ACCOMMODATION ALLOWANCE Meaning and
Definition
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Accommodation allowance refers to a sum of money or a specific provision made by an employer or an organization to cover or contribute towards the cost of housing or accommodation arrangements for an individual or a group of people. This allowance is typically offered as part of a compensation package or benefits provided to employees, expatriates, students, or any individuals who may require a place to live temporarily or permanently.
The accommodation allowance can vary depending on the nature of the employment, geographical location, and specific needs of the individual or group. It may be provided as a fixed monthly amount, a percentage of the base salary, or as reimbursement of actual expenses incurred for accommodation.
This allowance is intended to assist the individual in meeting the costs associated with renting or owning a residence, such as rent, mortgage payments, utilities, maintenance, property taxes, furniture, and other related expenses. Its purpose is to provide financial support and alleviate the burden of accommodation costs, particularly in areas with high housing prices or limited availability.
The terms and conditions for an accommodation allowance are typically outlined in an employment contract, relocation package, or a specific policy established by an organization. It is crucial for both employers and employees to clearly understand the entitlements, limitations, and regulations associated with accommodation allowances to ensure transparency and compliance with the agreed-upon arrangement.
Common Misspellings for ACCOMMODATION ALLOWANCE
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Etymology of ACCOMMODATION ALLOWANCE
The word "accommodation" is derived from the Latin word "accommodātiō", which can be broken down into two parts: "ad" meaning "to" or "toward" and "commodus" meaning "convenient" or "fitting". Therefore, "accommodation" can be understood as the act of providing something convenient or suitable.
The word "allowance" originates from the Old French term "allouance", which is derived from the word "alouer", meaning "to allocate" or "to assign". It can also be traced back to the Latin word "allaudāre", which means "to praise" or "to approve".
When combined, the term "accommodation allowance" is used to refer to an amount of money allocated or assigned to cover the costs of accommodation, such as rent or housing expenses.
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