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Fringe benefits are employment benefits not involving direct cash payments such as health insurance, pensions, and car allowances. They are classified into four types: employment security benefits like insurance and leave; health protection benefits like health and life insurance; old age and retirement benefits like pensions and medical benefits for retirees; and personnel identification, participation, and stimulation benefits like educational services and housing. Fringe benefits motivate employees, provide job security, protect health, and create a sense of belongingness to attract and retain employees. They provide advantages to both employers through improved productivity and efficiency, and employees through tax benefits and personal security.
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Fringe benefits
This document discusses fringe benefits provided by employers to employees. It defines fringe benefits as compensation beyond direct wages or salaries, such as company cars, housing allowances, medical insurance, paid time off, and pension plans. The document outlines the objectives of fringe benefits from the employer perspective, including improving employee loyalty, motivation, and morale. It also lists different types of fringe benefits, such as those providing paid time off, employee security, health and safety, and welfare/recreational activities. The document notes that while fringe benefits are popular among employees, they are criticized by some employers due to the incurred costs.
Fringe Benefits ppt by Mr. K.V.Samapth Pavan
This document discusses fringe benefits provided to employees. It defines fringe benefits as monetary and non-monetary benefits given to employees during and after employment that are connected to employment but not directly related to their job contributions. Examples include use of a company car for personal use, cheap loans, free health insurance, and cleaning services. The objectives of fringe benefits are to improve employee morale, motivate performance, provide security, and retain employees. Types of fringe benefits include paid time off, health benefits, retirement benefits, and welfare facilities.
fringe benefit
This document discusses fringe benefits provided by employers. It defines fringe benefits as various non-salary benefits provided in addition to cash wages that are sometimes exempt from taxation. Common fringe benefits include health insurance, life insurance, retirement plans, education reimbursement, and transportation benefits. The document then provides details on specific fringe benefits such as flexible hours, transportation benefits, bonuses, severance pay, adoption assistance, educational assistance, employee assistance programs, and company vehicles. It concludes with a chart summarizing the tax treatment of various fringe benefits under employment taxes.
Fringe benefits
Fringe benefits
features
need
objectives
types
Items under fringe benefits
corporate example: Wipro
fringe benefit
This document defines and discusses fringe benefits provided to employees. It notes that fringe benefits are non-monetary benefits given to employees in addition to their salary, such as a company car or health insurance. The document outlines several examples of fringe benefits and discusses the objectives, needs, importance, principles, types, advantages, and disadvantages of providing fringe benefits to employees.
Fringe benefits
fringe benefits are the benefits given in an organisations as an extra benefits. it includes lot of benefits like extra wages, employment security, health protection, personnel identification, retirement compensation, retrenchment compensation etc.
Fringe benefits and its welfare
Fringe benefits is also known as employee benefits which is provided by the employer to employee additional to the wages, it might in monetary or non monetary terms.
Taxable Fringe Benefits
The document discusses various taxable fringe benefits that employers provide to employees in addition to their salaries. It lists examples of common taxable fringe benefits like housing, vehicles, insurance premiums, and educational assistance. It also discusses specific fringe benefits like housing and vehicle privileges in more detail and provides tax rates for these benefits. Finally, it gives examples of benefits provided by several major Philippine companies like San Miguel Corporation, Colgate-Palmolive, Procter & Gamble, and Tupperware Brands Philippines.
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Fringe benefits
This document discusses fringe benefits provided by employers to employees. It defines fringe benefits as compensation beyond direct wages or salaries, such as company cars, housing allowances, medical insurance, paid time off, and pension plans. The document outlines the objectives of fringe benefits from the employer perspective, including improving employee loyalty, motivation, and morale. It also lists different types of fringe benefits, such as those providing paid time off, employee security, health and safety, and welfare/recreational activities. The document notes that while fringe benefits are popular among employees, they are criticized by some employers due to the incurred costs.
Fringe Benefits ppt by Mr. K.V.Samapth Pavan
This document discusses fringe benefits provided to employees. It defines fringe benefits as monetary and non-monetary benefits given to employees during and after employment that are connected to employment but not directly related to their job contributions. Examples include use of a company car for personal use, cheap loans, free health insurance, and cleaning services. The objectives of fringe benefits are to improve employee morale, motivate performance, provide security, and retain employees. Types of fringe benefits include paid time off, health benefits, retirement benefits, and welfare facilities.
fringe benefit
This document discusses fringe benefits provided by employers. It defines fringe benefits as various non-salary benefits provided in addition to cash wages that are sometimes exempt from taxation. Common fringe benefits include health insurance, life insurance, retirement plans, education reimbursement, and transportation benefits. The document then provides details on specific fringe benefits such as flexible hours, transportation benefits, bonuses, severance pay, adoption assistance, educational assistance, employee assistance programs, and company vehicles. It concludes with a chart summarizing the tax treatment of various fringe benefits under employment taxes.
Fringe benefits
Fringe benefits
features
need
objectives
types
Items under fringe benefits
corporate example: Wipro
fringe benefit
This document defines and discusses fringe benefits provided to employees. It notes that fringe benefits are non-monetary benefits given to employees in addition to their salary, such as a company car or health insurance. The document outlines several examples of fringe benefits and discusses the objectives, needs, importance, principles, types, advantages, and disadvantages of providing fringe benefits to employees.
Fringe benefits
fringe benefits are the benefits given in an organisations as an extra benefits. it includes lot of benefits like extra wages, employment security, health protection, personnel identification, retirement compensation, retrenchment compensation etc.
Fringe benefits and its welfare
Fringe benefits is also known as employee benefits which is provided by the employer to employee additional to the wages, it might in monetary or non monetary terms.
Taxable Fringe Benefits
The document discusses various taxable fringe benefits that employers provide to employees in addition to their salaries. It lists examples of common taxable fringe benefits like housing, vehicles, insurance premiums, and educational assistance. It also discusses specific fringe benefits like housing and vehicle privileges in more detail and provides tax rates for these benefits. Finally, it gives examples of benefits provided by several major Philippine companies like San Miguel Corporation, Colgate-Palmolive, Procter & Gamble, and Tupperware Brands Philippines.
