229k views
1 vote
The following types of remuneration are excluded from the Health Services Fund calculation:

A) Overtime pay
B) Bonuses
C) Salary
D) Commissions

User Darrah
by
7.7k points

1 Answer

4 votes

Final answer:

Types of remuneration typically excluded from the Health Services Fund calculation are overtime pay, bonuses, and commissions, while regular salary is included. Employee compensation packages also consist of health benefits, retirement and savings plans, and other legally required benefits.

Step-by-step explanation:

In regard to the Health Services Fund calculation, the types of remuneration that are often excluded include various forms of supplemental pay such as overtime pay, bonuses, and commissions. These types of earnings are considered supplemental as they are not part of the regular salary or wage that an employee earns. On the other hand, a regular Salary is typically included in the calculations for contributions to the Health Services Fund. Compensation packages for employees can be complex, entailing much more than just a base salary. Factors such as health benefits, employment insurance, retirement and savings plans (which may be defined benefit or defined contribution plans), and legally required benefits (such as employer payments to Social Security, unemployment, and worker's compensation insurance) are significant portions of an employee's total compensation. In fact, Table 6.7 from the Bureau of Labor Statistics indicates that about three-quarters of the average hourly compensation for private industry workers is wages and salaries, with the remaining being benefits, which include health insurance and other perks.

User Jared Henderson
by
8.6k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.