FRINGE BENEFITS BY WAQAR SIDDIQUI
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  • 1. PRESENTATIO N ON FRINGE BENEFITS WAQARUDDINSIDDIQUI 13-MBAK-10HUMAN RESOURCE MANAGEMENT
  • 2. INTRODUCTION Fringe benefit may be defined as “Compensation in addition to direct wages or salaries, such as company car, house allowance, medical insurance, paid holidays, pension schemes, subsidized meals. Some fringe benefits are regarded part of a taxable income. In simple words “Any nonwage payment or benefit granted to employees by employers”
  • 3. PROVIDERS These Benefits can be provided by- 1. YOUR EMPLOYER. 2. AN ASSOCIATE OF YOUR EMPLOYER 3. A THIRD PARTY UNDER AN ARRANGEMENT WITH YOUR EMPLOYER.
  • 4. OBJECTIVES 1.To create and improve sound industrial relations 2.To boost up employee morale. 3.To motivate the employees by identifying and satisfying their unsatisfied needs. 4.To provide qualitative work environment and work life. 5.To provide security to the employees against social risks like old age benefits and maternity benefits.
  • 5. 6.To protect the health of the employees and to provide safety to the employees against accidents. 7.To promote employee’s welfare by providing welfare measures like recreation facilities. 8.To create a sense of belongingness among employees and to retain them. OBJECTIVES
  • 6. Employee demands Trade Union Demands Employer’s preference To improve human relations NEEDS
  • 7. TYPES Employment Security Health Protection Old Age and Retirement Organizations provide a variety of fringe benefits. The fringe benefits are classified under heads as given here under:
  • 8. OTHER BENEFITS • Payment for Time Not worked • Extra Pay for time Worked • Retrenchment Compensation • Lay-off Compensation
  • 9. OFFERED BY • IBM • Wipro • Infosys
  • 10. 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
  • 11. • Family service: areas of childcare • Homecare & eldercare • Bonus for recommending new employees • Special conditions for insurance • Sickness & accident income plan WIPRO
  • 12. • Social security • Development & education • Cash compensation • Providing transit passes & van pooling • Airways fair • Travelling & food
  • 13. • Treasury regulations • Providing maternity leave • Bicycle commuter expenses
  • 14. 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
  • 15. Food Courts, Health Club, Fitness Center with a special enclosure for Aerobics, Golf club. 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 RECREATION FACILITIES
  • 16. 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.
  • 17. SPECIAL THANKS TO 20
  • 18. 21