Employee Benefits and Services
This document discusses employee benefits and services provided by Infosys. It describes various fringe benefits such as health insurance, transportation, food services, recreational facilities including a large gymnasium and mini golf course. Profit sharing plans are discussed as a valuable retirement benefit option. Specific services offered by Infosys are detailed like medical centers, ATMs, shopping, cultural programs, offshore trips and sports grounds. The document also provides an example compensation breakdown for a systems engineer at Infosys.
Fringe benefits
The document discusses fringe benefits provided to employees. It defines fringe benefits as monetary and non-monetary benefits given to employees in addition to their wages or salary. Examples include use of a company car for personal use, low-interest loans, free health insurance, and cleaning services. The objectives, need, importance, types, advantages, and disadvantages of fringe benefits are outlined. Benefits in kind are discussed as extras awarded in the form of items or services like a company car, health care, discounts, accommodation, and cheaper food and drink.
Fringe benefits by kappi
Fringe benefits are extra benefits provided to employees in addition to normal compensation like wages or salary. They include things like health insurance, retirement benefits, paid time off, and recreational activities. Major IT companies in India like Infosys, Wipro, and IBM offer fringe benefits to attract and retain top talent. These benefits include health programs, food and transportation subsidies, stock purchase plans, childcare assistance, and extensive on-site amenities like gyms, pools, and entertainment facilities. Fringe benefits help improve employee welfare, motivation, and work-life balance.
FRINGE BENEFITS BY WAQAR SIDDIQUI
This document summarizes fringe benefits provided by employers like IBM, Wipro, and Infosys. It defines fringe benefits as compensation beyond direct wages, such as company cars, medical insurance, and paid holidays. Employers provide fringe benefits to achieve objectives like boosting employee morale, motivation, and retention. Benefits are classified into categories like employment security, health protection, and retirement. The document gives examples of specific benefits various companies offer, such as cash compensation, education programs, health plans, transportation assistance, and recreation facilities like gyms and cafeterias. It concludes that fringe benefits improve employee loyalty, welfare, and the employer's image.
Desighning employee benefits and services
When an organization design overall its compensation program, a critical areas of concern is what benefits to provide. Today’s workers expect more than just an hourly wage or a salary; they want additional considerations that will enrich their lives. These considerations in and employment setting are called employee benefits.
EMPLOYMENT BENEFITS HRM
1. Employee benefits are important for retaining employees and maintaining long term prosperity of a business.
2. Benefits have objectives like improving employee morale, motivating employees, and providing security against risks.
3. Benefits can be categorized as employment security, health protection, old age and retirement, and personnel identification and stimulation.
4. Examples of benefits include insurance, leave, bonuses, medical care, pensions, and recreational activities. However, excessive benefits can cause issues like feelings of paternalism.
Employee benefits and Services in organization
What are the employee benefits and services?
Employee benefits?
what is services?
What is PF, Gratuity?
Why employer will provide benefits to its employee
BENEFITS AND SERVICES ADMINISTRATION
This document provides an outline and overview of employee benefits and services. It begins with an early history of benefits in the United States dating back to 1794. It then defines what employee benefits and services are, including both mandated and non-mandated benefits. Mandated benefits discussed include unemployment insurance, social security, and workers' compensation. Non-mandated benefits include retirement plans, health care, paid time off, and other employee services. The purpose of offering benefits from both the employee and employer perspective is also summarized.
Employee benefits
Employee benefits provide indirect financial and non-financial compensation to employees in addition to their normal wages or salaries. Benefits help drive employee engagement and retention by providing security and incentives to stay during difficult times. There are various types of benefits including paid time off, insurance, retirement plans, and personal services. While costly for companies, benefits are an important part of an employee's total compensation package that can attract and retain talent in the long run.
Labor standards
This document summarizes Philippine labor laws regarding service incentive leave and service charges. It states that employees are entitled to 5 days of paid yearly service incentive leave after at least one year of service. Unused leave can be carried over or commuted to cash. Service charges collected by establishments must be distributed with 85% for employees and 15% for management, and are not included in an employee's basic wage. Proposed legislation would increase service incentive leave to 10 days and require 100% of service charges go to employees.
Compensation final
This document provides an overview of compensation and its key dimensions. It discusses how compensation refers to all forms of pay employees receive in exchange for their contributions. It then outlines the eight main dimensions that make up a total compensation package, including pay for work/performance, time not worked, income continuation if losing one's job, disability, deferred income, spouse/family continuation, health/accident protection, and income equivalent payments. The document also discusses objectives of compensation management and how pay structures are determined.
Pmrs fringe benefits
Fringe benefits refer to extra benefits provided to employees beyond normal wages or salary. They include benefits like healthcare, transportation, housing and retirement benefits. Fringe benefits help increase employee living conditions and welfare while also motivating performance and reducing employee turnover. They are a form of indirect compensation provided by employers to enhance job security, employee satisfaction and industrial relations.
Compensation management
The document discusses various types of benefits and services that companies provide to employees. It covers benefits like employee security, layoff compensation, health and safety programs, retirement benefits, health insurance, paid time off, and other perks. It also discusses future benefits like stock options, flexible work arrangements, and internal investment plans. Effective implementation of benefits requires understanding employee needs, getting feedback, protecting financial interests, and measuring return on investment. Employee leasing can also provide benefits.
Employee benefits and services (Philippines)
This is a brief summary report of the Philippine Employee benefits and services, under the Labor Code of the Philippines. This report excludes the monetary type of compensation, thus, it only focuses on Indirect type of compensation which are the benefits and services of different entities.
Benefits and services
This document discusses various types of benefits and services that companies provide to employees. It covers indirect financial payments like paid time off, insurance benefits, retirement benefits, and services. Specific benefits mentioned include sick leave, health insurance, pensions, childcare, flextime, telecommuting, and more. It also addresses issues around developing a benefits plan such as costs, eligibility, communication. The benefits discussed aim to attract, retain and reward employees while controlling costs for the company.
