2. T H I S P L A N W A S O R I G I N A T E D
B Y
F A H A L S E Y ( A N A M E R I C A N
E N G I N E E ) R E C O G N I Z E D
I N D I V I D U A L E F F I C I E N C Y A N D
P A Y S B O N E S O N T H E B A S I C O F
T I M E S A V E .
Halsey premium plan
3.
4. Merits of halsey premium plan
It is simple to understand.
Total earnings of eachworker can be easy to calculate.
Bothemployer and employee get equal benefitof time save.
This systemnot only benefitsefficient workers but also provides average
workers to get guaranteedminimumwages.
This systemis basedon time savedand it can reduce the labour cost.
5. Lack of co-operation among the employee.
Under this system estimated of standard is very difficult.
Earnings are reduced at high level of efficient.
6. formula
Bonus= T*R + 50/100( S – T ) R + DA
T -> time taken
R -> rate per hour
S -> standard time
DA -> dearness allowance
8. Question :
A worker is paid a basic rate of Rs.20 per hour. In
addition he gets Rs.2000 per week of 48 hours as
dearness allowance . He completes a job with
standard time of 60 hours during the week of 48
hours. Ascertain his earning under halsey plan
9. T -> Time taken – 48 hours
R -> Rate per hour – 20 per hour
S -> Standard time – 60 hour
Da -> Dearness Allowance - 2000 per week
Bonus= T*R + 50/100( S – T ) R + DA
= 48*20+ 50/100(60 – 48) 20+2000
= 960 + 0.5 ( 12 ) 20 + 2000
= Rs.3080
