Remuneration

Remuneration is the pay or other financial compensation provided in exchange for an employee's services performed (not to be confused with giving (away), or donating, or the act of providing to).^[1] A number of complementary benefits in addition to pay are increasingly popular remuneration mechanisms.^{[citation needed]} 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
  • Performance-linked incentives
• Wage
• 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 law, the term "wage" means remuneration (with certain exceptions) for services performed by an employee for an employer.^[2]

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.^{[3][4][5][6][7]}

References

External links

• The dictionary definition of remuneration at Wiktionary
• The dictionary definition of emolument at Wiktionary

This page was last edited on 20 October 2023, at 16:18