Human Resource Management Chapter 13 : Employee Benefits
Group 1 Human Resource Management
1. Gusti Ray Kamandanu 1711011012
2. Arpan Maulana 1711011056
3. Ardian Fauzan 1711011106
#HRMFEBUNILA
#hrmfebunila
#FEBUNILA
#febunila
#Kelas_Nova_Mardiana
#kelas_nova_mardiana
#KELAS_NOVA_MARDIANA
Presentation
This document discusses fringe benefits provided to employees. It defines fringe benefits as extra non-wage compensation given to employees in addition to their normal salaries. It outlines the main features of fringe benefits, the need for providing them, objectives of offering fringe benefits, common types of fringe benefits provided, principles for administering fringe benefits, and concludes that fringe benefits help improve employee loyalty and welfare while enhancing an organization's image.
employee benefits
The document discusses employee benefits trends in India. It notes that India has a large and diverse population. Mandatory benefits include provident fund, gratuity, and personal accident insurance. Voluntary benefits include mediclaim, life insurance, and superannuation. Insurance companies offer various products for retirement benefits like defined contribution plans and defined benefit plans. Common retirement benefits provided by employers include leave encashment, gratuity, and superannuation. Trends show life insurance participation and defined contribution plans increasing among employers and employees in India.
Compensations And Pay Roll General View Latest
Compensation includes both direct monetary benefits like salary as well as indirect non-monetary benefits like leave and insurance. Direct compensation refers to benefits like basic salary, bonuses, and medical reimbursements, while indirect compensation includes benefits like leave policies, insurance, and retirement plans. Payroll management involves calculating employee pay and making deductions for taxes, provident funds, and other amounts. Key labor laws regulate minimum wages, working hours, maternity benefits, bonuses, and retirement funds.
Compensation ch 8.ppt
Employee compensation refers to the total rewards provided to employees in exchange for their services. It includes direct financial compensation like salary and wages, as well as indirect financial compensation or benefits like health insurance, retirement plans, and legally mandated benefits. The goals of a compensation program are to attract, retain, and motivate qualified employees while achieving internal and external pay equity. Benefits can increase job satisfaction, reduce absenteeism and turnover, and provide employees with security.
40338677 fringe-benefits-hrm
Fringe benefits are non-wage compensation provided to employees in addition to their salaries or wages. They can include things like health insurance, paid time off, retirement plans, and other perks. Employers provide fringe benefits to attract, retain, and motivate employees. The document outlines different types of fringe benefits like employment security, health protection, retirement benefits, and those related to personnel participation and stimulation. It also discusses the objectives, need, and types of fringe benefits provided by organizations.
Group#07 benefits and services.pptx
The document discusses various employee benefits and services. It outlines different types of benefits including supplemental pay for time not worked like sick leave and vacations. It also discusses insurance benefits like workers compensation and health insurance. Retirement benefits like pensions are also covered. The document provides details on specific benefits like unemployment insurance, parental leave, and severance pay. It also examines flexible benefits programs and work arrangements.
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Employee Benefits and Services
This document discusses employee benefits and services provided by Infosys. It describes various fringe benefits such as health insurance, transportation, food services, recreational facilities including a large gymnasium and mini golf course. Profit sharing plans are discussed as a valuable retirement benefit option. Specific services offered by Infosys are detailed like medical centers, ATMs, shopping, cultural programs, offshore trips and sports grounds. The document also provides an example compensation breakdown for a systems engineer at Infosys.
Fringe benefits
The document discusses fringe benefits provided to employees. It defines fringe benefits as monetary and non-monetary benefits given to employees in addition to their wages or salary. Examples include use of a company car for personal use, low-interest loans, free health insurance, and cleaning services. The objectives, need, importance, types, advantages, and disadvantages of fringe benefits are outlined. Benefits in kind are discussed as extras awarded in the form of items or services like a company car, health care, discounts, accommodation, and cheaper food and drink.
Fringe benefits by kappi
Fringe benefits are extra benefits provided to employees in addition to normal compensation like wages or salary. They include things like health insurance, retirement benefits, paid time off, and recreational activities. Major IT companies in India like Infosys, Wipro, and IBM offer fringe benefits to attract and retain top talent. These benefits include health programs, food and transportation subsidies, stock purchase plans, childcare assistance, and extensive on-site amenities like gyms, pools, and entertainment facilities. Fringe benefits help improve employee welfare, motivation, and work-life balance.
FRINGE BENEFITS BY WAQAR SIDDIQUI
This document summarizes fringe benefits provided by employers like IBM, Wipro, and Infosys. It defines fringe benefits as compensation beyond direct wages, such as company cars, medical insurance, and paid holidays. Employers provide fringe benefits to achieve objectives like boosting employee morale, motivation, and retention. Benefits are classified into categories like employment security, health protection, and retirement. The document gives examples of specific benefits various companies offer, such as cash compensation, education programs, health plans, transportation assistance, and recreation facilities like gyms and cafeterias. It concludes that fringe benefits improve employee loyalty, welfare, and the employer's image.
Desighning employee benefits and services
When an organization design overall its compensation program, a critical areas of concern is what benefits to provide. Today’s workers expect more than just an hourly wage or a salary; they want additional considerations that will enrich their lives. These considerations in and employment setting are called employee benefits.
EMPLOYMENT BENEFITS HRM
1. Employee benefits are important for retaining employees and maintaining long term prosperity of a business.
2. Benefits have objectives like improving employee morale, motivating employees, and providing security against risks.
3. Benefits can be categorized as employment security, health protection, old age and retirement, and personnel identification and stimulation.
4. Examples of benefits include insurance, leave, bonuses, medical care, pensions, and recreational activities. However, excessive benefits can cause issues like feelings of paternalism.
Employee benefits and Services in organization
What are the employee benefits and services?
Employee benefits?
what is services?
What is PF, Gratuity?
