Wage fund and its composition

The wage fund is the funds of organizations spent on wages, bonuses and additional incentives to employees for a specific period of time. Natural and monetary payments are combined with funds that are directed at consumption. In addition, the consumption fund consists of payments for the social protection of the population, as well as the costs of maintaining cultural, sports and health facilities.

Funds that are directed to consumption include also accruals to the wage fund. It includes the amounts accrued by a certain organization or enterprise, such as wages in kind and in cash for a time that has been worked out or not worked out. In addition, the payroll includes one-time incentive or compensation payments related to working conditions, as well as bonuses and payments for housing, food and fuel, which are of a regular nature.

The payment to the payroll fund is payable for the time that was worked out. It includes salaries paid to employees for salary, tariff rate or piece-rate pricing. In addition, it may be the value of products that have been issued as in-kind payment, and remunerations that are periodic or regular, as well as incentive increments to the salary, compensatory payments that depend on the regime and conditions of work or are connected with the district regulation of labor remuneration and etc.

To pay for time that was not worked out, it is possible to carry the following: annual and additionally granted holidays, preferential watches for teenagers, educational holidays, improvement of professional skill and vocational training. In addition, the payroll fund pays for the work of employees who are involved in the performance of public or state duties, as well as performing agricultural work. Also here are the amounts paid by the organization for the time of forced absenteeism or simply due to the fault of the enterprise.

Among the one-time incentive payments, one-time bonuses, a reward after summing up for the year or in connection with the length of service, financial assistance to the majority of employees, as well as the cost of shares or incentives for their acquisition, issued as incentives. In addition, additional payments are given in connection with the receipt of annual leave or monetary compensation in case of refusal to use it, as well as other one-off incentives along with the value of gifts.

The compensation fund includes payments for food, accommodation and fuel.

They are not included in the funds that are directed to consumption, but are included in the fund: the cost of special food and work clothes, allowances for workers who are directed to construction, installation and commissioning, travel expenses. Also, the consumption fund includes payments made by the social protection fund. These include benefits for pregnancy and childcare, due to temporary incapacity for work, compensation for damages and pensions.