The concept of remuneration in the field of the economy and employment refers to the wage or salary in the form of money or kind that a person receives for his work. This amount will depend on what was previously established under a contract and within the legal requirements established by labor law. The collection that an investor obtains for shares or others can also be considered as remuneration. dividendsyou receive.
This money will be delivered by an employer, which can be a private company or a public administration, such as municipalities, central or regional government.
Therefore, the worker receives a remuneration that is agreed with the employer, which will also be subject to legislative regulation. In this section, mention should be made of the minimum wage, where the worker cannot earn less than what the law requires. Said legal protection will not affect workers who carry out their professional activity in an irregular manner or under the submerged economy.
Just as for the employee the remuneration implies an income, for the employers it is a cost. They need to pay these fees to have production, which is what makes it easier for them to obtain the profits.
Forms of remuneration
The definition of remuneration not only makes mention of the money that the professional obtains for their activity, since there is also the salary in kind or to the letter. It stands out for being flexible, since the worker receives as a 'reward' for his professional work a part of the salary in money and another in the form of products or services.
The remuneration is usually paid at the end of the month or at the beginning of the next. In theory, the amount set will be in accordance with the responsibilities and functions that the employee has to develop, in addition to the hours invested. The higher the remuneration, the more motivation the workers will have and the more productive the company will be.