Why employer will provide benefits to its employee
BENEFITS AND SERVICES ADMINISTRATION
This document provides an outline and overview of employee benefits and services. It begins with an early history of benefits in the United States dating back to 1794. It then defines what employee benefits and services are, including both mandated and non-mandated benefits. Mandated benefits discussed include unemployment insurance, social security, and workers' compensation. Non-mandated benefits include retirement plans, health care, paid time off, and other employee services. The purpose of offering benefits from both the employee and employer perspective is also summarized.
Employee benefits
Employee benefits provide indirect financial and non-financial compensation to employees in addition to their normal wages or salaries. Benefits help drive employee engagement and retention by providing security and incentives to stay during difficult times. There are various types of benefits including paid time off, insurance, retirement plans, and personal services. While costly for companies, benefits are an important part of an employee's total compensation package that can attract and retain talent in the long run.
Labor standards
This document summarizes Philippine labor laws regarding service incentive leave and service charges. It states that employees are entitled to 5 days of paid yearly service incentive leave after at least one year of service. Unused leave can be carried over or commuted to cash. Service charges collected by establishments must be distributed with 85% for employees and 15% for management, and are not included in an employee's basic wage. Proposed legislation would increase service incentive leave to 10 days and require 100% of service charges go to employees.
Compensation final
This document provides an overview of compensation and its key dimensions. It discusses how compensation refers to all forms of pay employees receive in exchange for their contributions. It then outlines the eight main dimensions that make up a total compensation package, including pay for work/performance, time not worked, income continuation if losing one's job, disability, deferred income, spouse/family continuation, health/accident protection, and income equivalent payments. The document also discusses objectives of compensation management and how pay structures are determined.
Pmrs fringe benefits
Fringe benefits refer to extra benefits provided to employees beyond normal wages or salary. They include benefits like healthcare, transportation, housing and retirement benefits. Fringe benefits help increase employee living conditions and welfare while also motivating performance and reducing employee turnover. They are a form of indirect compensation provided by employers to enhance job security, employee satisfaction and industrial relations.
Compensation management
The document discusses various types of benefits and services that companies provide to employees. It covers benefits like employee security, layoff compensation, health and safety programs, retirement benefits, health insurance, paid time off, and other perks. It also discusses future benefits like stock options, flexible work arrangements, and internal investment plans. Effective implementation of benefits requires understanding employee needs, getting feedback, protecting financial interests, and measuring return on investment. Employee leasing can also provide benefits.
Employee benefits and services (Philippines)
This is a brief summary report of the Philippine Employee benefits and services, under the Labor Code of the Philippines. This report excludes the monetary type of compensation, thus, it only focuses on Indirect type of compensation which are the benefits and services of different entities.
Benefits and services
This document discusses various types of benefits and services that companies provide to employees. It covers indirect financial payments like paid time off, insurance benefits, retirement benefits, and services. Specific benefits mentioned include sick leave, health insurance, pensions, childcare, flextime, telecommuting, and more. It also addresses issues around developing a benefits plan such as costs, eligibility, communication. The benefits discussed aim to attract, retain and reward employees while controlling costs for the company.
Human Resource Management Chapter 13 : Employee Benefits
Group 1 Human Resource Management
1. Gusti Ray Kamandanu 1711011012
2. Arpan Maulana 1711011056
3. Ardian Fauzan 1711011106
#HRMFEBUNILA
#hrmfebunila
#FEBUNILA
#febunila
#Kelas_Nova_Mardiana
#kelas_nova_mardiana
#KELAS_NOVA_MARDIANA
Presentation
This document discusses fringe benefits provided to employees. It defines fringe benefits as extra non-wage compensation given to employees in addition to their normal salaries. It outlines the main features of fringe benefits, the need for providing them, objectives of offering fringe benefits, common types of fringe benefits provided, principles for administering fringe benefits, and concludes that fringe benefits help improve employee loyalty and welfare while enhancing an organization's image.
employee benefits
The document discusses employee benefits trends in India. It notes that India has a large and diverse population. Mandatory benefits include provident fund, gratuity, and personal accident insurance. Voluntary benefits include mediclaim, life insurance, and superannuation. Insurance companies offer various products for retirement benefits like defined contribution plans and defined benefit plans. Common retirement benefits provided by employers include leave encashment, gratuity, and superannuation. Trends show life insurance participation and defined contribution plans increasing among employers and employees in India.
Compensations And Pay Roll General View Latest
Compensation includes both direct monetary benefits like salary as well as indirect non-monetary benefits like leave and insurance. Direct compensation refers to benefits like basic salary, bonuses, and medical reimbursements, while indirect compensation includes benefits like leave policies, insurance, and retirement plans. Payroll management involves calculating employee pay and making deductions for taxes, provident funds, and other amounts. Key labor laws regulate minimum wages, working hours, maternity benefits, bonuses, and retirement funds.
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Human Resource Management Chapter 13 : Employee Benefits
Human Resource Management Chapter 13 : Employee Benefits
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Compensation ch 8.ppt
Employee compensation refers to the total rewards provided to employees in exchange for their services. It includes direct financial compensation like salary and wages, as well as indirect financial compensation or benefits like health insurance, retirement plans, and legally mandated benefits. The goals of a compensation program are to attract, retain, and motivate qualified employees while achieving internal and external pay equity. Benefits can increase job satisfaction, reduce absenteeism and turnover, and provide employees with security.
40338677 fringe-benefits-hrm
Fringe benefits are non-wage compensation provided to employees in addition to their salaries or wages. They can include things like health insurance, paid time off, retirement plans, and other perks. Employers provide fringe benefits to attract, retain, and motivate employees. The document outlines different types of fringe benefits like employment security, health protection, retirement benefits, and those related to personnel participation and stimulation. It also discusses the objectives, need, and types of fringe benefits provided by organizations.
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The document discusses various employee benefits and services. It outlines different types of benefits including supplemental pay for time not worked like sick leave and vacations. It also discusses insurance benefits like workers compensation and health insurance. Retirement benefits like pensions are also covered. The document provides details on specific benefits like unemployment insurance, parental leave, and severance pay. It also examines flexible benefits programs and work arrangements.
