Posts: 247
Threads: 124
Joined: Nov 2011
What are the different types of Fringe benefits?
Posts: 247
Threads: 124
Joined: Nov 2011
Kinds of fringe benefits
The benefits and services to be included under the title 'fringe benefits' arc numerous. George R.
Terry has enumerated as many as 28 benefits under fringes. A few of them are—Bonus for quality and attendance, contribution to group insurance plans, lay-off and termination, pay, travel expenses, suggestion awards, medical leave with pay, overtime, university and trade courses etc.
The chamber of commerce, U.SA. has included 5 types of benefits under 'Fringe benefits':
(i) Statutory payments such as old age pension, unemployment insurance, group insurance etc.,
(ii) Payments for pension and labour welfare.
(iii) Rest or leave with pay.
(iv) Payment for time not worked, and
(v) Other benefits such as profit sharing, suggestion, reward, reimbursement of tuition fee, festival allowance etc.
