Remuneration
Remunerationis the pay or otherfinancial compensationprovided in exchange for anemployee'sservices performed(not to be confused with giving (away), or donating, or the act of providing to).[1]A number of complementarybenefitsin addition to pay are increasingly popular remuneration mechanisms.[citation needed]Remuneration is one component ofreward management.In the UK, it can also refer to the automatic division of profits attributable to members in a Limited Liability Partnership (LLP).
Types[edit]
Remuneration can include:
- Commission
- Employee benefits
- Employee stock ownership
- Executive compensation
- Salary
- Wage
- Mandatory compensationpayable by an employer to an employee for the benefit obtained from a patent for an invention made by an employee
United States[edit]
For wagewithholdingpurposes underU.S. income taxlaw, the term "wage" means remuneration (with certain exceptions) for services performed by an employee for an employer.[2]
Under thefaithless servantdoctrine, a doctrine under the laws of a number of states in the United States, and most notablyNew 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[edit]
- ^remuneration – WordReference.com Dictionary of English
- ^See generallysubsection (a) of26 U.S.C.§ 3401.
- ^Glynn, Timothy P.; Arnow-Richman, Rachel S.; Sullivan, Charles A. (2019).Employment Law: Private Ordering and Its Limitations.Wolters Kluwer Law & Business.ISBN9781543801064– via Google Books.
- ^Annual Institute on Employment Law.Vol. 2. Practising Law Institute. 2004 – via Google Books.
- ^New York Jurisprudence 2d.Vol. 52. West Group. 2009 – via Google Books.
- ^Labor Cases.Vol. 158. Commerce Clearing House. 2009 – via Google Books.
- ^Ellie Kaufman (May 19, 2018)."Met Opera sues former conductor for $5.8 million over sexual misconduct allegations".CNN.
External links[edit]
The dictionary definition ofremunerationat Wiktionary- The dictionary definition ofemolumentat Wiktionary
