FRINGE BENEFITS

Fringe benefits are benefits in addition to an employee’s wages, like a company car, health insurance, or life insurance coverage. Any benefit you offer employees in exchange for their services (not including salary) is a fringe benefit.

Types Of Fringe Benefits are:

• Employee security:

It is a job security provides to the employee with a view to promoting security to the employee and his family.

• Retrenchment Compensation:

It is a type of compensation that an employee gets by his employer when he is fired from the job due to the reason other than a punishment.

• Safety And Health:

It includes providing physical security to employees to protect them against accidents, unhealthy working conditions and to protect worker's capacity.

REFERENCE:

BBA III SEM HRM & OB BOOK