SlideShare a Scribd company logo
FRINGE BENEFITS
• 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..
• 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
• 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
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..
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
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 –
• 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
Thank you…

More Related Content

What's hot

Unit 6—Driving Positive Culture Change
Unit 6—Driving Positive Culture ChangeUnit 6—Driving Positive Culture Change
Unit 6—Driving Positive Culture Change
WINNERS-at-WORK Pty Ltd
 
Performance Counselling
Performance CounsellingPerformance Counselling
Performance Counselling
Sanjiv Kumar
 
Employee Referral
Employee ReferralEmployee Referral
Employee Referral
Hrhelp board
 
Principles and practices of management
Principles and practices of managementPrinciples and practices of management
Principles and practices of management
smumbahelp
 
ITFT-human resource development
ITFT-human resource developmentITFT-human resource development
ITFT-human resource development
niibhapratap
 
RBSE 'Class-12' (B.St - Ch 2) Management: Process, Managerial Role & Levels b...
RBSE 'Class-12' (B.St - Ch 2) Management: Process, Managerial Role & Levels b...RBSE 'Class-12' (B.St - Ch 2) Management: Process, Managerial Role & Levels b...
RBSE 'Class-12' (B.St - Ch 2) Management: Process, Managerial Role & Levels b...
Sandeep Sharma
 
Gloria, grow your staff presentation, week 6
Gloria, grow your staff presentation, week 6Gloria, grow your staff presentation, week 6
Gloria, grow your staff presentation, week 6egglori
 
Employee of the Month Process and Nomination
Employee of the Month Process and NominationEmployee of the Month Process and Nomination
Employee of the Month Process and Nomination
Menes Menes
 
Team management
Team managementTeam management
Team management
Fizah Ali
 
Job rotation
Job rotationJob rotation
Job rotation
Ashish Pandey
 
Mu0016 – performance management and appraisal
Mu0016 – performance management and appraisalMu0016 – performance management and appraisal
Mu0016 – performance management and appraisal
smumbahelp
 
human-resource-management-ppt
human-resource-management-ppthuman-resource-management-ppt
human-resource-management-ppt
jessicalaran1
 
360 - Degrees Performance Evaluation - Najma Kazi
360 - Degrees Performance Evaluation - Najma Kazi360 - Degrees Performance Evaluation - Najma Kazi
360 - Degrees Performance Evaluation - Najma Kazi
Ex-Principal, Educational Consultant
 
Performance management
Performance management  Performance management
Performance management
Nora Sabet
 
Competency & Role Analysis
Competency & Role AnalysisCompetency & Role Analysis
Competency & Role Analysissimply_coool
 
360 degree final ppt
360 degree final ppt360 degree final ppt
360 degree final ppt
Abhijeet Talapatra
 
Chapter 3: Performance Execution
Chapter 3: Performance ExecutionChapter 3: Performance Execution
Chapter 3: Performance ExecutionHRM751
 

What's hot (19)

Unit 6—Driving Positive Culture Change
Unit 6—Driving Positive Culture ChangeUnit 6—Driving Positive Culture Change
Unit 6—Driving Positive Culture Change
 
Performance Counselling
Performance CounsellingPerformance Counselling
Performance Counselling
 
Employee Referral
Employee ReferralEmployee Referral
Employee Referral
 
Principles and practices of management
Principles and practices of managementPrinciples and practices of management
Principles and practices of management
 
ITFT-human resource development
ITFT-human resource developmentITFT-human resource development
ITFT-human resource development
 
RBSE 'Class-12' (B.St - Ch 2) Management: Process, Managerial Role & Levels b...
RBSE 'Class-12' (B.St - Ch 2) Management: Process, Managerial Role & Levels b...RBSE 'Class-12' (B.St - Ch 2) Management: Process, Managerial Role & Levels b...
RBSE 'Class-12' (B.St - Ch 2) Management: Process, Managerial Role & Levels b...
 
Gloria, grow your staff presentation, week 6
Gloria, grow your staff presentation, week 6Gloria, grow your staff presentation, week 6
Gloria, grow your staff presentation, week 6
 
Employee of the Month Process and Nomination
Employee of the Month Process and NominationEmployee of the Month Process and Nomination
Employee of the Month Process and Nomination
 
Team management
Team managementTeam management
Team management
 
Job rotation
Job rotationJob rotation
Job rotation
 
Mu0016 – performance management and appraisal
Mu0016 – performance management and appraisalMu0016 – performance management and appraisal
Mu0016 – performance management and appraisal
 
Pc
PcPc
Pc
 
human-resource-management-ppt
human-resource-management-ppthuman-resource-management-ppt
human-resource-management-ppt
 
360 - Degrees Performance Evaluation - Najma Kazi
360 - Degrees Performance Evaluation - Najma Kazi360 - Degrees Performance Evaluation - Najma Kazi
360 - Degrees Performance Evaluation - Najma Kazi
 
