Total Remuneration

What is Total Remuneration?

Total remuneration is the total sum of an employee’s annual compensation package. It is inclusive of basic salary, commissions, incentives, and every financial and non-financial benefit. It is taxable income and thus the employer must withhold income taxes.

Two Types Of Remuneration Are There; 1. Direct and 2. Indirect.

• Direct remuneration includes financial benefits.
• Indirect remuneration includes non-financial benefits such as educational opportunities, insurance, childcare assistance, etc.

Total Remuneration Includes:

• Basic Salary
• Bonuses
• Incentives
• Stock Options
• Financial Benefits
• Non-Financial Benefits ( Gym membership, counseling services, etc)
• Pension Plans

Also, See: Reimbursement | Retrenchment