Did you know? Wages in China are paid "monthly", while wages in Europe and the United States are "paid weekly", and the differences between the two are as follows:
1. Social factors, European and American countries are consumer societies, daily expenses are relatively large, weekly salary can better solve people's daily consumption needs, and their credit card bills are also weekly, if the monthly salary is paid, there will be a problem of overdue.
2. Perfect welfare insurance system, in developed countries such as Europe and the United States, there are few wage arrears. Although ** does not directly intervene in the company's payroll system, it will be indirectly regulated.
3. The concept of salary payment is different, and European and American countries believe that weekly salary can provide timely incentives to employees, and employees are more motivated and efficient. However, there are certain drawbacks to the weekly salary system.
Relatively speaking, the benefits of 'monthly' wages in China:
1, easy to save, Chinese savings consciousness is still very strong, China's savings rate is also among the best in the world, wages are paid monthly, will not be like the weekly salary at will to squander some money to save, to a certain extent, can effectively help people save.
2. The population base is large, and the implementation of weekly salary will increase the financial workload, and the population of European and American countries is small, and the weekly salary will not bring pressure to finance, while China's population is huge, once the weekly salary is implemented, the workload of the Ministry of Finance will be doubled.
3. For enterprises, the financial pressure brought by the weekly salary system is also relatively large. The frequency of wage settlement is relatively high, and enterprises must ensure that there are sufficient funds lying in the account at all times, otherwise it is easy to fail to pay wages.
To sum up, there are obvious differences in the payroll system between China and Europe and the United States. European and American countries are more inclined to the weekly salary system due to the characteristics of consumer society, perfect welfare insurance system and salary payment concept, which can better meet the daily consumption needs of employees and provide incentives in February** dynamic incentive plan. In China, the monthly payment of wages is convenient for saving, adapting to the national conditions of a large population base, and reducing the financial pressure on enterprises. Different countries' payroll systems need to be adapted to their social, economic and cultural contexts to meet their needs and characteristics.
Legal basis]:
Labor Law of the People's Republic of China
Article 48.
The State implements a minimum wage guarantee system. The specific standards of the minimum wage shall be prescribed by the people of the provinces, autonomous regions and municipalities directly under the Central Government, and shall be reported for the record. The wages paid by the employer to the employee shall not be lower than the local minimum wage.