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Financial Dictionary - Interest payment
Interest payment
In general, remuneration (also known as pay) is considered to be any payment or benefit obtained in exchange for the transfer of professional or intellectual skills, money that is invested in the long term, savings, etc.
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This phrase is used in the employment context to refer to any type of payment or consideration given between two or more participants in exchange for the supply of a service.
This reward is usually associated with a salary; to the payment of a salary that an employer makes to its employees for working in a job. The employee contributes knowledge or labour for the good or for the benefit of the company, and is paid for the employer for doing so.
It can be gross (what the worker earns before any withholdings or commissions are applied by the government) or net (when these contributions have already been deducted).
However, from the point of view of a financial or banking product, this yield refers to all the benefits or gains provided by an asset -be it an investment fund, a deposit, savings account, long-term savings, etc. – by virtue of the fact that it has been taken out. In other words, the profit or gain that the investor achieves.
Types of remuneration
Salary remuneration
This category of earnings includes all benefits received by a person (in this case, an employee) who has been hired by a company, either directly or indirectly (self-employed, freelance, or freelance), in exchange for providing knowledge, intellectual, or professional experience, with the goal of meeting the company's (the employer's) expectations and objectives.
Remuneration in kind
This category includes all social benefits that a worker or employee receives from the company. Thus, in addition to receiving a salary or pay, the employee will receive additional advantages such as transport incentives, lunch vouchers, training, life or health insurance, or a pension plan for himself or herself and his or her family, with special conditions.
In addition to this type of remuneration, the employee will be able to negotiate additional benefits with his or her employer, such as a salary increase from time to time, an annual bonus, holidays, etc.
Proportional remuneration
Also known as a commission wage, this is a percentage of a company's earnings that is distributed proportionally among employees based on their job, seniority, and other factors.