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This document discusses current trends in compensation and benefits. It outlines that compensation includes both monetary and non-monetary value provided to employees in exchange for work. Compensation consists of base pay, bonuses, long-term incentives, perks, insurance, leaves, retirement programs and more. Benefits like employee stock ownership plans, flexible benefits, and cafeteria plans allow customization based on employee needs and preferences. Different organizations offer various compensation and benefits such as healthcare, parental leave, flexible hours, on-site services and discounts to attract and retain talent.
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This document discusses current trends in compensation and benefits. It outlines that compensation includes both monetary and non-monetary value provided to employees in exchange for work. Compensation consists of base pay, bonuses, long-term incentives, perks, insurance, leaves, retirement programs and more. Benefits like employee stock ownership plans, flexible benefits, and cafeteria plans allow customization based on employee needs and preferences. Different organizations offer various compensation and benefits such as healthcare, parental leave, flexible hours, on-site services and discounts to attract and retain talent.
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This document discusses various incentives that can be offered to employees, divided into monetary/financial incentives and non-monetary/non-financial incentives. Monetary incentives include regular salary increases, bonuses for meeting targets, profit sharing, stock options, commissions. Non-monetary incentives include recognition, career advancement opportunities, job enrichment, participation in decision making, and job security. The incentives are intended to motivate employees and improve their work efficiency.
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The document discusses employee benefits and services. It outlines various types of benefits like supplemental pay, insurance, retirement benefits, and employee services. It notes that benefits can improve business by increasing loyalty, productivity, and recruitment. Pakistani law requires benefits like paid leave, maternity leave, sick leave, and death grants. Large companies offer robust benefits packages covering health, wellness, financial, and family support. Flexible work arrangements and employee services aim to enhance work-life balance. Overall, benefits are important for employee welfare and organizational productivity.
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This document discusses employee benefits and rewards in India. It covers statutory and supplementary employee benefits in India, including mandatory benefits like Employees' Provident Fund, Employees' State Insurance, Maternity Benefit Act, Payment of Gratuity Act, and Employees' Compensation Act. Supplementary benefits include various types of insurance, paid time off, retirement plans, education assistance, transportation benefits, and other perks. The key statutory benefits are described in further detail.
FRINGE BENEFITS AND INCENTIVES.ppt
The document discusses fringe benefits provided to employees. It defines fringe benefits as extra benefits beyond wages or salary, such as life insurance, medical care, and retirement benefits. The objectives of providing fringe benefits are to improve employee welfare and motivation, boost morale, create a sense of belonging, and retain employees. Fringe benefits are categorized into employment security, health protection, retirement, and participation benefits. The principles of effective fringe benefits include satisfaction of real needs, flexibility, proper communication, and educating workers.
Employment Benefits
What do you offer your employees to keep them satisfied? how do you compare to the market? what areas should you focus on to ensure you become and employer of choice?
ITFT-Employee remuneration
Employee remuneration refers to the compensation and rewards given to employees for their work. It includes wages, salaries, incentives based on productivity, sales or profit, fringe benefits like medical care and provident funds, and perquisites for executives. Remuneration is important because it leads to employee motivation, affects productivity and work performance. The components of remuneration are wages, salaries, individual and group incentives, fringe benefits, and non-monetary benefits like growth opportunities.
types of compensation plan
This document outlines different types of compensation and benefits plans for employees. It discusses base or guaranteed pay, which is the minimum cash amount agreed upon in a job. It also covers variable earnings like commissions and bonuses that depend on performance. Equity compensation involves paying employees with company stock. Benefits can be voluntary, like additional time off or insurance, or mandatory, such as Social Security, unemployment insurance, and workers' compensation. The document provides an overview of common compensation structures and legally required employer benefits.
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Variable compensation how they have impact on organisation, retain employees, motivate employees and its advantages and disadvantages it has to when doing external comparison on the company
This presentation is good to business studies on student
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The document discusses strategic compensation management. It defines compensation as both intrinsic and extrinsic rewards employees receive for their work. Intrinsic rewards come from performing meaningful work, while extrinsic rewards include monetary pay as well as benefits. Compensation includes salaries, wages, perks/benefits, and allowances. Strategic compensation decisions are guided by factors like organizational culture, national culture, and legislation. Compensation strategies must support both human resource strategies and competitive business strategies.
Compensation management & types
This document discusses compensation and benefits for employees. It defines direct compensation as monetary benefits like salary, bonuses, and allowances given regularly. Indirect compensation refers to non-monetary benefits like leave policies, insurance, and retirement benefits. The goal of compensation is to attract, retain, and motivate qualified employees by offering competitive pay and incentives based on job performance. An effective compensation system is designed by considering the organization's goals and balancing both direct and indirect rewards.
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Employee benefits are a crucial aspect to attract, retain and engage talent. In this presentation, we will explore the ins and outs of benefit management.
Non wage component of labour remuneration
This document discusses non-wage forms of employee compensation including monetary benefits like profit sharing and bonuses, and non-monetary benefits like health insurance and paid time off. It provides examples of companies like Starbucks, Hormel Foods, and dentist practices that offer these types of compensation and incentives. Effective incentive plans should be designed to motivate employees and link their compensation to achieving company goals.
Compensation And Benefits
Compensation and Benefits
1. Preface (as one of the major functions of HR)
2. Definition
3. Reference with a reputed organization
4. Objectives
5. Challenges for an employer
6. Basic and Special benefit offerings
7. Ideal Compensation & Benefit Structure
8. Conclusion
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This document outlines the benefits of establishing an employee benefits plan for a small business. It discusses the challenges of attracting and retaining good employees, and positioning presents an employee benefits plan as a great solution. Key benefits of such a plan include helping to attract and retain high quality employees, improve morale, take advantage of tax deductions, and promote health and wellness. The document recommends looking for plans with simple administration, clear communications, and online access. It provides examples of common plan designs and benefits that could be offered. Overall an employee benefits plan is presented as a cost-effective way to financially protect employees' families while making a strong statement about the business.
