Salary
Topic: Employment, Unemployment and Informalisation · NCERT: Class 6, Ch 13 "The Value of Work"
Meaning
A salary is a fixed, regular payment, usually made monthly, that an employer pays an employee. It does not change with the number of days worked in the month. Salaried jobs usually come with more security and benefits, so a regular salary is one sign of good job quality.
Example
A bank cashier gets the same fixed amount at the end of every month. That is a salary.
Don't confuse with
- Wage: paid for a specific period of work, often daily, such as a mason's daily wage. No work that day usually means no pay.
- Regular salaried employee: an employment-status category. It depends on regular hiring, not on how often the person is paid. A rice-mill worker "paid daily but employed regularly" still counts as a regular employee.
Related concepts
- Economic activities
- Worker
- Workforce
- Wage
- Payment in kind
- Fee
- Employee
- Employer
- Work from home
- Moonlighting