Benefits to employees, HR Management

Assignment Help:

Benefits to Employees

The terms 'fringe benefits' & perks (perquisites) are sometimes utilized derogatively, but should be reserved for those worker benefits which are not basically catering for personal security and personal requirements. Benefits should be looked at as part of the total compensation scheme of the organisation. Employer provides a vast array of services that increased the lifestyle of employees. In some particular cases, these services grant workers time off with pay. The ever-increasing diversity & population of worker benefits have given increase to a significant number of benefits that may be grouped under a category called upon nonstatutory benefits. Amenities that is essential to be provided to the employees under different labour legislations. The significant legislations which call upon for these welfare provisions include the Plantation Labour Act, 1951, The Factories Act, 1948, Motor Transport Workers Act, 1961, Mines Act, 1952, and the Contract Labour (Regulation and Abolition) Act, 1970. Group life insurance plan provides insurance cover to various employees working under one employer, so long as they remain in service of that employer. Generally Industrial life breaks joint family system. The saving capability of the workers is very low due to lower wages, high living expense and enhancing aspirations of the employees and his family members. As such, employer provides some reimbursement to the employees, after retirement & during old age, having a view to create a feeling of security regarding the old age. These benefits are called upon old age & retirement benefits. These benefits include following (a) deposit linked insurance, (b) pension, (c) provident fund,  (d) gratuity and (e) medical benefit.


Related Discussions:- Benefits to employees

Diffrence between wages vs salary, Q. Diffrence between Wages Vs salary? ...

Q. Diffrence between Wages Vs salary? Wages is compensation to the employees for services rendered to the organization. In case the quantum of services rendered is difficult to

Training and development, evaluating the effectiveness of the learning & de...

evaluating the effectiveness of the learning & development function

Describe carefully the dimensions of workplace diversity, Question 1: "...

Question 1: "While comparing personnel management and human resource management, there seem to be significant differences in terms of scope, approach, nature and application"

Explain the costs middleregion, The country of Bigland has a democratically...

The country of Bigland has a democratically elected government which verifies broad national policies. Local services such as education, social care and environmental services are

Develop a project overview statement for an h.r project, Problem: a) Gi...

Problem: a) Give two approaches to understanding the project management life-cycle. Critically discuss the suitability of both these approaches. b) ‘The main purpose of the

Define group and team, The terms 'group' and 'team' have been used intercha...

The terms 'group' and 'team' have been used interchangeably in both practitioner and academic circles. However, they differ slightly. Kozlowski and Bell (2003, p. 334) proposed tha

Benefits of the career planning, 1. Explicit career path: career planning ...

1. Explicit career path: career planning forces employees to define their career goals more specifically. With the result, every individual willing to become an employee asks the

What do you mean by trade unionism, Q. What do you mean by Trade unionism? ...

Q. What do you mean by Trade unionism? Workers joined hands to protect against the exploitative tendencies of the employees and the prohibitive, unfair labour practises through

HR models, Both the Michigan and the Havard

Both the Michigan and the Havard

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd