Employee Benefits and Services
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Mgnt 2: Chapter 9 Employee Benefits and
Services
Prepared by:
Jean F. Baylon
BSBA4-Major in Mktg.Mgnt
Instructor: Mrs. L. Fernandez
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Fringe Benefits
Types of Employee Benefits and Services
Profit Sharing Plans
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refers to the extra benefits provided to employees in addition to the normal compensation paid in the form of wage or salary.
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Premium Payments
Payment for special duties
Payments for health & Security benefits
Payment for time not worked
Payment for employee service
Other expenditure
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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.
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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
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valuable option for businesses considering a retirement plan, providing benefits to employees and their employers
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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.
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Participation
Contributions
Vesting
Nondiscrimination
Investing profit sharing plan monies
Fiduciary responsibilities
Disclosing plan information to participants
Reporting to government agencies
Distributing plan benefits
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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
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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.
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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.
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AS PER THE LAST ANNUAL REPORT, INFOSYS SPEND LOT OF MONEY AS SCHOLARSHIP TO THE CHILDREN OF EMPLOYEES.
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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.
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health check-up facilities from simple tests to cancer screening.
Lectures on eye care, stress management, skin care and good eating habits
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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
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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
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