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Indus valley civilization (1)
The Indus Valley Civilization began around 7000 BCE and reached its peak around 2500-1500 BCE, centered around the large cities of Harappa and Mohenjo-Daro. These cities had populations of around 40,000 people and were carefully planned with grid-like streets and drainage systems. Around 1500 BCE, Aryan groups migrated into the region, influencing the Harappan culture and religion. They established Vedic religion, with its hymns collected in the Rig Veda and concepts of dharma, samsara, and karma. This helped develop the system of castes that stratified Indian society.
Baudhayan
Baudhayana was an ancient Indian mathematician and likely priest who authored the earliest Sulba Sutra, a text that contained geometric rules and the earliest known calculation of pi. The Sulba Sutra provided numerical and geometrical proofs of the Pythagorean theorem, calculating it precisely and solving problems involving circles and squares, yet its contributions were overlooked as later Greek mathematicians incorrectly credited Pythagoras with the theorem.
Training and its types
There are several types of training for employees. Skills training focuses on basic job skills, while orientation training helps new employees become productive more quickly by providing important initial information. Refresher training keeps existing employees up-to-date on the latest methods. Cross-functional training allows employees to gain experience in other roles. Team training and creativity training develop skills for collaborating and problem-solving. The tourism and hospitality industry employs both formal classroom training as well as informal on-the-job training.
Training & development
Training is a short-term process focused on improving current job performance and preparing employees for intended jobs through learning sequenced behaviors. It has specific goals of improving capability, capacity, and performance. Development is a long-term process that improves job performance and facilitates personal growth by imparting knowledge, changing attitudes, and increasing skills. Development focuses on managerial personnel and general knowledge, while training focuses on technical skills for non-managerial personnel. The purpose of training is to improve productivity, quality, organizational climate, health and safety, and personal growth. The purpose of development is to improve managerial performance.
Training & development (1)
Training involves learning behaviors to improve current or future job performance, and has specific goals around capability, capacity, and performance. Development not only improves job skills but also promotes personal growth by helping individuals mature and realize their potential.
The key differences are that training is short-term and job-focused, while development is long-term and aims to impart general knowledge. Training targets non-managerial staff on technical problems, while development is for managers and philosophical concepts.
The purposes of training are to improve productivity, quality, organizational climate, health and safety, and personal growth. Development attempts to impart knowledge, change attitudes, and increase skills in order to improve managerial performance. Education is broader than training and aims to
Steps in systematic
A training plan consists of 7 steps: 1) determining training needs through organizational, task, and manpower analysis; 2) establishing training policies; 3) setting goals and objectives like operational, performance, instructional, and personal growth; 4) preparing a training budget that estimates costs; 5) deciding on a training venue; 6) deciding on training methods and techniques based on job needs, trainee backgrounds, and available resources; 7) determining methods to evaluate training through measuring reactions, testing learning gains, observing performance changes, and measuring results.
Republic of congo
Congo is located in Central Africa, bordered by several countries. Its capital and largest city is Brazzaville. It has a tropical climate with wet and dry seasons. The economy relies on oil production and agriculture. Some key facts are:
- Capital: Brazzaville
- Official language: French
- Bordered by Gabon, Cameroon, Central African Republic, Democratic Republic of Congo and Angola
- Tropical climate with temperatures between 21-27°C and high rainfall in the north
Recognition
This document discusses object recognition and summarizes several key concepts:
1. Object recognition includes tasks like verification, detection, identification, and categorization of objects and scenes.
2. Dimensionality reduction techniques like principal component analysis (PCA) can be used to reduce the dimensionality of image data and extract the most important variations, called eigenfaces, for face recognition.
3. A Bayesian framework can be used for probabilistic classification, where the posterior probability of a class is calculated using the likelihood, prior, and evidence to determine the most probable class.
Placement
Placement involves assigning an accepted job candidate to a specific position that matches their qualifications and abilities, as well as the job demands. It aims to balance the strain of working conditions with compensation, opportunities, and coworker relationships. Effective placement follows principles like considering the job first, matching qualifications, developing loyalty, having placement determined before start dates, and allowing for initial temporary assignments. Challenges can include meeting employee and job expectations, as well as adjusting to changes in technology, organization structure, and social/psychological factors.
Performance appraisal
Performance appraisals systematically evaluate employee performance to understand abilities and potential for growth. Advantages include promotions for efficient workers, compensation packages, developing training programs, validating selection procedures, improving communication, and motivating employees. Limitations are that raters can form impressions based on some characteristics, rate based on a single quality or with excessive strictness or lenience, see all employees as average, let personal biases influence ratings, let past performance influence present ratings, and let recent behavior influence ratings more than past performance.
Performance appraisal is the step where the management finds out how effect...
Performance appraisal is used to evaluate employee performance and determine compensation, promotion, training needs, and other employment decisions. It involves supervisors measuring employees' performance against targets and plans, providing feedback, and guiding improvement. The objectives of performance appraisal include maintaining compensation records, identifying strengths and weaknesses to optimize job placement, assessing potential for growth, and providing feedback. It also serves as a basis for influencing employee behavior and reviewing training programs.
Performance appraisal (2)
Performance appraisal is the systematic evaluation of employees' performance to understand their abilities, rate their performance against organizational goals, and provide direction for growth. There are various methods of performance appraisal including graphic rating scales, where an employee's traits are assessed on a scale; straight ranking, where employees are ranked from best to worst overall performance; and confidential reports, where seniors write detailed confidential reports on subordinates' performance and potential.
Performance appraisal (1)
Performance appraisal, also known as employee appraisal or merit rating, is the systematic evaluation of an employee's job performance and potential for development. It involves measuring an employee's past and present performance both qualitatively and quantitatively against the requirements of their job and work environment. The objectives of performance appraisal include assessing employees' work in relation to job requirements, improving efficiency, determining career potential, providing feedback, and establishing goals to serve as a basis for promotion, training, pay increases, and termination decisions. An effective performance appraisal process should be ongoing, objective, and use standardized forms or methods of evaluation.
