Fringe Benefit Ppt

FRINGE BENEFITS FOR EMPLOYEE 

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SUBMITTED TO :

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DR. SANJEEV MISHRA

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DEFINITION:- fringe benefits are those monetary and nonmonetary benefits given to the employee during and postemployment period which are connected with employment but not to the employees contributions to the organization. For example, you could receive a benefit when you: Ø use a work car for private purposes. Ø are provided with a cheap loan. Ø are provided with free private health insurance. Ø are provided with cleaning services for your private residence or enter into a salary sacrifice arrangement.

Need and importance of fringe benefits Ø To Retain the Employees Ø Employee Demands Ø To Motivate Performance Ø As a social security Ø Trade Union Demand Ø Hazards of Industrial Life Ø Skill shortage 

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Principles of Fringe Benefit Programe Ø Satisfaction of Real Need Ø Flexibility Ø Proper Communication 

Ø Considering the Wishes of Employees Ø Educate the Workers Ø Corporate Tool Ø Participation 

Fringe benefit categories Ø Car fringe benefits Ø Loan fringe benefits Ø Debt waiver fringe benefits Ø Expenses payment fringe benefits Ø Housing fringe benefits Ø Airline transport fringe benefits Ø Living-away-from-home allowance fringe benefits Ø Property fringe benefits Ø Car parking fringe benefits Ø Residual fringe benefit 

Fringe benefit in India :Ø Payments for time not worked Ø Statutory fringe benefits Ø Voluntary benefits Ø Payments for special duties Ø Payments for health and security benefits Ø Other expenditure 

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CONCLUSION

Ø Basically, a fringe benefit is a benefit provided to an employee or an associate (for example- family, spouse and children) because of his employment. 

Ø Fringe benefits provide output in terms of employee loyalty and cooperation, employee welfare and create organizational image.

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