Remuneration is the pay or other
financial compensation
Financial compensation refers to the act of providing a person with money or other things of economic value in exchange for their goods, labor, or to provide for the costs of injuries that they have incurred. The aim of financial compensation ...
provided in exchange for an
employee
Employment is a relationship between two party (law), parties Regulation, regulating the provision of paid Labour (human activity), labour services. Usually based on a employment contract, contract, one party, the employer, which might be a cor ...
's ''services performed'' (not to be confused with giving (away), or donating, or the act of providing to). Remuneration is one component of
reward management
Reward management is concerned with the formulation and implementation of strategies and policies that aim to reward people fairly, equitably and consistently in accordance with their value to the organization.
Reward management consists of an ...
. 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
In-Commission or commissioning may refer to:
Business and contracting
* Commission (remuneration), a form of payment to an agent for services rendered
** Commission (art), the purchase or the creation of a piece of art most often on behalf of anot ...
*
Employee benefits
Employee benefits and benefits in kind (especially in British English), also called fringe benefits, perquisites, or perks, include various types of non-wage compensation provided to an employee by an employer in addition to their normal wage o ...
*
Employee stock ownership
Employee stock ownership, or employee share ownership, is where a company's employees own shares in that company (or in the parent company of a group of companies). US employees typically acquire shares through a share option plan. In the UK, Em ...
*
Executive compensation
Executive compensation is composed of both the Salary, financial compensation (executive pay) and other non-financial benefits received by an Senior management, executive from their employing firm in return for their service. It is typically a mix ...
**
Deferred compensation
Deferred compensation is an arrangement in which a portion of an employee's wage is paid out at a later date after which it was earned. Examples of deferred compensation include pensions, retirement plans, and employee stock options. The primary ...
*
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.
...
**
Performance-linked incentives
*
Wage
A wage is payment made by an employer to an employee for work (human activity), work done in a specific period of time. Some examples of wage payments include wiktionary:compensatory, compensatory payments such as ''minimum wage'', ''prevailin ...
*
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
Tax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is income tax paid to the government by the payer of the income rather than by the recipient of the income. The tax is thus withheld or deducted from the ...
purposes under
U.S. income tax 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 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
*
*
{{Authority control