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Understanding Remuneration Systems

Remuneration is the payment that a worker receives for their labor effort. There are different types of remuneration such as time-based, contract-based, or piece-rate pay. Salary planning establishes employee salaries and includes social deductions such as taxes and employer contributions, which are obligations of the employer to protect workers.

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8 views2 pages

Understanding Remuneration Systems

Remuneration is the payment that a worker receives for their labor effort. There are different types of remuneration such as time-based, contract-based, or piece-rate pay. Salary planning establishes employee salaries and includes social deductions such as taxes and employer contributions, which are obligations of the employer to protect workers.

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COMPENSATION QUESTIONNAIRE

1.- WHAT IS REMUNERATION?


It is the permanent right that the worker has to receive economic compensation in money or
when a person performs a professional job or fulfills a specific task in a
The company expects to receive a payment for its effort.

2.- WHAT KIND OF REMUNERATION EXISTS?


Part-time remuneration
2. Compensation by contract
Piecework pay
3.- WHAT DOES TIME COMPENSATION CONSIST OF?
The human resources department controls time through individual attendance cards, which
It is used to record the time of entry and exit, either through a time clock or in writing.
manual, this card only records the worker's duration of stay and not the work performed in
a workday, the card is useful for preparing the payroll.
4.- WHAT DOES PIECEWORK REMUNERATION CONSIST OF?
It consists of paying the worker according to the work performed or the worker's performance, setting
a fee per unit produced, therefore, the amount of the salary will depend on the worker's skill.
5.- WHAT DOES REMUNERATION BY CONTRACT CONSIST OF?
The Contract is the main tool we use in the labor market between those who hire and
who develop a job. We can say summarizing a lot that a Contract is the document
in which the conditions to which the employer and the worker commit are summarized
develop their respective functions (depending on the type of contract used the rights and
The duties of the employer and the worker will vary.
6.- WHAT IS THE OBJECTIVE OF SALARY PLANNING?
It is to establish the salary that each of our employees will receive, one of these concepts is the
salary planning, an elaboration with which, according to Planning.
7.- WHAT IS JOB EVALUATION?
Job Evaluation is a process that is supported by a set of special techniques, to
determine the individual value of a position within a company in relation to other positions
the same.
8.- WHAT IS A FUNCTION MANUAL?
It is an administrative tool that describes the activities (tasks) and the responsibilities of the
positions that exist in the institution, as well as their internal and external interrelations, the profile
what is required to aspire to a position.
9.- WHAT IS THE SENIORITY BONUS?
This remuneration is regulated by DS 21060 according to years of service and percentages; the basis of
calculation is based on three national minimum wages applying the percentages of one wage
10.- WHAT DOES THE REMUNERATION SYSTEM INCLUDE?
The Payroll system includes all personnel movements within a company.
obtaining all necessary reports to comply with monthly obligations, such as
the AFP forms and the sworn statements.
11.- DESCRIBE WHAT THE SOCIAL DEDUCTIONS FOR WORKERS ARE.
Those that are required by law, such as federal and state taxes, social security,
compensation to workers, or garnishment orders.
Those deductions for which the employee has signed a voluntary authorization and the deduction
It is for the benefit of the employee and recorded in the employer's books.
Those deductions for which the employee has signed a voluntary authorization as long as
the last recipient of the withheld money is not the employer, and that such deduction is recorded
in the employer's books.
Those deductions authorized by the negotiation of a collective agreement in which the employer
it is a part
12.- DESCRIBE WHAT THE EMPLOYER CONTRIBUTIONS ARE?
they become obligations of the employer regulated by legal provisions for the purpose of
protecting human capital, are at the expense and cost of the employer such as: Pro-Housing 2% Total
Income. AFP-Professional Risk 1.71% on Total Income (Law 065 of Pensions)
13.- WHAT IS THE PERCENTAGE OF CONTRIBUTIONS TO NATIONAL TAXES WHEN THE SALARY IS HIGHER
A 13.000; 25.000 and 35.000?
Additional contribution from those who earn above:
. Sueldo de Bs. 13.000 hasta Bs 24.999 1%
. Salary from Bs. 25,000 to Bs. 34,999 5%
. Salary of Bs. 35,000 and above 10%
14.- WHAT IS THE NATIONAL MINIMUM WAGE?
The amount set for the National Minimum Wage, in the public and private sectors, is Bs 2.
164.
15.- HOW ARE WAGES AND SALARIES RECORDED ACCOUNTINGWISE?
Salaries and Wages
Wages and salaries payable
Withholding and contributions payable 12.71%
Tax Withholdings Payable According to Law
843
National Solidarity Contribution
16.- HOW ARE EMPLOYER CONTRIBUTIONS ACCOUNTED FOR?
Social charges
Employer contributions payable 16.71%
Previous for Social Benefits 8.33%
Prov. for bonus 8.33%

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