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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.
Remuneration is a term often used to refer to total cash compensation or total compensation. As noted above, total rewards would include total compensation as well as intangible benefits such as culture, leadership, recognition, workplace flexibility, development and career opportunity.
An individual's remuneration consist of five components; grundløn (lit. "base salary"): base salary derived from education level & seniority kvalifikationsløn (lit. "qualification salary"): additional salary based on qualifications (additional formal or non-formal education, language or social skills etc.)
In the national accounts, in accordance with the System of National Accounts, wages and salaries are the sum of remuneration paid to employees, including the values of any social contributions, income taxes, etc., payable to employees. For administrative convenience, or due to a legal requirement or some other reason all or a part of such ...
"For purposes of this chapter, the term “wages” means all remuneration (other than fees paid to a public official) for services performed by an employee for his employer, including the cash value of all remuneration (including benefits) paid in any medium other than cash;" In addition to requiring that the remuneration must be for "services ...
At a spill meeting all directors current at the time the remuneration report was considered are required to stand for re-election. [61] Independent non-executive director setting of compensation is widely practised. [62] An independent remuneration committee is an attempt to have pay packages set at arms' length from the directors who are ...
In recent years increasing numbers of UK companies have used the tax and national insurance savings gained through the implementation of salary sacrifice benefits to fund the implementation of flexible benefits. In a salary sacrifice arrangement an employee gives up the right to part of the cash remuneration due under their contract of employment.
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 another; A contract for performance or creation of a specific work