2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
The wage fund is the funds of organizations spent on wages, bonuses and additional incentives for employees for a specific period of time. Payments in kind and in cash are combined with funds that are spent on consumption. In addition, the consumption fund consists of payments for social protection of the population, as well as the costs of maintaining cultural, sports and he althcare facilities.
Funds that are used for consumption also include accruals to the wage fund. It includes amounts accrued by a particular organization or enterprise as remuneration in kind and in cash for the time that was worked out or not worked out. In addition, the payroll includes one-time incentive or compensation payments related to working conditions, as well as bonuses and payments for housing, food and fuel, which are of a regular nature.
Payment for the time that was worked out is subject to payment to the wage fund. It includes wages accrued to employees at a salary, tariff rate or piece rates. In addition, it may be the cost of products that were issued as naturalwages, and remunerations of a periodic or regular nature, as well as incentive salary increases, compensation payments depending on the mode and conditions of work or related to regional regulation of wages, etc.
Pay for time not worked may include the following: annual and additional leave, preferential hours for teenagers, study leave, advanced training and vocational training. In addition, the wage fund pays for the labor of workers who are involved in the performance of public or state duties, as well as those performing agricultural work. This also includes the amounts paid by the organization for the time of forced absenteeism or downtime due to the fault of the enterprise.
Among the one-time incentive payments, there are one-time bonuses, remuneration after summing up the results for the year or in connection with work experience, material assistance to most employees, as well as the cost of shares or benefits for their purchase, issued as an incentive. In addition, additional payments are issued in connection with the receipt of annual leave or monetary compensation in case of refusal to use it, as well as other one-time incentives along with the value of gifts.
The wage fund includes payments for food, lodging and fuel.
Not included in the funds allocated for consumption, but included in the fund: the cost of special meals and workwear, allowances for workers whoallocated for construction, installation and adjustment work, travel expenses. The consumption fund also includes payments made by the social protection fund. These include benefits for pregnancy and child care, in connection with temporary disability, compensation for damages and pensions.
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