Money and benefit expenses that are paid to employees for their work are known as Compensation.
Employee benefit expenses
Employee expenses are costs incurred as a result of duties performed for an employer. Employee Benefit Expenses are costs incurred on behalf of employees. It comprises expenses such as salary and wages, contributions to the Provident Fund, employee welfare, and so on.
What exactly do you mean by compensation?
A monetary payment provided to an employee in exchange for services is referred to as compensation. Employees earn their compensation in the workplace. It includes income or wages, commission, and any incentives or privileges that come with the employment of the specified employee.
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