By , Haris vs

Concept
Employee benefits are the non-wage compensations

provided to employees in addition to their normal wages or salaries

It includes all employer-provided benefits for death,

accident, sickness, retirement or unemployment.

OBJECTIVES
To recruit and retain the best personnel
To provide support and balance between the

professional and personal life To gain loyalty and cooperation To promote personal and professional growth by offering educational opportunities and training programs To motivate employees

Categories of employer payments

1.
2. 3.

4.
5.

Legally required Payments for private insurance and retirement plans Payments for time not worked Extra cash payments to employees Cost of services to employees

1.

Legally required social insurance payments

Medicare
Social security Workers compensation insurance Temporary disability insurance

2.Payments for private insurance and retirement plans

Old age
Death Disability income Medical expenses

3. Payments for time not worked

Vacations and holidays Maternity leave Sick leave Sabbatical leaves

4. Extra cash payments to employees

Educational expense allowances Savings plans Current profit-sharing payments Suggestion awards

Festivals bonus
Attendance bonus Sales incentives

Material/time saving bonus

5. Cost of services to employees

Subsidized cafeterias Physical awareness and fitness programs Emergency loans Recreation and counseling programs

Clothing allowances
OT payments Transportation benefits

Fringe benefits offered by :

WIPRO INFOSYS

WIPRO
Cash compensation
Social security and well-being Development and education

Employee stock purchase program

5% discount of Wipro stocks Leave of absence programs Relocation programs Railway half-fare season ticket

Cont.
Family service
Home care and elder care Bonus for recommending new employees

Special conditions for insurance

Sickness and accident income plan

Recreation facilities of Infosys

Gymnasium at Electronic city campus of Infosys at

Bangalore is one of the largest gymnasiums in Asia and a mini golf course among others They even have boating and saloon facilities in their campus. Swimming pool , tennis ,basketball and volleyball courts , cafeterias , medical facilities , bank ATMs ,fitness center ,Wi-Fi ,transportation facilities and multiplex etc.

scholarships
As per the last annual report , Infosys spend lot of

money as scholarship to the children of employees.

Health assessment programs for employees

Measure to help employees to be proactive about their

own health and well being. It is also called health assessment and enrichment programme. Programme includes hobbies, interests, sessions for dance, aerobics, Yoga and painting. Health check-up facilities from simple tests to cancer screening. Lectures on eye care, stress management, skin care and good eating habits.