Modern methods of performance appraisal
The document discusses three modern methods of performance appraisal: Assessment Centre, Human Resource Accounting, and BARS (Behaviorally Anchored Rating Scales). Assessment Centre involves managers participating in job-related exercises at a central location that are evaluated by trained observers. Human Resource Accounting assigns monetary values to internal human resources and external customer goodwill. BARS anchors rating scales with specific behavioral examples of effective and ineffective performance, developed through a five-step process of generating and reallocating critical incidents and scaling the incidents.
Mcq based on cases hrm
The document is a chapter from a human resources textbook that discusses various strategic human resource challenges that companies face. It covers topics like the changing business environment, workforce trends, organizational challenges, and individual challenges for HR managers. It provides examples and discusses issues like globalization, technology changes, diversity, work-life balance, and matching the right people to jobs and organizations. It also questions test the reader's understanding of these challenges and how HR can address them.
Job evaluation
Job evaluation is a process that determines the relative worth of jobs in an organization to establish equitable wages. It provides an objective method for ranking jobs and removing inequalities. Any disputes over wages can be referred to the job evaluation committee. However, human bias cannot be fully eliminated and evaluations require regular updates as technology changes. Additionally, introducing job evaluation involves substantial costs and changes that concerns may not be able to financially support. It can also introduce inflexibility compared to considering labor supply and demand when determining wages.
Induction
Induction is the process by which an organization socializes new employees and individuals seek to make the organization achieve their personal goals. The objectives of induction are to promote belongingness, build confidence and efficiency, and align individual and organizational goals. An effective induction program provides information about the organization, introduces employees to staff, and creates job security. It covers the organization's history, structure, rules, benefits and more. A good program has introductory information, on-the-job training, and follow up interviews. The document provides an example of an induction program at a hotel that informs employees about company history, structure, policies, benefits and services.
Induction procedure
The document outlines an induction procedure for new employees that includes:
1. Providing a time and place for the new employee to report.
2. Welcoming the new employee and completing any administrative tasks.
3. Conducting an orientation of the department that is supplemented with printed materials and a tour.
It then discusses some common problems with induction such as supervisors not being properly trained, overwhelming the new employee with information, and assigning challenging tasks too soon. Finally, it mentions some induction practices like providing an induction guidebook and supervisor counseling of new reports.
Incentive plans
This document discusses different types of incentive plans that provide monetary benefits to workers for outstanding performance. It describes individual incentive systems that pay workers based on the time taken to complete a task compared to the standard time. Group incentive systems reward all members of a group for increasing their collective performance. The document then examines several specific incentive plans, including Emerson, Halsey, and Rowan plans for individual incentives, and Priestman's, Scalon, co-partnership, and profit sharing plans for group incentives.
Human res. management m. com - i
This document provides an introduction to human resource management, including its objectives, nature, and differences from personnel management. Some key points:
- HRM is concerned with acquiring, developing, motivating, and maintaining human resources to achieve organizational goals. It involves functions like recruitment, training, compensation, and motivation.
- HRM is an inherent part of management performed by all managers, not just a personnel department. It is people-centered and permeates all functional areas.
- The objectives of HRM are to obtain maximum individual development, desirable employee relations, and mold human resources to realize organizational goals effectively.
- HRM differs from traditional personnel management in its strategic focus on human resources as a key
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Performance appraisal is the step where the management finds out how effect...
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Market Signals – Global Job Market Trends – May 2024 summarized!
How did the job market change in May 2024? Selected aspects: Europe (38 countries): +1.23% = 17 European countries saw an increase.
What do the other market signals tell us? Here’s a preview of what we have analyzed so far:
- gathered 18 270 data points
- received over 500 insights from Executives & HR Directors
- published 107 monthly reports, 870 daily updates & 13 special reports
- tracked 80 countries around the world for 48 months!
Check out our post summarizing the changes across 80 countries worldwide for May 2024! It also includes tips for employers and employees – covering e.g. CV for ATS: https://blog.careerangels.eu/market-signals-global-job-market-trends-may-2024-summarized/
#Markets #Jobs #Europe #CareerAngels
HRMantra: AI-Powered HR Automation for the Modern Workplace
HRMantra is a cutting-edge HR technology solution that harnesses artificial intelligence for digital transformation of HR operations. It streamlines processes like attendance management, performance evaluations, project progress tracking, employee database management, and payroll processing with automated income tax & benefit plans calculations. Unlock productivity, compliance automation, and data-driven insights with this innovative HR cloud platform for the future of work.
学校原版(curtin毕业证书)澳洲科廷科技大学毕业证双学位证书原版一模一样
原版定制【微信:bwp0011】《(curtin毕业证书)澳洲科廷科技大学毕业证双学位证书》【微信:bwp0011】成绩单 、雅思、外壳、留信学历认证永久存档查询，采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信bwp0011】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信bwp0011】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
【关于价格问题（保证一手价格）】
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
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Plan events that cater to all personality types! Activities that allow for quieter interaction and personal space can create a more inclusive and supportive atmosphere for all team members and help introverts feel more valued and understood.
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What is Stroke and Its Impact in organization.
