HR automation

Compulsory, obligatory, and mandatory all refer to requirements, but each has a distinct meaning in HR.

Gross pay is calculated by adding an employee’s total earnings before any taxes or deductions.

Monthly pay is calculated by dividing an employee’s annual salary by 12, or by adding bonuses.

Monthly salary refers to the regular payments provided to employees on a monthly basis.

Basic monthly salary refers to the core wages paid to employees before bonuses or benefits.

Salary is typically considered basic pay, which is the foundation of an employee’s earnings.

Compensation is called such because it reflects the value of an employee’s work and performance.

The compensation rate is the total amount of wages and benefits an employee is paid.

Compensation can affect benefits by influencing the total remuneration package offered to employees.

Compensation income refers to the total wages and benefits an employee receives.