Remuneration Law and Legal Definition
Remuneration is the total of the financial and nonfinancial benefits to the employee of all the elements in the employment package. The substantive law on wages and remuneration covers such elements as forms and methods of payment, the protection of wages against unlawful deductions and other abuses, minimum wage arrangements, and other topics.
Remuneration has historically included payroll as well as other forms of employee compensation. Most states, however, rely on the National Council on Compensation Insurance (NCCI) to determine remuneration. NCCI's definition of remuneration includes forms of employee compensation, such as:
- Salary or hourly pay
- Commissions
- Bonuses
- Overtime pay, less the premium portion
- Holiday, vacation and sick pay
- Rental value of employer-provided housing
- Value of employer-provided meals and lodging
- Time worked and accrued vacation upon dismissal
- Piecework, incentive plans, and profit-sharing plans
- Value of store certificates, merchandise or credits given to employees
