Employee Benefits
Employee benefits include any additional services or assistance an employer offers beyond salary or wages. Common employee benefits include paid vacation time, sick leave, personal leave, 401(k) plans, other retirement plans, health and dental insurance, and disability, life, or supplemental insurance. Some employee benefits are optional, but employers are required by law to provide others. Some of these laws are federal, while others vary from state to state, so it is necessary for employers to know the laws specific to their state to ensure they are meeting all requirements.
From India, Gurgaon
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675Employee benefits include any additional services or assistance an employer offers beyond salary or wages. Common employee benefits include paid vacation time, sick leave, personal leave, 401(k) plans, other retirement plans, health and dental insurance, and disability, life, or supplemental insurance. Some employee benefits are optional, but employers are required by law to provide others. Some of these laws are federal, while others vary from state to state, so it is necessary for employers to know the laws specific to their state to ensure they are meeting all requirements.
From India, Gurgaon
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Hi! Here's a list of benefits that are normally required by the government and/or are popularly given out by companies worldwide, especially in our country:
Allowances
1.1 Operation Travel
1.2 Transportation
1.3 Meal
1.4 Housing
1.5 Car and related expenses
1.6 Leisure and entertainment
1.7 Representation
1.8 Clothing
1.9 Rice
Variable Bonus
2.1 Productivity
2.2 Christmas (Winter)
2.3 Midyear (Summer)
2.4 13th Month pay
Health, Safety, and Security
3.1 Life Insurance
3.2 Health/Medical Insurance
3.3 Pension Plan
3.4 Accident Insurance
3.5 Social Security (required by law)
3.6 PAG-IBIG (mandatory for housing)
3.7 Philhealth (mandatory medical care law)
Loans
4.1 Personal/Cash Advance
4.2 Car
4.3 Housing
Leaves and Rest Days
5.1 Service Incentive (5 days by labor law)
5.2 Paternity (7 days)
5.3 Maternity (60 days for normal; 72 days CS)
5.4 Sick (15 days)
5.5 Vacation (15 days)
5.6 Emergency (3-5 days)
5.7 Weekly Rest Day (1 day)
Special Benefits
6.1 Retirement
6.2 Death
6.3 Disability
6.4 Redundancy/Severance
6.5 Night Shift Differential
6.6 Overtime Premium Pay
6.7 Holiday Premium Pay
Others
7.1 Household Overhead Subsidy
7.2 Children Educational Assistance
7.3 Product/Merchandise Discount
7.4 Daily Newspaper
7.5 Monthly International Magazine
Best wishes,
Ed Llarena, Jr.
Managing Partner
Emilla Consulting
From Philippines, Parañaque
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Allowances
1.1 Operation Travel
1.2 Transportation
1.3 Meal
1.4 Housing
1.5 Car and related expenses
1.6 Leisure and entertainment
1.7 Representation
1.8 Clothing
1.9 Rice
Variable Bonus
2.1 Productivity
2.2 Christmas (Winter)
2.3 Midyear (Summer)
2.4 13th Month pay
Health, Safety, and Security
3.1 Life Insurance
3.2 Health/Medical Insurance
3.3 Pension Plan
3.4 Accident Insurance
3.5 Social Security (required by law)
3.6 PAG-IBIG (mandatory for housing)
3.7 Philhealth (mandatory medical care law)
Loans
4.1 Personal/Cash Advance
4.2 Car
4.3 Housing
Leaves and Rest Days
5.1 Service Incentive (5 days by labor law)
5.2 Paternity (7 days)
5.3 Maternity (60 days for normal; 72 days CS)
5.4 Sick (15 days)
5.5 Vacation (15 days)
5.6 Emergency (3-5 days)
5.7 Weekly Rest Day (1 day)
Special Benefits
6.1 Retirement
6.2 Death
6.3 Disability
6.4 Redundancy/Severance
6.5 Night Shift Differential
6.6 Overtime Premium Pay
6.7 Holiday Premium Pay
Others
7.1 Household Overhead Subsidy
7.2 Children Educational Assistance
7.3 Product/Merchandise Discount
7.4 Daily Newspaper
7.5 Monthly International Magazine
Best wishes,
Ed Llarena, Jr.
Managing Partner
Emilla Consulting
From Philippines, Parañaque
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Types of Compensation & Benefits
There are two types of compensation and benefits:
1. Direct Compensation
2. Indirect Compensation
Direct compensation includes:
- Basic salary
- House rent allowance
- Medical reimbursement
- Special allowance
- Leave travel allowance
- Conveyance allowance
- Bonus
Indirect compensation includes:
- Leave policy
- Overtime policy
- Hospitalization
- Insurance
- Flexible time
- Gratuity policy
- Refreshment
Regards,
Naeem Bari
From Libyan Arab Jamahiriya, Tripoli
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There are two types of compensation and benefits:
1. Direct Compensation
2. Indirect Compensation
Direct compensation includes:
- Basic salary
- House rent allowance
- Medical reimbursement
- Special allowance
- Leave travel allowance
- Conveyance allowance
- Bonus
Indirect compensation includes:
- Leave policy
- Overtime policy
- Hospitalization
- Insurance
- Flexible time
- Gratuity policy
- Refreshment
Regards,
Naeem Bari
From Libyan Arab Jamahiriya, Tripoli
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