Compensation income is income arising out of an employer-employee relationship and encompasses all renumeration for services performed by an employee for his/her employer whether paid in cash or in kind. On the list of income given below, which represent compensation income? with explanation.

1.Professional fees

2.Director's fees

3.Wages for services rendered

4.Pension pay

5.Capital gain on sale of real property

6.Emergency leave pay

7.Vacation and sick leave

8.Honoraria

9.Gratuitous condonation of debt or obligation

10.Commission paid to salesman

11.Retirement pay

12.Bonuses

13.Fringe benefits given by employers to their rank-and-file personnel

14.Emoluments

15.Income tax paid by employer in favor of the employee