rewards" system which includes bonuses, incentive pay, commissions, benefits and perquisites (or perks) and various other tools which help employers link rewards to an employee's measured performance.
The salary packages are entirely paid on a monthly basis with pay dates falling on different dates of the second half of the month in Botswana. Pay day usually ranges from the 15th of the month to the last day. Date of disbursement of salary is usually determined by the company and in some cases in conjunction with recognized union of workers.
It has been agreed under agreements, that salary package is dependent on the seniority, education and of qualification allowance in Denmark.
Movement of capital, services and resources is unlimited between member states according to eaurpean union. Salary package is determined as minimum wage, is still prerogative of each member state. The Other benefits, associated with salary packages are determined on level of member state.
The salary packages are generally paid on the last working day of month in India. If a company has less than 1000 Employees, salary package is paid by 7th of every month. If a company has more than 1000 Employees, salary is paid by 10th of every month.
The workers have right to remuneration commensurate to the quantity and quality of their work and in any case such as to ensure them and their families a free and dignified existence.
The owners will notify employees of salary package increases through "jirei". The concept still exists and is being replaced with an electronic form or E-mail in larger companies. The position and world of "salarymen" is open to only one third of Japanese men.
Median employee of South Africa is earning is R2800 a month (one can divide approximately by 10 to have the euro equivalent) and the average earning is around R8500. These figures are found in SA statistics. They reflect the huge gap in society of South Africa with a large proportion of population under poverty line that does not have same opportunities for employment.