Fringe benefits features need objectives types Items under fringe benefits corporate example: Wipro

1. PRESENTED BY:
Gomini Gupta (23-MBA-16)

2. FRINGE BENEFITS
 Fringe benefits refers to the extra benefits provided to
employees in addition to the normal compensation
paid in the form of wage or salary.

3. MAIN FEATURES
 supplementary forms
 paid to all employees
 indirect compensation
 help raise the living conditions
 may be statutory or voluntary

4. Need for Fringe Benefits
 Employee demands.
 Trade unions demands.
 Employer’s preference.
 As a social security.
 To improve human relations.

5. Objectives of Fringe Benefits
 To motivate the employees.
 To provide security to the employees.
 To protect the health of the employees.
 To promote employee’s welfare.
 To create a sense of belongingness.
 To meet the requirements of various legislations
relating to Fringe Benefits.

6. Types of Fringe Benefits
 Payment for time not worked.
 Employee security.
 Safety & health.
 Workmen’s compensation.
 Health benefits.
 Voluntary arrangements.
 Welfare & recreational facilities.
 Old age & retirement benefits.

7. Items covered under fringe
benefits
 As per the Finance Bill, fringe benefits shall be deemed
to have been provided if the employer has incurred
any expense or made any payment for the purposes of:
Entertainment
festival celebrations
Gifts
Use of club facilities

8. Items covered under fringe
benefits
provision of hospitality of every kind to any person
whether by way of food and beverage
maintenance of guest house
Conference
employee welfare
use of health club, sports and similar facilities

9. Items covered under fringe
benefits
sales promotion, including publicity
conveyance, tour and travel, including foreign travel
expenses
consumption of fuel other than industrial fuel
use of telephone
scholarship to the children of the employees

10. FRINGE BENEFITS
OFFERED BY WIPRO
 Cash compensation
 Social security & well-being
 Development & education
 Employee stock purchase program
 5% discount of wipro stocks
 Leave of absence programs

11. FRINGE BENEFITS
OFFERED BY WIPRO
 Relocation program
 Railway half-fare season ticket
 Family service: areas of childcare
 Homecare & eldercare
 Bonus for recommending new employees
 Special conditions for insurance
 Sickness & accident income plan