Employee Benefits,
Pensions and Allowances
Human Resource Management
Employee Benefits
The objectives of the employee benefits policies and practices of
an organization are to:
 provide an a...
Main Types of Employee Benefits
Continued..
 Personal security: these
are benefits which enhance
the individual’s personal and
family security with regar...
Continued..
 Other benefits: to improve
the standard of living of
employees such as subsidized
meals, clothing allowances...
Pensions
The reasons for having a worthwhile pension scheme are
that it:
 demonstrates that the organization is a good em...
Generally the retiring
age of most companies
is 65.
At this point, employee
gets pension which was
once contributed by
emp...
Allowance
Allowances are paid as an addition to basic pay.
 Location allowances :
housing and other cost of
living.
 Subsistence allowances :
accommodation and meals.

 Overtime ...
This is the main aim of allowance and employee
benefits.
Presentation ByAyush Parekh
Roll Number – 21, SU1
Indian Institute of Planning & Management
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HRS Employee Benefits, Pension and Allowance

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A presentation that emphasize on employee benefits that include employee welfare via pension, allowance, etc.
HRS: Human Resource System

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HRS Employee Benefits, Pension and Allowance

  1. 1. Employee Benefits, Pensions and Allowances Human Resource Management
  2. 2. Employee Benefits The objectives of the employee benefits policies and practices of an organization are to:  provide an attractive and competitive total salary package which both attracts and retains high-quality employees.  provide for the personal needs of employees.  increase the commitment of employees to the organization.  provide people a tax-efficient job.
  3. 3. Main Types of Employee Benefits
  4. 4. Continued..  Personal security: these are benefits which enhance the individual’s personal and family security with regard to illness, health, accident or life insurance.  Financial assistance: loans, house purchase schemes, relocation assistance and discounts on company goods or services.  Personal needs: holidays and other forms of leave, child care, career breaks, retirement counseling, financial counseling and personal counseling.  Company cars and petrol: still a much appreciated benefit in spite of the fact that cars are now more heavily taxed.
  5. 5. Continued..  Other benefits: to improve the standard of living of employees such as subsidized meals, clothing allowances, refund of mobile cost and credit card facilities.  Intangible benefits: characteristics of the organization which contribute to the quality of working life.
  6. 6. Pensions The reasons for having a worthwhile pension scheme are that it:  demonstrates that the organization is a good employer.  attracts and retains high-quality people.  indicates that the organization is concerned about the long-term interests of its employees.
  7. 7. Generally the retiring age of most companies is 65. At this point, employee gets pension which was once contributed by employee and employer both.
  8. 8. Allowance Allowances are paid as an addition to basic pay.
  9. 9.  Location allowances : housing and other cost of living.  Subsistence allowances : accommodation and meals.  Overtime Payments : Extra pay for working extra after working hours or sundays.  Shift Payments : Pay more for late shifts.  Stand by and call out allowances : extra allowance to those who has to come whenever called.
  10. 10. This is the main aim of allowance and employee benefits.
  11. 11. Presentation ByAyush Parekh Roll Number – 21, SU1 Indian Institute of Planning & Management

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