BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Remuneration is the total compensation received by an employee. It includes not only base salary but any bonuses, commission payments, overtime pay, or other financial benefits that an employee receives from an employer.

Detailed explanation-2: -Compensation of employees (CE) is a statistical term used in national accounts, balance of payments statistics and sometimes in corporate accounts as well. It refers basically to the total gross (pre-tax) wages paid by employers to employees for work done in an accounting period, such as a quarter or a year.

Detailed explanation-3: -Compensation and benefits refers to the compensation/salary and other monetary and non-monetary benefits passed on by a firm to its employees. Compensation and benefits is an important aspect of HRM as it helps to keep the workforce motivated.

Detailed explanation-4: -Compensation is the total pay an employee receives when working. This includes a traditional salary, such as an hourly wage or annual pay. It also includes the value of all benefits, such as insurance plans, tuition assistance and bonus pay.

Detailed explanation-5: -Your salary is called compensation because you are being compensated for being somewhere you’d rather not be, doing something you’d rather not do.