Base wage rate is the minimum fixed amount of money paid for a job before anything extra is added, like bonuses, allowances, or any such compensation.
Definition of Base wage rate
Base wage rate is the minimum fixed amount of money paid for a job before anything extra is added, like bonuses, allowances, or any such compensation. It ensures that workers get paid adequately for their services.
The pay rate is set according to monthly, bi-weekly or hourly basis and is location specific (different countries, different rates). The rates also change with the position held in the company.
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