Employee Benefits
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Employee benefits and (especially in British English) benefits in kind (also called fringe benefits, perquisites, perqs or perks) are various non-wage compensations provided to employees in addition to their normal wages or salaries. In instances where an employee exchanges (cash) wages for some other form of benefit is generally referred to as a 'salary sacrifice' or 'salary exchange' arrangement. In most countries, most kinds of employee benefits are taxable to at least some degree. Examples of these benefits include: housing (employer-provided or employer-paid), group insurance (health, dental, life etc.), disability income protection, retirement benefits, daycare, tuition reimbursement, sick leave, vacation (paid and non-paid), social security, profit sharing, funding of education, and other specialized benefits. The purpose of the benefits is to increase the economic security of employees. The term perqs (also perks) is often used colloquially to refer to those benefits of a more discretionary nature. Often, perks are given to employees who are doing notably well and/or have seniority. Common perqs are take-home vehicles, hotel stays, free refreshments, leisure activities on work time (golf, etc.), stationery, allowances for lunch, and—when multiple choices exist—first choice of such things as job assignments and vacation scheduling. They may also be given first chance at job promotions when vacancies exist. From Wikipedia under the
GNU Free Documentation License Matching Results for Employee Benefits:benefitAn advantage, help or aid from something. A payment made in accordance with an insurance policy or a public assistance scheme. A performance, etc ... fringe benefit A benefit received in addition to the normal benefits of holding a job, or, by extension, any relationship to the source of the benefit. lateral transfer The movement of an employee from his/her current post to a different position without noticeable benefits. From Wiktionary under the
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