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 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-3: -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.

Detailed explanation-4: -Base pay is just one part of your employees’ total compensation and defined as the initial pay received by an employee before taxes and other deductions. Bonuses, overtime, tips, commissions, and other types of compensation mentioned above are not part of base pay but come under total compensation.

Detailed explanation-5: -There are two types of compensation: Direct compensation (financial) Indirect compensation (combination of financial and non-financial)