The Payment of wages and Profit-Sharing with a Chapter on Indian Conditions

The University of Calcutta took over the manuscript on the payment of wages and profisharing and to it was added by the wish of the late Sir Asutosh Mookerjee a chapter dealing with the Indian bearings of the subject. [...] The older systems were the time wage and the simple piecework wage but occasionally both the time and the piece systems were accompanied by a share in the product—an early form of profit-sharing—or a bonus varying with the selling price of the product. [...] Thus in spite of the theoretically possible distinctions in the time rate the fact remains that the time system on the whole does not make adequate provision for the employed who is most remunerative from the point of view of the employer. [...] From the point of view of the employer the time system is said to be favourable because of the simplicity of the method of payment. [...] Once the price of the work is set the employer theoretically is not concerned with the time taken on the job or with the worker or the distribution of the work among the workmen.