FRINGE BENEFITS BY:- PRIYANKA SEN GUPTA LEMEI .B. PHOM SOHINI ROY
- Needs for Fringe Benefits
- Administration of Fringe Benefits
- Principles of Fringe Benefits
- Extra benefits provided to employees.
- They are paid to all employees based on their membership.
Need For Fringe Benefits
- To improve human relations
Objectives of Fringe Benefits
- To create and improve sound industrial relations.
- To motivate the employees.
- To provide security to employees.
- To promote employees’ welfare.
- To protect the health of employees.
Types of Fringe Benefits
- Payment for time not worked:- Hours of work; Paid holidays; shift premium; holiday pay; Paid vacation.
- Employee security:- Retrenchment compensation; lay off compensation.
- Welfare and recreational facilities.
- Old age and retirement benefits.
Administration of Fringe Benefits
- Establish Benefit Objectives
- Assess Environmental Factors
- Communicate Benefit Information
- Control Benefit Cost and Evaluation
Principles of Fringe Benefits
- Wishes of employees must be considered
- Devise new ways to involve workers and their representatives at all levels of planning and implementation.