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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

What are the major types of employee benefits?

Summary Introduction

To determine: The major types of employee benefits.

Introduction: Compensation is the financial advantage which is given to a employee giving their administrations to an organization. Compensation incorporates parts like pay, compensation, rewards etc.

Explanation

The major types of employee benefits are as follows:

  • The expenses of pension and retirement programs additionally might be borne altogether by the firm or imparted to the employee. A few advantages are required by law. For instance, employers must keep up employees’ remuneration insurance, which pays hospital expenses for wounds that happen at work and gives pay to employees who are handicapped by workplace injuries.
  • Different benefits gave by businesses incorporate educational cost repayment schemes, credit associations, cafeterias in organization and practice rooms etc accessible to all employees...

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