Remuneration | Meaning and Definition

What is the meaning of remuneration?

An employee or executive receives remuneration in the form of money or other types of compensation for their work. Base salary or wages are usually included, as well as bonuses and commissions, although sometimes tips and expense reimbursements are excluded. Compensation by an employer can be monetary or non-monetary. The pay-in rate is a regular hourly wage or salary plus commissions, bonuses, overtime, holidays, and sick pay.

 

A variety of forms of compensation are available to the employees, including

  1. Salary structure
  2. Bonuses and incentives on a short-term basis.
  3. Provide employees with benefits.
  4. Including reimbursement for expenses.

(Food, Travel, Accommodation, Miscellaneous Expenses, etc.)

  1. Incentive plans for the long term.
  2. Compensation is based on insurance.
  3. Working Overtime.

 

Is remuneration the same as salary?

No, salary is a part of the remuneration. The remuneration of personnel includes the base salary. Reimbursements, bonuses, overtime, etc., are just an addition to the remuneration of an employee.