“Base salary,” also known as “base pay,” is the fixed amount of money paid to an employee by their employer in exchange for their work. This amount does not include additional compensation such as bonuses, overtime pay, benefits, or any other perks or allowances. The base salary is usually expressed as an annual figure, although […]
The term “basic monthly salary” refers to the fixed amount of money that an employee receives from their employer each month before any additional earnings or deductions. This salary does not include bonuses, overtime pay, allowances, or other types of variable compensation. The basic monthly salary is the foundational component of an employee’s total compensation