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 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
- Compensation methods in online advertising and internet marketing
- Employee benefits
- Employee stock ownership
- Executive compensation
- Salary
- Performance-linked incentives
- Wage
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]
Misspelling
The word "remuneration" is occasionally misspelled as "renumeration", which means counting or re-counting.
References
- ^ remuneration – WordReference.com Dictionary of English
- ^ See generally subsection (a) of 26 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. ISBN 9781543801064 – via Google Books.
- ^ Annual Institute on Employment Law. 2. Practising Law Institute. 2004 – via Google Books.
- ^ New York Jurisprudence 2d. 52. West Group. 2009 – via Google Books.
- ^ Labor Cases. 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
The dictionary definition of remuneration at Wiktionary- The dictionary definition of emolument at Wiktionary
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