Emolument is a legal term you might see in an employment contract. It refers to compensation for employment or for holding an office. The term derives from the Latin word “emolumentum,” which means a fee paid to a miller for grinding grain.
Characteristics of Emoluments
The term monthly emolument usually refers to someone’s basic salary paid in monthly increments. Suppose your employer says you will receive a monthly emolument of $4,000. This simply means you get paid once a month, and your salary is $4,000 per month. Emoluments can also refer to compensation in a broader sense that includes all of the compensation a person receives. Government agencies may use emolument in this way when referring to pay and other recompense for someone appointed to an official position. When emolument is used to refer to total compensation, it can include bonuses, expense allowances and benefits such as health insurance or pensions.