Remuneration is the pay or other
financial compensation provided in exchange for an
employee
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any o ...
's ''services performed'' (not to be confused with giving (away), or donating, or the act of providing to). A number of complementary
benefits
Benefit or benefits may refer to:
Arts, entertainment and media
* ''Benefit'' (album), by Jethro Tull, 1970
* "Benefits" (''How I Met Your Mother''), a 2009 TV episode
* '' The Benefit'', a 2012 Egyptian action film
Businesses and organisatio ...
in addition to pay are increasingly popular remuneration mechanisms. Remuneration is one component of
reward management. In the UK it can also refer to the automatic division of profits attributable to members in a Limited Liability Partnership (LLP).
Types
Remuneration can include:
*
Commission
*
Employee benefits
*
Employee stock ownership
*
Executive compensation
**
Deferred compensation
*
Salary
A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis.
F ...
**
Performance-linked incentives
*
Wage
A wage is payment made by an employer to an employee for work done in a specific period of time. Some examples of wage payments include compensatory payments such as ''minimum wage'', '' prevailing wage'', and ''yearly bonuses,'' and remun ...
*
Mandatory compensation payable by an employer to an employee for the benefit obtained from a patent for an invention made by an employee
United States
For wage
withholding purposes under
U.S. income tax
Income taxes in the United States are imposed by the federal government, and most states. The income taxes are determined by applying a tax rate, which may increase as income increases, to taxable income, which is the total income less allowa ...
law, the term "wage" means remuneration (with certain exceptions) for services performed by an employee for an employer.
[''See generally'' subsection (a) of .]
Under the
faithless servant
The faithless servant doctrine is a doctrine under the laws of a number of states in the United States, and most notably New York State law, pursuant to which employees who act unfaithfully towards their employers must forfeit to their employers a ...
doctrine, a doctrine under the laws of a number of states in the United States, and most notably
New York State law, an employee who acts unfaithfully towards his or her employer must forfeit all remuneration received during the period of disloyalty.
References
External links
*
*{{wiktionary-inline, emolument