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TYPES OF EMPLOYEE BENEFITS AND SERVICES

Discuss TYPES OF EMPLOYEE BENEFITS AND SERVICES within the Human Resources Management forums, part of the Resolve Your Query - Get Help and discuss Projects category; TYPES OF EMPLOYEE BENEFITS AND SERVICES Employee benefits and services include a motley crowd of fringes starting from accident compensation ...

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TYPES OF EMPLOYEE BENEFITS AND SERVICES
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Sunanda K. Chavan
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TYPES OF EMPLOYEE BENEFITS AND SERVICES - September 14th, 2010

TYPES OF EMPLOYEE BENEFITS AND SERVICES


Employee benefits and services include a motley crowd of fringes starting from accident compensation plans to paid holidays. To hold that a benefit is a fringe, three criteria need to be fulfilled:

1. It should be computable in terms of money.

2. The amount of benefit is not generally predetermined.

3. No contract indicating when the sum is payable should exist.



Going by the three criteria, many items are included in the category of fringes; here is a list of fringes which may be stated as below:

1. Legally required payments:

(i) Old age, survivors, disability, and health insurance (commonly known as social security)

(ii) Worker's compensation

(iii) Unemployment compensation

2. Contingent and deferred benefits

(i) Pension plans

(ii) Group life insurance

(iii) Group health insurance

(a) Medical expenses (hospitalization and surgical)

(b) Disability income (short-term and long-term)

(iv) Guaranteed annual wage

(v) Prepaid legal plans

(vi) Military leave and pay

(viii) Jury duty and bereavement paid leave

(viii) Maternity leave

{ix} Child care leave

(x) Sick leave

(xi) Dental benefits

(xii) Tuition aid benefits

(xiii) Suggestion awards

(xiv) Service awards

(xv) Severance pay



3. Payments for time not marked

(i) Vacations

(ii) Holidays

(iii) Voting pay allowances



4. Other benefits

(i) Travel allowances

(ii) Company car and subsidies

(iii) Moving expenses

(iv) Uniform and tool expenses

(v) Employee meal allowances

(vi) Discounts on employers goods and services

(vii) Child care facilities.
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Business Education
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Re: TYPES OF EMPLOYEE BENEFITS AND SERVICES - June 13th, 2015

Employee is the soul of the company and they should be treated with high importance and dignity.Employee retention is also very much important because when employee leaves the job he. she also takes away the client too. Employee do not only work for monetary purpose, they also have the need that they should be treated with respect and valued.
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Jitendra Mazee
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Re: TYPES OF EMPLOYEE BENEFITS AND SERVICES - April 20th, 2016

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Originally Posted by sunandaC View Post
TYPES OF EMPLOYEE BENEFITS AND SERVICES


Employee benefits and services include a motley crowd of fringes starting from accident compensation plans to paid holidays. To hold that a benefit is a fringe, three criteria need to be fulfilled:

1. It should be computable in terms of money.

2. The amount of benefit is not generally predetermined.

3. No contract indicating when the sum is payable should exist.



Going by the three criteria, many items are included in the category of fringes; here is a list of fringes which may be stated as below:

1. Legally required payments:

(i) Old age, survivors, disability, and health insurance (commonly known as social security)

(ii) Worker's compensation

(iii) Unemployment compensation

2. Contingent and deferred benefits

(i) Pension plans

(ii) Group life insurance

(iii) Group health insurance

(a) Medical expenses (hospitalization and surgical)

(b) Disability income (short-term and long-term)

(iv) Guaranteed annual wage

(v) Prepaid legal plans

(vi) Military leave and pay

(viii) Jury duty and bereavement paid leave

(viii) Maternity leave

{ix} Child care leave

(x) Sick leave

(xi) Dental benefits

(xii) Tuition aid benefits

(xiii) Suggestion awards

(xiv) Service awards

(xv) Severance pay



3. Payments for time not marked

(i) Vacations

(ii) Holidays

(iii) Voting pay allowances



4. Other benefits

(i) Travel allowances

(ii) Company car and subsidies

(iii) Moving expenses

(iv) Uniform and tool expenses

(v) Employee meal allowances

(vi) Discounts on employers goods and services

(vii) Child care facilities.
Hey sunanda, thanks for sharing the information and explaining about the types of employee benefits which can be of any types like health, vision, life, retirement sick leave benefits etc. BTW, i am also uploading a document for giving detailed information on benefits of employee.
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Jayashree Iyer
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Re: TYPES OF EMPLOYEE BENEFITS AND SERVICES - April 28th, 2016

Thanks for sharing such an informative post!! Actually many are unaware of all these and this is definitely an eye opener for them.
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