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Compensation Law: Types and
Benefits of Compensation in
Businesses www.rondcoffelattorney.com
State of Illinois
Worker’s Compensation
No one wants to work for half their life and get nothing for it.
Everyone wants to be compensated in a way for a job well
done. This is why some states have decided to create a
programmed that is designated to do just that, an example is
the state of Illinois worker’s compensation.
You may not understand what this entails, as many also may
not and that is what we would be discussing in this article
but first, let’s talk about the state of Illinois work comp laws.
www.rondcoffelattorney.com
Illinois law ensures that employers provide their workers with adequate compensation
insurance for almost every one of them hired, injured or has his/her employment
localized in Illinois.
About The Law
www.rondcoffelattorney.com
What is Compensation?
This refers to any payment given by an employer to
an employee during the period in which they are
employed. The employee in return will give their
time, labour and skills to the employer and the
organization at large.
It can be in any form; salary, wage, benefits,
bonuses, paid leave, pension funds, stock options
and so many more. In some places in the world like
U.S and Canada, compensation can be referred to as
remuneration.
www.rondcoffelattorney.com
What are The Types of
Compensation?
Depending on where your company is or where you are
as an employee, compensation may be of different
types. However, the major types include direct and
indirect compensation.
Before you think of compensating or creating a
compensation plan, you must first understand the
types, mainly because it is your duty and the
organization's duty to explain the compensation plan to
all the candidates and also the employees
www.rondcoffelattorney.com
www.rondcoffelattorney.com
CONTACT US
OUR BENTON LOCATION
502 W. Public Square
Benton, IL 62812
Phone No. 6184392515
Email: roncoffellaw@frontier.com
Thank You for
Watching
www.rondcoffelattorney.com

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State of Illinois Worker’s Compensation

  • 1. Compensation Law: Types and Benefits of Compensation in Businesses www.rondcoffelattorney.com
  • 2. State of Illinois Worker’s Compensation No one wants to work for half their life and get nothing for it. Everyone wants to be compensated in a way for a job well done. This is why some states have decided to create a programmed that is designated to do just that, an example is the state of Illinois worker’s compensation. You may not understand what this entails, as many also may not and that is what we would be discussing in this article but first, let’s talk about the state of Illinois work comp laws. www.rondcoffelattorney.com
  • 3. Illinois law ensures that employers provide their workers with adequate compensation insurance for almost every one of them hired, injured or has his/her employment localized in Illinois. About The Law www.rondcoffelattorney.com
  • 4. What is Compensation? This refers to any payment given by an employer to an employee during the period in which they are employed. The employee in return will give their time, labour and skills to the employer and the organization at large. It can be in any form; salary, wage, benefits, bonuses, paid leave, pension funds, stock options and so many more. In some places in the world like U.S and Canada, compensation can be referred to as remuneration. www.rondcoffelattorney.com
  • 5. What are The Types of Compensation? Depending on where your company is or where you are as an employee, compensation may be of different types. However, the major types include direct and indirect compensation. Before you think of compensating or creating a compensation plan, you must first understand the types, mainly because it is your duty and the organization's duty to explain the compensation plan to all the candidates and also the employees www.rondcoffelattorney.com
  • 6. www.rondcoffelattorney.com CONTACT US OUR BENTON LOCATION 502 W. Public Square Benton, IL 62812 Phone No. 6184392515 Email: roncoffellaw@frontier.com