Glossary:Compensation

From Statistics Explained

The compensation of employees consists of all remuneration, in cash and in kind, which employees receive from their employers in return for work done during the relevant accounting period.

The payments cover:

• gross (pre-tax) wages and salaries;
• employers’ actual social contributions;
• imputed social contributions (those directly supplied by the employers to their employees without involving a social security fund, an insurance enterprise or an autonomous pension fund).

Related concepts

• Labour cost
• Employee