Employee benefits and (especially in British English) benefits in kind (also called fringe benefits, perquisites, or perks) are various non-wage compensations provided to employees in addition to their normal wages or salaries. Where an employee exchanges (cash) wages for some other form of benefit, this is generally referred to as a 'salary sacrifice' arrangement. In most countries, most kinds of employee benefits are taxable to at least some degree. Shortcut: WP:-( Vandalism is indisputable bad-faith addition, deletion, or change to content, made in a deliberate attempt to compromise the integrity of the encyclopedia. ... Shortcut: WP:-( Vandalism is indisputable bad-faith addition, deletion, or change to content, made in a deliberate attempt to compromise the integrity of the encyclopedia. ... British English (BrE, BE, en-GB) is the broad term used to distinguish the forms of the English language used in the United Kingdom from forms used elsewhere in the Anglophone world. ... Employment is a contract between two parties, one being the employer and the other being the employee. ... A wage is a compensation which workers receive in exchange for their labor. ... This article or section does not cite any references or sources. ...

Fringe benefits can also include but are not limited to: (employer-provided or employer-paid) housing, group insurance (health, dental, life etc.), income protection, retirement benefits, daycare, tuition reimbursement, sick leave, vacation (paid and non-paid), social security, profit sharing, funding of education, and other specialized benefits. Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the policy owners death. ... A retirement plan is an arrangement to provide people with an income, or pension, during retirement, when they are no longer earning a steady income from employment. ... Day care is the care of a child during the day by a person other than the childs parents or legal guardians, often someone outside the childs immediate family. ... Tuition means instruction, teaching or a fee charged for educational instruction especially at a formal institution of learning. ... This article or section does not adequately cite its references or sources. ... Social security primarily refers to a field of social welfare service concerned with social protection, or protection against socially recognized conditions, including poverty, old age, disability, unemployment, families with children and others. ... Profit sharing, when used as a special term, refers to various incentive plans introduced by businesses that provide direct or indirect payments to employees that depend on companys profitability in addition to employees regular salary and bonuses. ...

The purpose of the benefits is to increase the economic security of employees.

The term perks is often used colloquially to refer to those benefits of a more discretionary nature. Often, perks are given to employees who are doing notably well and/or have seniority. Common perks are company cars, hotel stays, free refreshments, leisure activities on work time (golf, etc.), stationery, allowances for lunch, and—when multiple choices exist—first choice of such things as job assignments and vacation scheduling. They may also be given first chance at job promotions when vacancies exist. Dariush Grand Hotel,Kish island, Iran The 4-star Manor House Hotel at Castle Combe, Wiltshire, England. ... This article is about the sport. ... Stationery is a general name given to paper and office supplies such as envelopes, notepads, pens, pencils, erasers, paper clips, staples, etc. ... The examples and perspective in this article or section may not represent a worldwide view. ... The references in this article would be clearer with a different and/or consistent style of citation, footnoting or external linking. ...

United States

Employee benefits in the United States might include relocation assistance; medical, prescription, vision and dental plans; health and dependent care flexible spending accounts; retirement benefit plans (pension, 401(k), 403(b)); group-term life and long term care insurance plans; legal assistance plans; adoption assistance; child care benefits; and possibly other miscellaneous employee discounts (e.g., movies and theme park tickets, discounted shopping, hotels and resorts, and so on). Relocation is a process of moving people or business to a different place. ... A flexible spending account (FSA) is a tax-advantaged financial account set up through the cafeteria plan of an employer in the United States. ... Retirement is the point where a person stops employment. ... The 401(k) plan is a type of employer-sponsored retirement plan in the United States and some other countries, named after a section of the U.S. Internal Revenue Code. ... A 403(b) plan is a tax advantaged retirement savings plan available for public education organizations, some non-profit employers (only US Tax Code 501(c)(3) organizations) and self-employed ministers in the United States. ... Long-term care insurance, an insurance product sold through a licensed insurance agent (one who represents the insurance company) or an insurance broker (one who represents the policyowner) in the United States, helps provide for the cost of long-term care beyond a pre-determined period. ... For other uses, see Adoption (disambiguation). ... Childcare is the act of caring for and supervising minor children. ... Dariush Grand Hotel,Kish island, Iran The 4-star Manor House Hotel at Castle Combe, Wiltshire, England. ... Resorts combine a hotel and a variety of recreations, such as swimming pools. ...

Some fringe benefits (for example, accident and health plans, and group-term life insurance coverage up to US$50,000) may be excluded from the employee's gross income and, therefore, are not subject to federal income tax in the United States. Some function as tax shelters (for example, flexible spending accounts, 401(k)'s, 403(b)'s). Fringe benefits are also thought of as the costs of keeping employees other than salary. These benefit rates are typically calculated using fixed percentages that vary depending on the employee’s classification and often change from year to year. Income, generally defined, is the money that is received as a result of the normal business activities of an individual or a business. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank   Money supply Fiscal policy Spending   Deficit   Debt Trade policy Tariff   Trade agreement Finance Financial market Financial market participants Corporate   Personal Public   Banking   Regulation        An income tax is a tax levied on the financial income...

