Question

Distinguish between Piece rate system and Time rate system of remuneration on the following basis:

1. Quality of work
2. Wastage of resources
3. Attitude of Trade Unions
4. Weightage to efficiency

Answer 1

Basis	Piece rate system	Time rate system
Quality of Work	Employees are paid based on the number of units they produce or tasks they complete.	Employees are paid based on the amount of time they work, regardless of the quantity of output.
Wastage of Resources	Payment is linked to output, incentivizing employees to produce more.	Payment is based on time worked, not output.
Attitude of Trade Unions	Earnings depend on individual performance.	Earnings are stable and based on time worked.
Weightage to Efficiency	Directly rewards the number of units produced.	Rewards the amount of time worked rather than output.