Employees Benefits
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Employees Benefits and Services. DR. Anil Mehta. Meaning. Employees benefits and services include any benefits that the employ receives in addition to direct remuneration. Why Benefits and Services Increased earnings to employees Less distortion in salary structure Stable employees

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Employees Benefits and Services

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Employees benefits and services

Employees Benefits

and

Services

DR. Anil Mehta


Employees benefits and services

Meaning

Employees benefits and services include any benefits that the employ receives in addition to direct remuneration


Employees benefits and services

  • Why Benefits and Services

  • Increased earnings to employees

  • Less distortion in salary structure

  • Stable employees

  • High productivity

  • Less fatigue

  • Good company image

  • Enhanced employee morale


Employees benefits and services

  • Types of Fringe Benefits

  • Payment for time not worked

  • Hours of work

  • Paid holidays

  • Shift premium

  • Holiday pay

  • Paid vacation


Employees benefits and services

  • (B) Employee Security

  • Retrenchment Compensation

  • Lay-off Compensation

  • (C) Safety and Health

  • Safety measures

  • Workman’s compensation

  • Health benefits


Employees benefits and services

  • (D) Welfare and recreational facilities

  • Canteens

  • Consumer societies

  • Credit societies

  • Housing

  • Legal aid

  • employee counseling’


Employees benefits and services

  • Holiday homes

  • Educational facilities

  • Transportation

  • Parties &Picnic

  • Miscellaneous organizing games ,with awards ,setting of clubs, Festival gifts, birthday gifts, annual ,awards. Productivity /performance awards etc.


Employees benefits and services

  • (E) Old Age and Retirement Benefits

  • Provident Fund

  • Pension

  • Deposit linked insurance

  • Gratuity

  • Medical benefits


Employees benefits and services

  • Employees Stock Option Plan

  • Benefits to the employee

  • Employees remain loyal and committed to the company

  • It motivates them to to do well and share the fruits of progress

  • Better industrial relations, reduce employees turnover, lesser supervision, and other incidental benefits


Employees benefits and services

  • He becomes part owner, sharing dividends, bonuses, and other benefits, like any other shareholder

  • If the stock appreciates, he gains substantially


Employees benefits and services

Thank You


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