Normally, employer provided benefits are tax-deductible to the employer and non-taxable to the employee. The exception to the general rule includes certain executive benefits (e.g. golden handshake and golden parachute plans). A golden handshake or golden parachute is a clause in an executive employment contract that provides the executive with a significant severance package in the case that the executive loses their job through firing, restructuring, or even scheduled retirement. ... A golden parachute is a clause (or several) in an executives employment contract specifying that they will receive certain large benefits if their employment is terminated. ...

American corporations may also offer cafeteria plans to their employees. These plans would offer a menu and level of benefits for employees to choose from. In most instances, these plans are funded by both the employees and by the employer(s). The portion paid by the employees are deducted from their gross pay before federal and state taxes are applied. Some benefits would still be subject to the FICA tax, such as 401(k) and 403(b) contributions; however, health premiums, some life premiums, and contributions to flexible spending accounts are exempt from FICA. A cafeteria plan is a type of employee benefit plan offered in the United States pursuant to Section 125 of the Internal Revenue Code. ... In a restaurant, a menu is the list of options for a diner to select. ... Federal Insurance Contributions Act (FICA) tax is a United States tax levied in an equal amount on employees and employers to fund old-age, survivors, and disability insurance portion of the Social Security system and the hospital insurance portion ( Medicare). ...

The term "fringe benefits" was coined by the War Labor Board during World War II to describe the various indirect benefits which industry had devised to attract and retain labor when direct wage increases were prohibited. Capitalizing on labor shortages during Americas entrance into World War I, unions led by Samuel Gompers under the American Federation of Labor organized mass strikes for tangible gain. ... Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000...

United Kingdom

In the UK, Employee Benefits are categorised by three terms :

Flexible Benefits (Flex) and Flexible Benefits Packages, Voluntary Benefits and Core Benefits.

Flexible Benefits, most often called a "Flex Scheme" is where employees are allowed to choose how a proportion of their remuneration is paid. This is normally delivered by allowing employees to sacrifice part of their pre-tax pay in exchange for a car, additional holiday, a shorter working week or other similar benefits. A number of external consultancies exist that enable organisations to manage Flex packages and they centre around the provision of an Intranet or Extranet website where employees can view their current flexible benefit status and make changes to their package. In the UK, the market is split between larger employee benefit consultancies (Mercers, Watson Wyatt, Towers Perrin), the mid-market (thomsons online benefits, Gissings) and smaller organisations. An intranet is a private computer network that uses Internet protocols, network connectivity, and possibly the public telecommunication system to securely share part of an organizations information or operations with its employees. ... An extranet is a private network that uses Internet protocols, network connectivity, and possibly the public telecommunication system to securely share part of an organizations information or operations with suppliers, vendors, partners, customers or other businesses. ...

Voluntary Benefits is the name given to a collection of benefits that employees choose to opt-in for and pay for personally. These tend to be schemes such as the government-backed (and therefore tax-efficient) Bike2Work and Childcare Vouchers schemes and also specially arranged discount schemes for employees.

Employee Discount schemes are often setup by employers as a perk of working at the organisation. They can be run inhouse or arranged by an external employee benefits consultant. In the UK, the employee discount scheme offering the widest range of deals is Reward Gateway run by a new entrant Asperity Employee Benefits, who provide services for employees at the BBC, Next Retail Ltd and British Airways. Other providers include You@Work (owned by Barclays), Brinc, Motivano and Bringme (owned by Lloyds Bank). The British Broadcasting Corporation, which is usually known as the BBC, is the largest broadcasting corporation in the world in terms of audience numbers, employing 26,000 staff in the United Kingdom alone and with a budget of more than GB£4 billion. ... For the 1930s airline of similar name, see British Airways Ltd. ...

Core Benefits is the term given to benefits which all staff enjoy, such as holiday, sick pay and sometimes flexible hours.

Fringe Benefits Tax

In a number of countries (e.g., Australia, New Zealand, and India) the 'fringe benefits' are subject to the Fringe Benefits Tax (FBT), which applies to most, although not all, fringe benefits. Fringe Benefits Tax (FBT) is a taxation of most, but not all fringe benefits, which are generally non-cash employee benefits. ...

See also

• Profit sharing
• Novated lease

Profit sharing, when used as a special term, refers to various incentive plans introduced by businesses that provide direct or indirect payments to employees that depend on companys profitability in addition to employees regular salary and bonuses. ... There are very few or no other articles that link to this one. ...

External links

• Directory of UK based voluntary benefits consultancies and research materials
• Website for UK based Employee Benefits magazine, published by Centaur
• White paper on voluntary employee benefits focusing on the role of employee discount schemes in the overall benefits and reward mix
• Website for UK based "Rewards & Benefits" magazine, published by Incisive Media
• White paper "The Rise of the nanny employer" - discussing how far should an employer go in terms of benefits and intervention.
• Employee Rewards Watch 2006 - results of survey of 500 HR Managers in the UK on benefit and reward issues
• Online archive of the monthly e-magazine Benefits Connection which includes research and case studies from UK employers on benefits, reward and employee discounts