Remuneration
‘The principal aim of remuneration packaging is to legitimately restructure the way in which employees receive income so as to maximise disposable income. This is usually done in such a way that it doesn't impose any additional financial burden on the employer.’ (1)
‘Remuneration is defined as payments made to or for the benefit of a worker; but it's not just wages or salary you need to include in your annual reconciliation statement. Benefits to workers include items such as superannuation contributions, fees or bonuses, footwear, uniform, clothing and/or dry cleaning allowances and living away from home allowances. Then there's accommodation, motor vehicle and travel allowances, annual leave loading and holiday pay, back pay, call out or call back allowances and dirt money.’(2)
‘An employer may refer to remuneration as payroll. In this case, it commonly includes items such as wages, overtime pay, commissions, holiday pay, sick leave pay, meal money, and other expenses.’(3)
“Remuneration is the process which takes place after functions have been ranked and through which a salary structure will be established.”(4)
1. http://www.apesma.asn.au/adviceonline/remuneration/salary_packaging.asp
2http://www.workcover.com/Home/Employers/RegisteredEmployers/Reconciliation/Remuneration.aspx
3. http://wordnetweb.princeton.edu/perl/webwn?s=remuneration
4. Job Evaluation and Remuneration Strategies: How to Set Up and Run an Effective System
5. http://www.hrkpartners.pl/en/images/ef_wyn_en.jpg
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