Question Performance standards & norms for incentive payments should be set... high for better results.
advertisement
Question Performance standards & norms for incentive payments should be set up high for better results. Correct Answer False Question Employer's contribution to Superannuation Fund is taxable. Correct Answer False Question The goals and ideals of a traditional Indian family were spiritual and religious. Correct Answer True Question If workers do not understand relationship between performance and rewards, incentive plans cannot motivate workers. Correct Answer True Question Bonus is component of deductions. Correct Answer False Question The Scanlon plan of profit sharing is more effective where no of participants is more than 1000. Correct Answer False Question Indirect labour cost forms a part of overheads. Correct Answer True Question Salary is still the only or chief motivator for IT employees. Correct Answer False Question Incentive payments should be made at the end of fiscal year. Correct Answer False Question Most companies as against earlier visible cost don't use the "Total Cost To The Company". Correct Answer False Question Incentive schemes should be installed right from beginning of production. Correct Answer False Question In industrialization there is not always mass production. Correct Answer False Question Compensation policy does not need criteria for promotions. Correct Answer False Question If the employee receives conveyance allowance, or, he is provided with a vehicle by employer, he is not eligible to get 'Standard deduction' from his salary. Correct Answer False Question If the car is used for office duty, only the value of the use of motor car is taken as 'NIL'. Correct Answer True Question Accumulated leave pay is treated as Indirect expenses. Correct Answer True Question House rent allowance paid to a employee residing in his own house is not exempt from tax. Correct Answer True Question Halsey Premium plan is a combination of the day wage & piece wage in modified form. Correct Answer True Question The management must concentrate on creating proper industrial relations climate before introducing incentive schemes. Correct Answer True Question Usually multinational companies ay higher than small scale industry. Correct Answer True Question Education expenses on employee's family members paid or reimbursed by the employer are not taxable. Correct Answer False Question The cost of time lost in setting a machine is treated as indirect cost. Correct Answer False Question Any other amenity or service excluded from the computation of wages by a general or special order of appropriate Govt. Correct Answer False Question If an employee pays fees for attending some management course, the fees can be allowed for deduction from salary income. Correct Answer False Question The payment of profit sharing plan is of uncertain nature because of uncertainty of profits to the company. Correct Answer True Question If the car is used for office duty, only the value of the use of motor car is taken as 'NIL'. Correct Answer True Question Monitory payment often act as motivators and satisfiers interdependently of other job factors. Correct Answer True Question If the employee receives conveyance allowance, or, he is provided with a vehicle by employer, he is not eligible to get 'Standard deduction' from his salary. Correct Answer False Question Direct labour costs are included in cost of production of each unit. Correct Answer True Question In piece rate & time rate combination system, the workers may feel over secured and do not try hard to increase production. Correct Answer True Question Gradewise flat allowances are also being considered generally except where tax exemption benefit are still available. Correct Answer True Question In engineering and chemical industries, mostly we find group system of incentives. Correct Answer True Question Within the factory group promotion is important. Correct Answer False Question Wage & salary are also subject to a variety of legislation & in this context, compliance with existing legislative measure is very important. Correct Answer True Question Incentive schemes sometimes lead to jealousies and misunderstanding among the workers. Correct Answer True Question Indirect labour cost are distributed on a basis of suitable proportion. Correct Answer True Question Group incentive system is more widely prevalent in the Indian industry than the system of individual incentive. Correct Answer True Question Time booking helps to ascertain direct and indirect labour costs. Correct Answer True Question Equal remuneration Act, 1976 discriminates on the ground of sex against women in the matter of employment. Correct Answer False Question Economic system does result in the concentration of wealth. Correct Answer False Question IT jobs still remain the best paying jobs in the country. Correct Answer True Question If the rent paid by employee for his accommodation is equal to or more than the value of rent-free house, the value of the concession in rent is 'NIL'. Correct Answer True Question Many companies have chosen some what shady reimbursement or perquisite in order to contain the overall cost in the assumption of being non taxable. Correct Answer True Question Compensation given to an employee on termination or dismissal is considered as Salary Income. Correct Answer True Question Taylor differential piece rate system is suitable for large scale production. Correct Answer True Question Provident fund is component of gross earnings. Correct Answer False Question Wage Policy is not of great concern to labour, management and Govt. Correct Answer False Question The cost of living pay criterion is usually regarded as an automatic minimum equity pay criterion Correct Answer True Question Taylor differential piece rate system is difficult to understand and implement. Correct Answer False Question Wage and salary administration should be controlled by some proper agency. Correct Answer True Question Rate of change in the working force of an organisation during a period of time is known as employee turnover. Correct Answer True Question Contribution to the Provident Funds are made at certain rate or certain percentage of salary of employee, only by the Employer. Correct Answer False Question The cost of time lost in strikes is charged to Profit & Loss Account. Correct Answer True Question The principle of determining minimum wages were evolved by the Govt. and have been incorporated in the Minimum Wages Act, 1948. Correct Answer True Question Any contribution to pension, provident fund or a scheme of social security etc. amounts to wages. Correct Answer False
