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What kind of compensation is given to employees?
Compensation refers to any payment given by an employer to an employee during their period of employment. In return, the employee will provide their time, labor, and skills. This compensation can be in the form of a salary, wage, benefits, bonuses, paid leave, pension funds, and stock options, and more.
What is also known as compensation?
OTHER WORDS FOR compensation
3 recompense, payment, amends, reparation; requital, satisfaction, indemnification.
What is a pay system in which employees are paid according to the number of units they produce?
A piece rate system is wherein the worker is paid a amount equal to the number of units he/she produces. For example if a worker is paid Rs. 20 per unit and the worker produces 10 units.
What is the meaning of compensation of employees?
In national accounts; compensation of employees (D.1) is defined as as the total remuneration, in cash or in kind, payable by an employer to an employee in return for work done by the latter during an accounting period. (