Fringe benefits by kappi
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Fringe benefits by kappi

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a brief presentation on fringe benefit

a brief presentation on fringe benefit

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Fringe benefits by kappi Fringe benefits by kappi Presentation Transcript

  • FRINGE BENEFITS
    JOSEPH GEORGE
    Reg No:1016057
    II MBA
    AIMIT.
  • Fringe Benefits
    fringe benefits refers to the extra benefits provided to employees in addition to the normal compensation paid in the form of wage or salary.
    • supplementary forms
    • paid to all employees
    • indirect compensation
    • help raise the living conditions
    • may be statutory or voluntary
    Main features
  • Need for Fringe Benefits
    • Employee demands.
    • Trade unions demands.
    • Employer’s preference.
    • As a social security.
    • To improve human relations.
  • Objectives of Fringe Benefits
    To create & improve sound IR.
    To motivate the employees.
    To provide security to the employees.
    To protect the health of the employees.
    To promote employee’s welfare.
    To create a sense of belongingness.
    To meet the requirements of various legislations relating to FB.
  • Types of Fringe Benefits
    • Payment for time not worked.
    • Employee security.
    • Safety & health.
    • Workmen’s compensation.
    • Health benefits.
    • Voluntary arrangements.
    • Welfare & recreational facilities.
    • Old age & retirement benefits.
  • Items covered under fringe benefits
    As per the Finance Bill, fringe benefits shall be deemed to have been provided if the employer has incurred any expense or made any payment for the purposes of:
    entertainment
    festival celebrations
    gifts
    use of club facilities
    provision of hospitality of every kind to any person whether by way of food and beverage
  • (f) maintenance of guest house
    (g) conference
    (h) employee welfare
    (i) use of health club, sports and similar facilities
    (j) sales promotion, including publicity
    (k) conveyance, tour and travel, including foreign travel expenses
  • (o) consumption of fuel other than industrial fuel
    (p) use of telephone
    (q) scholarship to the children of the employees
  • Fringe benefits offered by:
    IBM
    Wipro
    Infosys
  • WIPRO
    Cash compensation
    Social security & well-being
    Development & education
    Employee stock purchase program
    5% discount of wipro stocks
    Leave of absence programs
    Relocation program
    Railway half-fare season ticket
  • Family service: areas of childcare
    Homecare & eldercare
    Bonus for recommending new employees
    Special conditions for insurance
    Sickness & accident income plan
  • Social security
    Development & education
    Cash compensation
    Providing transit passes & van pooling
    Airways fair
    Travelling & food
  • Treasury regulations
    Providing maternity leave
    Bicycle commuter expenses
  • RECREATION FACILITIES
    Gymnasium at Electronics city campus of Infosys at Bangalore is one of the largest gymnasiums in Asia and a mini golf course among others ...
    They even have boating and saloon facilities in their campus so that employees can relax and can take break in their hectic schedules.
    rest and recreation facilities such as a gymnasium, swimming pool, tennis, basketball and volleyball courts, in addition to cafeterias offering international cuisine
  • Food Courts,
    Health Club, Fitness Center with a special enclosure for Aerobics, Golf club.
    Amphitheatre, , a well-stocked Library, High speed connectivity, transportation facilities, stone-laid walking paths connecting each building (or one can use the bicycles provided to move around the campus)
    Medical facilities, Bank, ATMs, Travel Counter.
  • FACILITIES PROVIDED AT MYSORE CAMPUS
    The $120 million Infosys center
    There's a Domino's Pizza, an infinity pool studded with palm trees, and a geodesic dome housing three movie theaters. But the real mission is teaching the Infosys Way to the 15,000 employees the fast-growing company hires a year--an average of 40 a day.
  • SCHOLARSHIP TO THE CHILDREN OF EMPLOYEES
    AS PER THE LAST ANNUAL REPORT, INFOSYS SPEND LOT OF MONEY AS SCHOLARSHIP TO THE CHILDREN OF EMPLOYEES.
  • HEALTH ASSESSMENT PROGRAMMES FOR EMPLOYEES
    Measure to help employees to be proactive about their own health and well being",
    It is also called health assessment and lifestyle enrichment programme. (HALE PROGRAMME)
    Programme includes hobbies, interests, sessions for dance,aerobics, Yoga, painting, and Pranic healing.
    z
  • health check-up facilities from simple tests to cancer screening.
    Lectures on eye care, stress management, skin care and good eating habits
  • OTHER FACILITIES
    • TGIF.
    • OFFSITE TRIPS.
    • CULTURAL PROGRAMMES ,FAMILY DAYS.
    • CHILL OUT EVENING PARTIES.
    • SHOPPING OPTIONS.
    • MEDICAL CENTRES AND ATMS.
    • HOSTELS, HOTELS AND DORMITORIES.
    • MULTIPLEX.
    • FOOTBALL AND CRICKET GROUNDS.
    • MULTIPLEX
    • FOOTBALL AND CRICKET GROUNDS
  • Payment made to a systems engg. In Infosys
    Basic pay:Rs.7730
    Fixed dearness allowance:Rs.1100
    Basket of allowances(medical,children’seducationallowance,transport,HRA,LTA,miscillaneous allowances):Rs.10,470
    Bonus Exgratia:Rs.1670
    Monthly component:Rs.21978
    Annual component:Rs.88
    Retiral benefit(pf):12% basic pay + FDA:Rs.1060
    Grativity:4.8% basic pay + FDA:Rs.425
    Fixed gross salary:Rs.23551
    Training performance linked incentive-(mark=5):15% (Rs.27084);mark=(4.5-5):12.5%(Rs.26495);mark=(4-4.5):10%(Rs.25906)