The problem is that, unlike exams and stuff, where lots of effort went into studying how long each question should take a 'typical' person, in actual work, the problem hasn't actually been solved before, at least not by the current team, and no-one really knows how long it would take. There's no obvious theoretical objective way of measuring. So, you can waste two thirds of your time on estimating and negotiating times and pays for little micro-projects (which is doable, though at a huge overhead), or simply work normal hours, and check that everyone is approximately working to the best of their ability.
This latter method is by far the easier method, for everyone. I have worked remotely quite a lot, using both methods, and the second method is far more sustainable, in my opinion. (I mean, you just sync your hours with your workmates, and just make sure you're always online in the online chat application; if the company doesnt chat in your absence on online chat, well, it might not be the right company for you; but many do. A lot).