Labour welfare, relates to taking care of the well-being of workers by employers, trade unions, government and non-government agencies. It deals with the provision of opportunities for workers and his family/her family for a good life as understood in most comprehensive sense. The basic purpose of labour welfare is to improve the working class and […]
Labour Welfare
How to Calculate Employee Cost? | Cost Accounting
Employee cost should reflect the total cost to the company for compensating employees for their services and also for retaining them. Therefore, employee cost includes both monetary and non-monetary benefits. Employee cost does not include the cost of recruiting and training employees. Examples of monetary benefits are basic salary and dearness pay/allowance; overtime pay; productivity, […]
How to Calculate Employee Turnover? [with Methods]| Cost Accounting
Employee Turnover Rate: Employee turnover refers to the change in the labour force during a specified period. Various methods are used to measure the labour turnover rate. The following are the popular methods for measuring employee turnover rate: Causes of Employee Turnover: Causes of employee turnover may be grouped under the following categories: (a) Personal […]