Fringe benefits
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Fringe benefits

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Fringe benefits Fringe benefits Presentation Transcript

  • FRINGE BENEFITS BY:- Ihsan Ali
  • CONTENTS
    • Employee Benefits
    • Introduction of fringe benefits
    • Needs for Fringe Benefits
    • Objectives
    • Types of Fringe Benefits
    • Administration of Fringe Benefits
    • Principles of Fringe Benefits
    • Conclusion
    • Employee benefits
    • are various non-wage compensations provided to employees in addition to their normal wages or salaries.
  • Fringe Benefits
    • Extra benefits provided to employees.
    • They are paid to all employees based on their membership.
    • The term fringe benefits refers to the extra benefits provided to employees
  • Main features
    • They are paid to all employees.
    • They are indirect compensation.
    • They help raise the living conditions.
    • They may be voluntary.
  • Need For Fringe Benefits
    • Employee demands
    • Trade Union Demands
    • Employer’s preference
    • As a social security
    • 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
    • Employee security
    • Retrenchment compensation
    • lay off compensation.
    • Personal identification and participation
    • Health protection
    • Old age and retirement benefits
  • Administration of Fringe Benefits
    • Establish Benefit Objectives
    • Assess Environmental Factors
    • Access Competitiveness
    • Communicate Benefit Information
    • Control Benefit Cost and Evaluation
  • Principles of Fringe Benefits
    • Cost effective
    • Must satisfy a real need
    • Sound planning
    • Wishes of employees must be considered
    • Devise new ways to involve workers and their representatives at all levels of planning and implementation.
  • CONCLUSION
    • Basically, a fringe benefit is a benefit provided to an employee or an associate (for example- family, spouse and children) because of his employment.
    • Fringe benefits provide output in terms of employee loyalty and cooperation, employee welfare and create organizational image.
    • THANKXXXX