Mgnt 2: Chapter 9 Employee Benefits and

Services

Prepared by:

Jean F. Baylon

BSBA4-Major in Mktg.Mgnt

Instructor: Mrs. L. Fernandez

Fringe Benefits

Types of Employee Benefits and Services

Profit Sharing Plans

refers to the extra benefits provided to employees in addition to the normal compensation paid in the form of wage or salary.

Premium Payments

Payment for special duties

Payments for health & Security benefits

Payment for time not worked

Payment for employee service

Other expenditure

To create & improve sound IR.

To motivate the employees.

To provide security to the employees.

To protect the health of the employees.

To promote employee’s welfare.

To create a sense of belongingness.

To meet the requirements of various legislations relating to FB.

Services related to the

types of work performed

Eating facilities

Transportation facilities

Child Care facilities

Housing Services

Financial and legal services

Purchasing Services

Education Services

Medical Services

Outplacement Services

Flexi time

valuable option for businesses considering a retirement plan, providing benefits to employees and their employers

Adopt a written plan document,

Arrange a trust fund for the plan's assets,

Develop a recordkeeping system, and

Provide plan information to employees eligible to participate.

Participation

Contributions

Vesting

Nondiscrimination

Investing profit sharing plan monies

Fiduciary responsibilities

Disclosing plan information to participants

Reporting to government agencies

Distributing plan benefits

Gymnasium at Electronics 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 so that employees can relax and can take break in their hectic schedules. rest and recreation facilities such as a gymnasium, swimming pool, tennis, basketball and volleyball courts, in addition to cafeterias offering international cuisine

RECREATION FACILITIES

Food Courts,

Health Club, Fitness Center with a special enclosure for Aerobics, Golf club.

Amphitheatre, , a well-stocked Library, High speed connectivity, transportation facilities, stone-laid walking paths connecting each building (or one can use the bicycles provided to move around the campus)

Medical facilities, Bank, ATMs, Travel Counter.

The $120 million Infosys center

There's a Domino's Pizza, an infinity pool studded with palm trees, and a geodesic dome housing three movie theaters. But the real mission is teaching the Infosys Way to the 15,000 employees the fast-growing company hires a year--an average of 40 a day.

AS PER THE LAST ANNUAL REPORT, INFOSYS SPEND LOT OF MONEY AS SCHOLARSHIP TO THE CHILDREN OF EMPLOYEES.

Measure to help employees to be proactive about their own health and well being",

It is also called health assessment and lifestyle enrichment programme. (HALE PROGRAMME)

Programme includes hobbies, interests, sessions for dance,aerobics, Yoga, painting, and Pranic healing.

health check-up facilities from simple tests to cancer screening.

Lectures on eye care, stress management, skin care and good eating habits

OFFSITE TRIPS. CULTURAL PROGRAMMES

,FAMILY DAYS. CHILL OUT EVENING PARTIES. SHOPPING OPTIONS. MEDICAL CENTRES AND

ATMS. HOSTELS, HOTELS AND

DORMITORIES. MULTIPLEX. FOOTBALL AND CRICKET

GROUNDS. MULTIPLEX FOOTBALL AND CRICKET

GROUNDS

Payment made to a systems engg. In Infosys Basic pay:Rs.7730

Fixed dearness allowance:Rs.1100

Basket of allowances(medical,children’s education allowance,transport,HRA,LTA,miscillaneous allowances):Rs.10,470

Bonus Exgratia:Rs.1670

Monthly component:Rs.21978

Annual component:Rs.88

Retiral benefit(pf):12% basic pay + FDA:Rs.1060

Grativity:4.8% basic pay + FDA:Rs.425

Fixed gross salary:Rs.23551

Training performance linked incentive-(mark=5):15% (Rs.27084);mark=(4.5-5):12.5%(Rs.26495);mark=(4-4.5):10%(Rs.2590