Question

wha do you mean by compensation of employees? give example

Answer 1

Generally,employee compensation is described as any benefit or incentive received by the employee or worker from the employer or hiring company in return for his or her contribution or service to the business or commercial operation of the employer or the hiring organisation.

Explanation:

• Employee compensation is commonly referred to as any financial or non monetary benefits,allowances or incentives obtained by the workers or or employees from the employee or hiring company or organisation as a recognition of their service or contribution to the business or commercial operation of the employer organisation.
• Examples of employee compensation commonly include employee salaries or wages,employee provided or sponsored medical or health insurance,various post retirement benefits,official paid vacations and sick leaves,employee sponsored life and any disability insurance and so forth.
• The examples mentioned in the previous point collectively constitute employee compensation as an official acknowledgment of the services and contributions of the employee and workers in the business operation of the employer organisation.