Search results
- Dictionaryfringe benefit
noun
- 1. an extra benefit supplementing an employee's money wage or salary, for example a company car, private healthcare, etc.: "some occupations offer an employer's pension as a fringe benefit"
Powered by Oxford Dictionaries
Feb 25, 2024 · Fringe benefits are additional compensation provided to employees above and beyond an agreed-upon wage or salary. Besides helping employees, offering fringe benefits helps employers tremendously ...
May 30, 2024 · What is the meaning of a fringe benefit? Compensation over and above an employee’s direct wages or salaries is called a fringe benefit. This may be monetary in terms of bonuses and allowances or ...
Jan 12, 2024 · Fringe benefits are the additional benefits that companies give to employees beyond their salaries or wages. These benefits may include professional development stipends, meal subsidies, employee stock options, commuter benefits and more. The idea behind fringe benefits is that they help keep current employees satisfied and act as a way to ...
Fringe benefits can be categorized into two categories. Some benefits are required by law and others are provided at the employer’s discretion. 1. Fringe benefits required by law. The mandatory fringe benefits are intended to provide employees with medical care, mitigate them from economic hardships in the event they lose employment, and ...
Oct 10, 2022 · Key takeaways: Fringe benefits are a form of compensation that employers give to team members in addition to their regular salary. There are many different types of fringe benefits, including retirement plans and health club memberships. Most fringe benefits are taxable but some, such as discounts and free memberships, are free.
Jun 14, 2024 · Fringe benefits are a form of pay, often from employers to employees, and are considered compensation for services beyond the employee's normal rate of pay. These employee fringe benefits can be property, cash, cash equivalents, discounts, savings accounts, and even non-tangible benefits like experiences.
Nov 9, 2022 · Fringe benefits definition. Fringe benefits are non-wage benefits that supplement an employee’s regular salary. From adoption assistance to gym memberships, fringe benefits provide a well-rounded approach to employee health and life-work balance. Employers offer fringe benefits in addition to statutory benefits to create a comprehensive and ...
Fringe benefit, any nonwage payment or benefit (e.g., pension plans, profit-sharing programs, vacation pay, and company-paid life, health, and unemployment insurance programs) granted to employees by employers. It may be required by law, granted unilaterally by employers, or obtained through collective bargaining.
Any fringe benefits are included with gross earnings. In addition to base or incentive compensation, fringe benefits are part of the overall incentive plan given to workers. Employees' quality of life is maintained (or improved) by fringe benefits, which provide protection and financial support for jobs and their families. .
Some of the most common examples of fringe benefits are health insurance, workers’ compensation, retirement plans, and family and medical leave. Less common fringe benefits might include paid vacation, meal subsidization, commuter benefits, and more. Employee benefits are typically decided on by businesses and HR departments during the ...