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一比一原版(ncsta毕业证书)美国北卡罗莱纳州立大学毕业证如何办理
原版一模一样【微信：741003700 】【(ncsta毕业证书)美国北卡罗莱纳州立大学毕业证成绩单】【微信：741003700 】学位证，留信认证（真实可查，永久存档）原件一模一样纸张工艺/offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原。
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
【主营项目】
一.毕业证【q微741003700】成绩单、使馆认证、教育部认证、雅思托福成绩单、学生卡等！
二.真实使馆公证(即留学回国人员证明,不成功不收费)
三.真实教育部学历学位认证（教育部存档！教育部留服网站永久可查）
四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
如果您处于以下几种情况：
◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【q/微741003700】
◇面对父母的压力，希望尽快拿到；
◇不清楚认证流程以及材料该如何准备；
◇回国时间很长，忘记办理；
◇回国马上就要找工作，办给用人单位看；
◇企事业单位必须要求办理的
◇需要报考公务员、购买免税车、落转户口
◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
办理(ncsta毕业证书)美国北卡罗莱纳州立大学毕业证【微信：741003700 】外观非常简单，由纸质材料制成，上面印有校徽、校名、毕业生姓名、专业等信息。
办理(ncsta毕业证书)美国北卡罗莱纳州立大学毕业证【微信：741003700 】格式相对统一，各专业都有相应的模板。通常包括以下部分：
校徽：象征着学校的荣誉和传承。
校名:学校英文全称
授予学位：本部分将注明获得的具体学位名称。
毕业生姓名：这是最重要的信息之一，标志着该证书是由特定人员获得的。
颁发日期：这是毕业正式生效的时间，也代表着毕业生学业的结束。
其他信息：根据不同的专业和学位，可能会有一些特定的信息或章节。
办理(ncsta毕业证书)美国北卡罗莱纳州立大学毕业证【微信：741003700 】价值很高，需要妥善保管。一般来说，应放置在安全、干燥、防潮的地方，避免长时间暴露在阳光下。如需使用，最好使用复印件而不是原件，以免丢失。
综上所述，办理(ncsta毕业证书)美国北卡罗莱纳州立大学毕业证【微信：741003700 】是证明身份和学历的高价值文件。外观简单庄重，格式统一，包括重要的个人信息和发布日期。对持有人来说，妥善保管是非常重要的。
Top 11 HR Trends for 2024 That Will Change Future of Work
As an HR, it is critical to keep yourself updated with the newer developments to make a smooth transition in the workplace. So, here is a list of top HR trends that will impact the workplace in 2024.
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Lon Denny
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17234 Northcraft Road W
一比一原版(coventry毕业证书)考文垂大学毕业证如何办理
原版一模一样【微信：741003700 】【(coventry毕业证书)考文垂大学毕业证成绩单】【微信：741003700 】学位证，留信认证（真实可查，永久存档）原件一模一样纸张工艺/offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原。
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
【主营项目】
一.毕业证【q微741003700】成绩单、使馆认证、教育部认证、雅思托福成绩单、学生卡等！
二.真实使馆公证(即留学回国人员证明,不成功不收费)
三.真实教育部学历学位认证（教育部存档！教育部留服网站永久可查）
四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
如果您处于以下几种情况：
◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【q/微741003700】
◇面对父母的压力，希望尽快拿到；
◇不清楚认证流程以及材料该如何准备；
◇回国时间很长，忘记办理；
◇回国马上就要找工作，办给用人单位看；
◇企事业单位必须要求办理的
◇需要报考公务员、购买免税车、落转户口
◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
办理(coventry毕业证书)考文垂大学毕业证【微信：741003700 】外观非常简单，由纸质材料制成，上面印有校徽、校名、毕业生姓名、专业等信息。
办理(coventry毕业证书)考文垂大学毕业证【微信：741003700 】格式相对统一，各专业都有相应的模板。通常包括以下部分：
校徽：象征着学校的荣誉和传承。
校名:学校英文全称
授予学位：本部分将注明获得的具体学位名称。
毕业生姓名：这是最重要的信息之一，标志着该证书是由特定人员获得的。
颁发日期：这是毕业正式生效的时间，也代表着毕业生学业的结束。
其他信息：根据不同的专业和学位，可能会有一些特定的信息或章节。
办理(coventry毕业证书)考文垂大学毕业证【微信：741003700 】价值很高，需要妥善保管。一般来说，应放置在安全、干燥、防潮的地方，避免长时间暴露在阳光下。如需使用，最好使用复印件而不是原件，以免丢失。
综上所述，办理(coventry毕业证书)考文垂大学毕业证【微信：741003700 】是证明身份和学历的高价值文件。外观简单庄重，格式统一，包括重要的个人信息和发布日期。对持有人来说，妥善保管是非常重要的。
Why you need to recognize your employees? (15 reasons + tips)
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Top 11 HR Trends for 2024 That Will Change Future of Work
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- 2. • What is Fringe Benefit ?? A fringe benefit is generally defined as a benefit not being salary, wage or other cash remuneration , derived from employment.. Such benefits usually apply more frequently to salaried employees. It does not covered directly by awards or certified agreements. But it includes low interest loans, provision of cars & car allowances , insurance, subsidized meals etc..
- 3. • Types of Fringe Benefits - Fringe benefits are generally classified under four heads – • For Employment Security – This head includes the benefits like - Insurance - Technological Adjustment Pay - Leave Travel Pay - Overtime Pay - Leave for Maternity - Holidays - Cost of living bonus • For Health Protection – This Includes - Accident Insurance - Disability Insurance - Health Insurance - Life Insurance - Medical Care - Sick Leave
- 4. • For Old Age & Retirement – This includes - Pension - Gratuity - Provident Fund - Medical Benefits for retired person - Travelling concession to retired employees - Jobs to sons/daughters • For Personnel Identification, Participation & Stimulation – This includes - Anniversary Awards - Attendance Bonus - Canteen - Educational Services - Housing - Income Tax Aid - Stress Counseling - Safety Measures
- 5. Objectives of Fringe Benefits - • To boost up the employee morale.. • To motivate the employees by identifying & satisfying their unsatisfied needs.. • To provide qualitative work environment & work life.. • To provide security to the employees against social risks like old age benefits and maternity benefits.. • To protect the health of the employees and to provide safety to the employees against accidents.. • To create a sense of belongingness among employees and to retain them.. • To promote the employee welfare by providing welfare measures like recreation facilities..
- 6. Fringe Benefits provided in Make My Trip - • Recharge of employee’s mobile phones • Free treatment facilities • Movie tickets – once or twice in a month • Food coupon - once in a month • Free shopping vouchers
- 7. Advantages of Fringe Benefits - Employer Advantages – • Boost employee’s morale & pride in the company • Helps attract & retain better qualified employees • Provides high risk coverage at low costs easing the company’s financial burden • Improves efficiency & productivity of the employees as they are assured of security of their families & themselves Employee Advantages – • Provides tax benefits • Peace of mind as there is a security for the employee & his family • Employees with personal life insurance enjoy additional protection • Boost staff morale & pride in the company
- 8. Thank you…