Benefits and services Module 5
Benefit <ul><li>Benefits are considered to be the major factor in attracting and retaining employees </li></ul>
<ul><li>Definition </li></ul><ul><li>“ Any wage cost not directly connected with employees’ productive, effort, performanc...
Types of employee benefits and services <ul><li>Legally required payment </li></ul><ul><li>Old age pension </li></ul><ul><...
<ul><li>Contingent and deferred </li></ul><ul><li>Pension plan </li></ul><ul><li>Group life insurance  </li></ul><ul><li>M...
<ul><li>Payment for time not worked </li></ul><ul><li>Vacation </li></ul><ul><li>Holidays </li></ul><ul><li>Voting pay all...
<ul><li>Paid rest periods </li></ul><ul><li>Waste-up time  </li></ul><ul><li>Lunch periods </li></ul><ul><li>Christmas bon...
Insurance benefits: <ul><li>Life and health insurance  is a valuable benefit to offer the employees. It can often be easy ...
<ul><li>Other types of insurance sometimes offered as employee benefits include: </li></ul><ul><li>Private medical insuran...
Retirement Benefits: <ul><li>These benefits are provided by good employers, even before compulsion through legislation. Th...
Types of RETIREMENT PLAN: <ul><li>Retirement on Superannuation  </li></ul><ul><li>Voluntary Retirement  </li></ul><ul><li>...
Retirement on Superannuation <ul><li>Employee retire from service on superannuation, on completion of 58 years of age.  If...
Voluntary Retirement <ul><li>An employee, who has attained the age of 50 years or who has completed 20 years of qualifying...
Compulsory Retirement as a measure of punishment <ul><li>An employee may be retired compulsorily as a measure of punishmen...
Compulsory Retirement due to Administrative Reason: <ul><li>The appropriate authority have the absolute right to retire an...
Removal/Dismissal from Service  <ul><li>An employee can be removed or dismissed from service, on the ground of misconduct ...
Retirement due to invalidation on Medical Ground <ul><li>Invalid pension is granted to an employee, who is by physical or ...
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Mod 5

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Mod 5

  1. 1. Benefits and services Module 5
  2. 2. Benefit <ul><li>Benefits are considered to be the major factor in attracting and retaining employees </li></ul>
  3. 3. <ul><li>Definition </li></ul><ul><li>“ Any wage cost not directly connected with employees’ productive, effort, performance, service or sacrifice” </li></ul><ul><li>- Belcher </li></ul>
  4. 4. Types of employee benefits and services <ul><li>Legally required payment </li></ul><ul><li>Old age pension </li></ul><ul><li>Disability pension </li></ul><ul><li>Unemployment Insurance </li></ul><ul><li>Workers compensation </li></ul>
  5. 5. <ul><li>Contingent and deferred </li></ul><ul><li>Pension plan </li></ul><ul><li>Group life insurance </li></ul><ul><li>Maternity leave </li></ul>
  6. 6. <ul><li>Payment for time not worked </li></ul><ul><li>Vacation </li></ul><ul><li>Holidays </li></ul><ul><li>Voting pay allowance </li></ul>
  7. 7. <ul><li>Paid rest periods </li></ul><ul><li>Waste-up time </li></ul><ul><li>Lunch periods </li></ul><ul><li>Christmas bonus </li></ul>
  8. 8. Insurance benefits: <ul><li>Life and health insurance is a valuable benefit to offer the employees. It can often be easy and relatively cheap to provide, and plays a major role in helping employees attract and retain good quality staff. </li></ul><ul><li>It is possible to buy life insurance for employees individually, but more commonly businesses take out life insurance for a whole group of employees. This is called group life insurance and can be arranged alone, though it is also often found linked to a pension arrangement. </li></ul>
  9. 9. <ul><li>Other types of insurance sometimes offered as employee benefits include: </li></ul><ul><li>Private medical insurance - pays for the treatment of agreed acute conditions. </li></ul><ul><li>Income protection - pays regular income to employees who are unable to work because of illness or injury. </li></ul>
  10. 10. Retirement Benefits: <ul><li>These benefits are provided by good employers, even before compulsion through legislation. There benefits generally consist of providing schemes for pension funds, provident fund and gratuity. </li></ul>
  11. 11. Types of RETIREMENT PLAN: <ul><li>Retirement on Superannuation </li></ul><ul><li>Voluntary Retirement </li></ul><ul><li>Compulsory Retirement as a measure of punishment </li></ul><ul><li>Compulsory Retirement due to Administrative Reason </li></ul><ul><li>Death While in Service </li></ul><ul><li>Retirement due to invalidation on Medical Ground </li></ul><ul><li>Resignation From Service </li></ul><ul><li>Removal/Dismissal from Service </li></ul>
  12. 12. Retirement on Superannuation <ul><li>Employee retire from service on superannuation, on completion of 58 years of age. If the date of completion of 58 years of age falls on anyone of the dates of the month, the retirement date will be the last date of the month. </li></ul>
  13. 13. Voluntary Retirement <ul><li>An employee, who has attained the age of 50 years or who has completed 20 years of qualifying service, may retire from service, by giving a notice of not less than three months, in writing, direct to the appointing, authority, with a copy marked to his immediate superior Officer. Before giving such notice he may satisfy himself by means of a reference to such authority, that he has completed the required minimum number of years or qualifying service. </li></ul>
  14. 14. Compulsory Retirement as a measure of punishment <ul><li>An employee may be retired compulsorily as a measure of punishment. The authorities, who propose to impose the punishment of compulsory retirement, shall satisfy themselves, after verifying the service Book of the employee concerned, that he has put in not less than 10 years of qualifying service, to make him eligible for pension. Any order passed without ascertaining the fact whether he is entitled to draw pension, will be bad in law. </li></ul>
  15. 15. Compulsory Retirement due to Administrative Reason: <ul><li>The appropriate authority have the absolute right to retire any Board employee compulsorily, by giving him notice of not less than three months in writing or three months pay and allowances in lieu of such notice, at any time after he has completed 30 years of qualifying service or he has attained the age of 50 years. </li></ul>
  16. 16. Removal/Dismissal from Service <ul><li>An employee can be removed or dismissed from service, on the ground of misconduct which has led to his conviction on a criminal charge. Employees, who had been in continuous unauthorised absence from duty for more than 5 years, may be removed from service. </li></ul>
  17. 17. Retirement due to invalidation on Medical Ground <ul><li>Invalid pension is granted to an employee, who is by physical or mental infirmity, permanently incapacitated for public service. </li></ul><ul><li>If the infirmity is curable and the employees refuses to get cured by operation or otherwise, no pension or gratuity need be admitted if the competent authority decides so on merits. </li></ul>

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