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  • Fringe Benefits

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    Alex Borges
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    Fringe benefits refer to extra compensation provided to employees beyond normal wages or salary. They include benefits like payment for time not worked, employee security programs, health benefits, and retirement benefits. Fringe benefits are meant to supplement employee compensation, improve living conditions, and meet the demands of employees, unions, and social legislation while helping employers attract and retain talent and build sound labor relations. The objectives of fringe benefits are to motivate employees, provide security, promote welfare, and create a sense of belongingness.

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    42944089-Fringe-Benefits

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    Fringe benefits refer to extra compensation provided to employees beyond normal wages or salary. They include benefits like payment for time not worked, employee security programs, health benefits, and retirement benefits. Fringe benefits are meant to supplement employee compensation, improve living conditions, and meet the demands of employees, unions, and social legislation while helping employers attract and retain talent and build sound labor relations. The objectives of fringe benefits are to motivate employees, provide security, promote welfare, and create a sense of belongingness.

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    13 views5 pages

    Fringe Benefits

    Uploaded by

    Alex Borges
    Fringe benefits refer to extra compensation provided to employees beyond normal wages or salary. They include benefits like payment for time not worked, employee security programs, health benefits, and retirement benefits. Fringe benefits are meant to supplement employee compensation, improve living conditions, and meet the demands of employees, unions, and social legislation while helping employers attract and retain talent and build sound labor relations. The objectives of fringe benefits are to motivate employees, provide security, promote welfare, and create a sense of belongingness.

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    Fringe Benefits

    The term fringe benefits refers to the


    extra benefits provided to employees in
    addition to the normal compensation
    paid in the form of wage or salary.
    Main features

     They are supplementary forms.


     They are paid to all employees.
     They are indirect compensation.
     They help raise the living conditions.
     They may be statutory or voluntary.
    Need for Fringe Benefits

     Employee demands.
     Trade unions demands.
     Employer’s preference.
     As a social security.
     To improve human relations.
    Objectives of Fringe Benefits
     To create & improve sound IR.
     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 FB.
    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.

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