What is Compensation

Compensation is the compensation required for the damage caused.

In the workplace, the payment of a severance pay or severance pay. The amount of compensation required depends on the years of service, the daily salary set in the original contract, company policy and the jurisdiction of each country.

The compensations are demands for generally monetary compensation towards any type of institution, organization or company that causes physical or psychological harm to a natural person or legal entity.

The success of the demand for the payment of compensation depends on the laws of each country. Today, there are institutions of consumer defensefor example, that helps people in the process of claiming compensation for abuses by companies that create harm to people who consume their products or services.

Compensation derives from the verb indemnify that comes from the Latin composed of the prefix in- which means negation of an action, the word damnum What does damage mean and the suffix -izare which means “to turn into” therefore the word refers to the cancellation of the damage caused.

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