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Under Halsey premium Plan method, standard time for doing each job or operation as fixed and the worker is given wages for the actual time taken at the agreed rate per hour

Job card is used to keep a close watch on the time spent by a worker on each job. It can be prepared by hand or machine.

The important activities of the pay-roll department is controlling and accounting for labor costs are as follows:

The personal department is one which has the executive authority in controlling and formulating various labor policies and plans in the organisations.

The Advantages of Time Study Are As Follows. (Cost Accounting)

Every business house keeps a regular labor force to meet its requirements. When the permanent labor force on rolls is not sufficient due to extra work, additional workers are employed for a short duration.

Generally idle time means that time for which the employer pays, but from which he obtains no production.

Labor productivity is an index of labor efficiency and indicates the effectiveness in utilization of labor.

A high labor turnover results in increased cost of production due to the following reasons:

Merit rating is the technique of evaluating actual performance of the employees in job. It is alone to measure the individual performance and efficiency of the workers who are working on similar jobs.

These are the following steps that may be taken to reduce the labor turnover:

Fringe benefits are the additional emoluments given by employer to employee except basic salary.

These are various monetary benefits available to the workers such as:

Under this method each worker is allotted a metal disc or a token with a whole bearing his identification number.

The dial time records is a machine which has a dial around the clock. The dial has a number of wholes and each whole bears a number corresponding the identification number of the workers concerned.