Wages and Salaries

Wages and salaries refer to the compensation paid to employees for their work. Wages are typically calculated based on hours worked and paid weekly or daily, often used for manual or hourly jobs. Salaries are a fixed amount paid regularly, usually monthly or yearly, common for professional or salaried positions. Both forms of compensation include not just the basic pay but may also encompass bonuses, benefits, and deductions. They represent the earnings employees receive in exchange for their labor and expertise, forming a key part of an organization’s expenses and an employee's income.