Peruskorvaus

Peruskorvaus is a Finnish term that translates to "basic compensation" or "base payment." It refers to the fundamental amount of money paid for a service, work, or as a part of a larger financial agreement. The concept is broad and can be applied in various contexts within Finnish society and law.

In employment law, peruskorvaus often signifies the minimum salary or wage an employee is entitled to, usually stipulated by collective agreements or statutory minimums. This base pay forms the foundation upon which additional compensation, such as bonuses, overtime pay, or allowances, is calculated. It ensures a basic level of financial security for workers.

Beyond employment, peruskorvaus can appear in insurance contexts. For instance, in some insurance policies, it might represent the initial or standard payout for a claim before any deductibles or additional coverage adjustments are made. Similarly, in contract law, it could refer to the agreed-upon fundamental price for goods or services. The specific definition and calculation of peruskorvaus will always depend on the legal framework and the nature of the agreement in question. Its core function is to establish a foundational monetary value.