MMPH-007 Compensation and Rewards Management Solved Question Paper June 2023

MMPH-007 Compensation and Rewards Management Solved Question Paper June 2023

Compensation and Rewards Management
Course Code: MMPH-007

1. What are the management responsibilities
regarding the compensation management
programme ? Describe the role of wage
supplements in the compensation policy.
2. Describe the global trends in collective
bargaining and workers’ participation in
management.
[ 2 ]
3. Write an essay on macro and micro policy
frameworks of designing compensation policy
in an industry.
4. Define ‘wages’ under the Wage Code, 2019.
Differentiate between the minimum wage, need
based minimum wage, statutory minimum
wage, fair wage and living wage.
5. What is the difference between a pay
commission and a wage board ? Discuss the
relative merits and demerits of different
methods of wage determination in an industry.
6. Explain the process of pay surveys citing
relevant examples and outline a pay survey
programme.
7. Explain the concept of basic pay, dearness
allowances and fringe benefits. Illustrate.