Compensatio is a legal principle that allows for the offsetting of mutual debts between two parties. It allows for the cancellation of debts when both parties owe each other money, resulting in a net balance that only requires the payment of the remaining amount. This principle is often applied in contract law and can be used as a defence or counterclaim in a legal dispute.
Compensation refers to the payment or benefits provided to an employee in exchange for their work or services.
There are various types of compensation, including salary, wages, bonuses, commissions, benefits (such as health insurance and retirement plans), and stock options.
Yes, in many jurisdictions, there are minimum wage laws that require employers to pay their employees a certain minimum amount for their work.
In most cases, an employer cannot unilaterally reduce an employee’s compensation without their consent, unless there is a valid reason such as a change in job duties or a downturn in the company’s financial situation.
Fair compensation for a job is typically determined based on factors such as the job’s responsibilities, the employee’s experience and qualifications, and the prevailing market rates for similar positions.
Yes, employees can negotiate their compensation package, including salary, benefits, and other forms of compensation, as part of the hiring process or during performance reviews.
If you believe you are not being fairly compensated, you should first discuss your concerns with your employer. If the issue is not resolved, you may consider seeking legal advice or filing a complaint with the relevant government agency.
In general, an employer should offer equal compensation to employees performing the same job, unless there are legitimate reasons for differences such as experience, qualifications, or performance.
Yes, employers can provide non-monetary compensation such as flexible work schedules, telecommuting options, training and development opportunities, and other perks as part of the overall compensation package.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 5th April 2024.
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