Compensation

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Compensation

Arrangement under which the delivery of goods to a party is paid for by buying back a certain amount of the product from the recipient of the goods.

Compensation

Payment for services rendered. One is due compensation when one has performed a service for an employer or client. Examples of compensation include wages, salaries, tips, fees, and commissions. Compensation is usually the primary component of an individual's tax liability. It is also called remuneration.

compensation

(1) Payment for goods or services.(2) Damages necessary to restore an injured party to his or her position before the wrongdoing.(3) In eminent domain, payment to property owners for the value of the property taken and any damage caused to the value of the remaining property.

Compensation

Wages, commissions, tips, professional fees, and net self-employment income received for services rendered; that is, earned income.
References in periodicals archive ?
Likewise, all six injured of Swabi were given relief cheques besides two out of 27 injured in Kohistan Lower and one of tank district was also compensated.
The officers noted that travel time from their station to the training site was compensated and that the training primarily benefitted the agency.
The first safe harbor for 401(k) plans is satisfied if the employer makes a contribution to the plan of at least three percent of compensation on behalf of each non-highly compensated employee (non-HCE) eligible to participate in the 401(k) plan, without regard to whether or not the non-HCE makes elective deferrals to the plan.
2(a) specifically states that CAS 415 covers deferred compensation except for compensated personal absence, which is how Alias categorizes BV.
Similar limitations are found when it comes to life insurance, as the coverage needs of the highly compensated may often exceed group plan maximums.
Likoni MP Mishi Mboko said those who lived at Dongo Kundu before the plans to put up a manufacturing hub should all be compensated.
In Shangla, heirs of all 49 dead were compensated besides 65 injured out of 184 and 1434 owners of damaged houses against 20687 total affected in the worst hit district of KP.
We now have Colonel Gaddafi, pictured, and his Libyan government talking about compensating the victims of the IRA as they have admitted their involvement in arming the IRA, yet our own Government have compensated one group of POWs but not the others.
However, since their introduction, Congress--almost on an annual basis--has passed laws to reduce the amount of 401 (k) and other qualified plan benefits (profit sharing, money purchase pension, defined benefit) that companies can provide to highly compensated and midlevel executives.
The concern was that the inclusion of these employees would create an added challenge in satisfying these testing requirements, because the employees would often be nonhighly compensated and unable to make deferrals under the terms of the plan until the service requirement was met.
Only 50 years and 50 new specialties later, the general practitioner, now called family practitioner or general internist and trained for three or more years past the MD or DO, is thought to be able to do nothing well and is compensated accordingly.
In general, sections 410(b) and 401(a)(26) require employers to compare participation by, and the level of benefits provided to, highly compensated employees with that of nonhighly compensated employees on an employer-wide basis.