Emoluments definition excludes employer pension/provident contributions and lump sum terminal payments, narrowing taxable employment receipts under tax law. Emoluments means any sum paid or payable to an employee in lieu of employment by whatever name called, but excludes employer contributions to pension, provident or similar funds for the employee's benefit and excludes lump sum termination payments such as gratuity, severance pay, leave encashment, voluntary retrenchment benefits and commutation of pension.