1. Employees Benefits and Services DR. Anil Mehta

2. Employees benefits and services include any benefits that the employ receives in addition to direct remuneration Meaning

3. Why Benefits and Services Increased earnings to employees Less distortion in salary structure Stable employees High productivity Less fatigue Good company image Enhanced employee morale

4. Types of Fringe Benefits (A)Payment for time not worked Hours of work Paid holidays Shift premium Holiday pay Paid vacation

5. (B) Employee Security Retrenchment Compensation Lay-off Compensation (C) Safety and Health Safety measures Workman’s compensation Health benefits

6. (D) Welfare and recreational facilities Canteens Consumer societies Credit societies Housing Legal aid employee counseling’

7. Holiday homes Educational facilities Transportation Parties &Picnic Miscellaneous organizing games,with awards,setting of clubs, Festival gifts, birthday gifts, annual,awards. Productivity /performance awards etc.

8. (E) Old Age and Retirement Benefits Provident Fund Pension Deposit linked insurance Gratuity Medical benefits

9. Employees Stock Option Plan Benefits to the employee Employees remain loyal and committed to the company It motivates them to to do well and share the fruits of progress Better industrial relations, reduce employees turnover, lesser supervision, and other incidental benefits

10. He becomes part owner, sharing dividends, bonuses, and other benefits, like any other shareholder If the stock appreciates, he gains substantially