Remuneration is the pay or other
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.
Kinds of financial compensation in ...
provided in exchange for an
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 ...
's ''services performed'' (not to be confused with giving (away), or donating, or the act of providing to). A number of complementary
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).
Remuneration can include:
Employee benefits and (especially in British English) benefits in kind (also called fringe benefits, perquisites, or perks) include various types of non-wage compensation provided to employees in addition to their normal wages or salaries. I ...
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, Emp ...
Executive compensation is composed of both the financial compensation (executive pay) and other non-financial benefits received by an executive from their employing firm in return for their service. It is typically a mixture of fixed salary, variab ...
** Deferred compensation
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
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 remu ...
* Mandatory compensation
payable by an employer to an employee for the benefit obtained from a patent for an invention made by an employee
Tax withholding, also known as tax retention, Pay-as-You-Go, Pay-as-You-Earn, Tax deduction at source or a ''Prélèvement à la source'', is income tax paid to the government by the payer of the income rather than by the recipient of the income ...
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.