Employee Benefits

Employee Benefits (Perquisites, Perqs, Perks or Fringe Benefits) are benefits or non-financial fulfillment, which is provided by the employer to employees beyond wage or salary. The aim of employee benefits is to create superior conditions for employees. The most common types of employee benefits are:

• Health benefits
  • Contributions to the premium health care
  • Individual health care
  • Paid short-term sickness (e.g. without collecting sick pay or visiting doctor)
• Retirement benefits
  • Pension plans
  • life Insurance
• Benefits in the workplace and in the working group
  • Refreshments in the workplace
  • Canteen meals
  • Paid social or sporting events
  • Gifts from the employer
• Working off and living benefits
  • Flexible working hours
  • Home office
  • Paid leave beyond the legal obligations
  • Company car for private purposes
  • Company mobile phone for private purposes
  • Paid study leave
  • Study leave
  • Sports, fitness
• Salaries and financial benefits
  • Thirteenth salary
  • Meal tickets
  • Housing allowances, travel allowances
  • Various benefits
• Upgraded training
  • Language training (acquisition of language tests and certificates)
  • Professional courses
  • Providing superior services (usually using the services of the company)
• Equipment for employees
  • Business notebook (laptop) for private purposes
  • Corporate internet for private purposes

Employee Benefits in practice: Employee benefits are used as part of care for employees, and as a motivational tool for obtaining or retaining employees. It’s something the organization wants to distinguish in the labor market and improve its image and goodwill. Some employee benefits, (depending on the legislation of a particular state) are not tax-deductible - the organization gives them of their profits. Some benefits can be given in a form of salary and are tax-advantageous.

Some of the benefits are applied across the board to all employees, some benefits may be reserved for the most powerful or key employees.