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

Objectives of an industrial relations program, Question 1: a) Define an...

Question 1: a) Define and explain the term "Job" b) Explain the components of a job description. c) What are the advantages that an organisation derives by carrying

Critically elaborate on the theories of motivation, QUESTION 1 (a) Descr...

QUESTION 1 (a) Describe in detail the concept of ‘structure of personality' as developed by Freud (b) Explain how according to Freud the first six years of life is crucial fo

Evaluate the effectiveness of a team, Evaluate the effectiveness of a team,...

Evaluate the effectiveness of a team, and team work. Identify the monitoring evaluation and control methods used in your selected organization and explain the techniques used to

Research methodology, . Explain the steps involved in research process

. Explain the steps involved in research process

Sound reward system, effective HRM depends upon sound reward system? commen...

effective HRM depends upon sound reward system? comment

Demonstrations and examples or learning, Demonstrations and examples or lea...

Demonstrations and examples or learning by seeing: In the demonstration method the trainer describes and displays something and when he teaches an employee how to do something

#HR Management, 2. What is wrong with the recruitment policy of the company...

2. What is wrong with the recruitment policy of the company?

Types of incentive schemes, Types of incentive schemes: incentive schemes ...

Types of incentive schemes: incentive schemes are many and varied. The international labour organization (ILO) classifies all the schemes of payment by the result into four catego

Diversity, Describe carefully the dimensions of workplace diversity. Use ex...

Describe carefully the dimensions of workplace diversity. Use examples to explain in your own words five of these dimensions.

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