Determining Pay Rates Employee compensation refers to all forms of pay or rewards going to employees and arising from their employment.It consists of 2 parts: Direct financial payments Indirect financial payments Can you name examples of direct and indirect payments? ©2004 by UIBE Liu yuxin 8-5© 2004 by UIBE Liu yuxin 8-5 11-5 Determining Pay Rates Employee compensation refers to all forms of pay or rewards going to employees and arising from their employment. It consists of 2 parts: ‹Direct financial payments ‹Indirect financial payments Can you name examples of direct and indirect payments?