Retroactive pay
Retroactive pay refers to money added to an employee’s paycheck to correct a previous payroll error. If an employee is underpaid, whether due to miscalculated wages, missed raises, or delays in overtime payments, the difference between what was paid and what should have been paid must be reimbursed. This correction is known as retroactive pay. […]
Remuneration
Remuneration refers to the total compensation an employee receives from their employer. This includes not just their base salary or hourly wage, but also any bonuses, commissions, overtime earnings, and other forms of financial reward. Understanding the Full Scope of Remuneration Remuneration represents the gross pay, the full amount an employee earns before taxes and […]