Supplementary benefits

  • 773 views
Uploaded on

 

  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
773
On Slideshare
0
From Embeds
0
Number of Embeds
0

Actions

Shares
Downloads
15
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide
  • Family and Medical leave Act 1993Firms with more than 30 employees are legally bound in which workers are entitled to 12 weeks of unpaid leave during the 12 months in a year.

Transcript

  • 1. SUPPLEMENTARY BENEFITS NEHA PAUL (500021385) YOGIATA SHARMA (500020829)
  • 2. Employee Benefits & Services O Meaning and Definition O Why Benefits and Services? O Types of Employee Benefits and Services O Principles of Fringes
  • 3. INTRODUCTION O Would the three salespersons and the receptionist work for free? No. O You always have to give things to people in return to what you take from them O Compensation refers to this exchange. O It is a means to attract, motivate and maintain employee
  • 4. COMPENSATION IndirectDirect Benefits & ServicesIncentivesBasic Pay
  • 5. Why Benefits and Services? O To persuade and motivate employee. O Not linked with the employee performance O Includes any benefits employee receive apart from the total direct benefits O Helps increase the wealth and well-being of the employee at the cost of an employer
  • 6. BENEFITS O Indirect Compensation or benefits received from employment that is in addition to the regular, ordinary salary or wages. Supplemental Pay Time-Off Benefits Insurance Benefits Retirement Benefits Types of Employee Benefits
  • 7. Vacations and Holidays Parental Leave Supplemental Unemployment Benefits Supplementa l Pay Benefits Unemployment Insurance Sick Leave Severance Pay Supplemental Benefits Pay For Time Not Worked
  • 8. Insurance Benefits Insurance Benefits Health-Related Insurance • Medical Insurance • Managed Care • Vision Insurance • Dental Insurance • Mental Health Insurance Disability Insurance Short Term Disability Long Term Disability Life Insurance
  • 9. Retirement Benefits Retirement plans to reward long service employees  Contributory Plan: Both employer and employee contribute  Non-Contributory Plan: Employer pays the entire amount. Also includes Early Retirement Retirement Counseling
  • 10. Time- Off Benefits Rest from physical and mental efforts of a job Sick days and Well days Leaves of Absence Time-Off Breaks On the Job breaks Tea break, Meal break etc. Holidays and Vacations Family and Medical leave Act 1993
  • 11. SERVICES O An intangible commodity that the employees find desirable O Usually provided by the organization at no cost to employee or at a significant reduction from what might have to be paid without the organization’s support. O This might include eating facilities, transportation facilities, child care facilities, housing services , educational services, financial services (discount ) etc.
  • 12. BENEFIT v/s SERVICE Applies to those items for which a direct monetary value to the individual employee can be ascertained Applies to items for which a direct money value for the individual employee cannot be readily established
  • 13. Benefits and Services Treats • Picnics • Birthday treats • Festival bashes • Dinner for the family • Coffee breaks • Dinner boss • Free lunches Awards • Certificates • Citations • Plaques • Trophies • Scrolls • Letters of appreciation Knick-knacks • Diaries/Planners • Calendars • Wallets • T-shirts • Company watches • Bags • Desk accessories • Tie-pins/Brooches Tokens • Early time-offs • Movie tickets • Coupons redeemable at stores • Vacation trips • Anniversary and birthday allowances/prese nts
  • 14. THANK YOU! Any queries?????