Understanding Compensation: Can You Help Clarify Its Meaning and Examples?

What is Compensation?

Hello, Could I have inputs on what exactly "Compensation" is? Its meaning, definition, and examples.

Regards, Gyanendra Kumar

Your question is not clear. The term "Compensation" has lots of meanings. It could refer to remuneration, workers' compensation, damages, psychological compensation, and more. Which specific definition are you seeking? You can find the standard definition on the web itself. Try using the search option.

Hi,

Please go through the book by Tata McGraw Hill by Milkovich on Compensation. You will find all the answers you need, but please note that this book covers the compensation structure of the USA, not India.

Thank you.

Compensation is a reward for labor or service rendered by an individual, whether physical or mental.