The Commission may compromise any civil penalty or cause or action arising under the provisions of Chapters 27 through 41 of this Title instead of commencing suit thereon and may compromise any such case after suit thereon has been commenced. In such cases the Commission shall keep on file in its office the reasons for settlement by compromise, together with a statement on the amount of contribution imposed, the amount of additional contribution, penalty or interest imposed by law in consequence of neglect or delinquency and the amount actually paid in accordance with the terms of the compromise.