Hi, May i know the exact difference between these two terms? 1) Salary 2) Compensation. Please through your inputs and give your suggestions. Thanks & Regards, Saravanan
From India, Madras
From India, Madras
I have a rough view. May be it is as follows:
Salary is a contractual amount an employee receives when he enters into a contract with the employer for his services rendered to the company for which he is working.
Compensation is an amount received by the employee as a condolence or help for some misfortune or mishappening he occurred while working either in the company or for the company.
Regards,
Nishant
From India, Delhi
Salary is a contractual amount an employee receives when he enters into a contract with the employer for his services rendered to the company for which he is working.
Compensation is an amount received by the employee as a condolence or help for some misfortune or mishappening he occurred while working either in the company or for the company.
Regards,
Nishant
From India, Delhi
Salary is received in return to the services rendered by an employee to his / her Organization. It is a monetary benfit given to an employee as to motivate them...
Whereas, compensation is a broader term; which not only includes montery benfit as in SALARY but also covers all the non-monetary benfits such as perks, time off etc.
In Short; compensation covers all the monetary & non-monetary benfits received by an employee from his employer..
From Pakistan, Karachi
1Whereas, compensation is a broader term; which not only includes montery benfit as in SALARY but also covers all the non-monetary benfits such as perks, time off etc.
In Short; compensation covers all the monetary & non-monetary benfits received by an employee from his employer..
From Pakistan, Karachi
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Salary & Compensation Guidelines.zip