Performance management
Performance management  Performance management
Performance management
 
Competency & Role Analysis
Competency & Role AnalysisCompetency & Role Analysis
Competency & Role Analysis
 
360 degree final ppt
360 degree final ppt360 degree final ppt
360 degree final ppt
 
Chapter 3: Performance Execution
Chapter 3: Performance ExecutionChapter 3: Performance Execution
Chapter 3: Performance Execution
 
Role%20 analysis
Role%20 analysisRole%20 analysis
Role%20 analysis
 

More from Neelam Soni

Indus valley civilization (1)
Indus valley civilization (1)Indus valley civilization (1)
Indus valley civilization (1)
Neelam Soni
 
Baudhayan
BaudhayanBaudhayan
Baudhayan
Neelam Soni
 
Training and its types
Training and its typesTraining and its types
Training and its types
Neelam Soni
 
Training & development
Training & developmentTraining & development
Training & development
Neelam Soni
 
Training & development (1)
Training & development (1)Training & development (1)
Training & development (1)
Neelam Soni
 
Steps in systematic
Steps in systematicSteps in systematic
Steps in systematic
Neelam Soni
 
Republic of congo
Republic of congoRepublic of congo
Republic of congo
Neelam Soni
 
Recognition
RecognitionRecognition
Recognition
Neelam Soni
 
Placement
PlacementPlacement
Placement
Neelam Soni
 
Performance appraisal
Performance appraisalPerformance appraisal
Performance appraisal
Neelam Soni
 
Performance appraisal is the step where the management finds out how effect...
Performance appraisal is the step where the management  finds out how  effect...Performance appraisal is the step where the management  finds out how  effect...
Performance appraisal is the step where the management finds out how effect...
Neelam Soni
 
Performance appraisal (2)
Performance appraisal (2)Performance appraisal (2)
Performance appraisal (2)
Neelam Soni
 
Performance appraisal (1)
Performance appraisal (1)Performance appraisal (1)
Performance appraisal (1)
Neelam Soni
 
Modern methods of performance appraisal
Modern methods of performance appraisalModern methods of performance appraisal
Modern methods of performance appraisal
Neelam Soni
 
Mcq based on cases hrm
Mcq based on cases hrmMcq based on cases hrm
Mcq based on cases hrm
Neelam Soni
 
Job evaluation
Job evaluationJob evaluation
Job evaluation
Neelam Soni
 
Induction
InductionInduction
Induction
Neelam Soni
 
Induction procedure
Induction procedureInduction procedure
Induction procedure
Neelam Soni
 
Incentive plans
Incentive plansIncentive plans
Incentive plans
Neelam Soni
 
Human res. management m. com - i
Human res. management   m. com - iHuman res. management   m. com - i
Human res. management m. com - i
Neelam Soni
 

More from Neelam Soni (20)

Indus valley civilization (1)
Indus valley civilization (1)Indus valley civilization (1)
Indus valley civilization (1)
 
Baudhayan
BaudhayanBaudhayan
Baudhayan
 
Training and its types
Training and its typesTraining and its types
Training and its types
 
Training & development
Training & developmentTraining & development
Training & development
 
Training & development (1)
Training & development (1)Training & development (1)
Training & development (1)
 
Steps in systematic
Steps in systematicSteps in systematic
Steps in systematic
 
Republic of congo
Republic of congoRepublic of congo
Republic of congo
 
Recognition
RecognitionRecognition
Recognition
 
Placement
PlacementPlacement
Placement
 
Performance appraisal
Performance appraisalPerformance appraisal
Performance appraisal
 
Performance appraisal is the step where the management finds out how effect...
Performance appraisal is the step where the management  finds out how  effect...Performance appraisal is the step where the management  finds out how  effect...
Performance appraisal is the step where the management finds out how effect...
 
Performance appraisal (2)
Performance appraisal (2)Performance appraisal (2)
Performance appraisal (2)
 
Performance appraisal (1)
Performance appraisal (1)Performance appraisal (1)
Performance appraisal (1)
 
Modern methods of performance appraisal
Modern methods of performance appraisalModern methods of performance appraisal
Modern methods of performance appraisal
 
Mcq based on cases hrm
Mcq based on cases hrmMcq based on cases hrm
Mcq based on cases hrm
 
Job evaluation
Job evaluationJob evaluation
Job evaluation
 
Induction
InductionInduction
Induction
 
Induction procedure
Induction procedureInduction procedure
Induction procedure
 
Incentive plans
Incentive plansIncentive plans
Incentive plans
 
Human res. management m. com - i
Human res. management   m. com - iHuman res. management   m. com - i
Human res. management m. com - i
 

Hrm

  • 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 – • 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