Salary - A fixed amount of money paid to an employee each year, usually in 12 monthly installments , Time rate pay - Employees are paid for the exact time that they work at a set amount per hour or per day. The more hours or days an employee works the larger wage they will receive., Piece rate pay  - Employees are paid per item they produce. The more productive an employee is the higher the wage they will receive. This will encourage people to work harder and produce more., Commission - Employees are paid a percentage of the value of their sales. Employees are encouraged to sell more as the higher their sales the more commission they will receive., Performance related pay  - Employees who reach a certain standard or achieve a certain target will be given a pay rise., Bonus - Employees are paid an additional amount on top of their basic salary for achieving targets set by the organisation., Overtie - When an employee works more than their agreed hours. Payment is sometimes paid at time, time and a half or double time. ,

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