Remuneration

In the class presentation the topic “remuneration” was presented and it gave us a clear understanding of what remuneration essentially was, in my further research of this topic I decided to elaborate on the topic in general in the work force. So what is Remuneration? It’s a form of payment, a salary, a wage or even a reward. The wage is something that remunerates; "wages were paid by check"; "he wasted his pay on drink"; "they saved a quarter of all their earnings". [1] It is also defined as the act of paying for goods or services or to recompense for losses; "adequate remuneration for his work". [2] Remuneration can also be a pay or a salary which is normally monetary payment for services rendered, in an employment. [3]

This can include a base salary or fees, assured and/or anticipated bonus and earning a commission, inducement payments, allowances, sometimes even the advantage of receiving a company car and all other payments and taxable. [4] It could also be a payment for service. [5] It can be a payment prepared for services rendered to a company. Remuneration includes the following; Commission for seeking for an applicant for each applicant, whose request is subject to commission according to the above information, a company is obliged to pay the due expenses according to the following system, except if it is agreed in individual cases. [6] It is frequently called ‘payroll’. Includes wages, commission, bonus, it can be a pay for holidays, vacations, overtime pay and sickness and even payment for section of work. [7]

Remuneration can also be identified as the sum of all direct and indirect cash payments to an employee. It can consist of cash and non-cash rewards such as base pay, health insurance, allowances, childcare allowance, personal use of a company car, superannuation contributions and bonus payments. [8] Also it can actually depend on the professional background of an employee, perhaps even the experience and family circumstances, a competitive compensation and benefits package is obtainable. [9]
Remuneration also means base salary or hourly rate. [10]

The remuneration I have gained in this class is definitely the experience with working with groups, the advantages, the challenges and how to compromise; also the skill gained using Ut3 is one of the biggest rewards I could ever receive.











Reference:
[1] wordnet.princeton.edu/perl/webwn
[2] wordnet.princeton.edu/perl/webwn
[3] en.wikipedia.org/wiki/Remuneration
[4] www.dinosaursunlimited.co.uk/terms.php
[5] www.maine.gov/labor/unemployment/taxglossary.html
[6] www.amazon.de/b
[7] www.safeco.com/safeco/for_your_business/Premium_Audit_Services/prem_audit_glossary.asp
[8] www.workinsight.govt.nz/services/PayAndEmploymentEquity/resources/fact-sheets/fact-sheet-5.asp
[9] unjobs.org/vacancies/1180094507303
[10] www.beautyrecruitment.ie/timesheet/TOB%20Temp.doc