What is a Salary?
As many know that, a salary is the compensation received by an employee from his/her employer for the time and work he/she has contributed towards the employer’s tasks. Salary is usually paid for a cumulative period, be it hourly, daily, weekly, biweekly or monthly.
In a company, people can be employed as freelancers or as permanent employees. Freelancers may not get the usual permanent employment benefits given by companies such as bonuses, leaves, tax benefits, insurances, unemployment benefits etc. but they are likely to get a higher compensation amount when compared to the salaried employees for the same amount of work done.