Employee benefits (also called fringe benefits, perquisites, or perks) are various non-wage compensations provided to employees in addition to their normal wages or salaries. These can include, but are not limited to: group insurance (health, dental, life etc.), income protection, retirement benefits, daycare, tuition reimbursement, sick leave, vacation (paid and non-paid), Social Security, and other specialized benefits. Employment is a contract between two parties, one being the employer and the other being the employee. ... A wage is the amount of money paid for some specified quantity of labour. ... Salary is a form of periodic payment from the employer to the employee, which is specified in an employment contract. ... It has been suggested that Life assurance be merged into this article or section. ... 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 is on vacation as time off. ... For specific national programs, see Social Security (United States), National insurance (UK), Social Security (Sweden) Social security mainly refers to a field of social welfare concerned with social protection, or protection against socially recognized needs, including poverty, old age, disability, unemployment, families with children and others. ...

The purpose of the benefits are to increase the economic security of employees. Some fringe benefits (for example, accident and health plans, and group-term life insurance) may be excluded from the employee's gross income and, therefore, are not subject to federal income tax in the United States. 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. ... This article needs to be cleaned up to conform to a higher standard of quality. ...

The term perks is often used colloquially to refer to those benefits of a more discretionary nature.

Common perks are company cars, hotel stays, free refreshments, leisure activities on work time (golf, etc.), stationery, allowances for lunch, etc. A hotel is an establishment that provides lodging, usually on a short-term basis. ... Golfer teeing off at the start of a hole Golf is an outdoor sport where individual players or teams hit a small ball into a hole using various clubs. ... Stationery is a general name given to paper and office supplies such as envelopes, notepads, pens, pencils, erasers, paper clips, staples, etc. ... An allowance is a term used to describe a regular allocation of money from one person to another. ... Lunch is a meal that is taken at noon or in the early afternoon. ...