DEFINITION :- fringe benefits are those monetary and non-monetary benefits given to the employee during and post-employment

period which are connected with employment but not to the employees contributions to the organization. For example , you could receive a benefit when you use a work car for private purposes. are provided with a cheap loan. are provided with free private health insurance. are provided with cleaning services for your private residence or enter into a salary sacrifice arrangement.

Need and importance of fringe benefits

To Retain the Employees Employee Demands To Motivate Performance As a social security Trade Union Demand Hazards of Industrial Life Skill shortage

Principles of Fringe Benefit Programe

Satisfaction of Real Need Flexibility Proper Communication Considering the Wishes of Employees Educate the Workers CorporateTool Participation

Fringe benefit categories Car fringe benefits Loan fringe benefits Debt waiver fringe benefits Expenses payment fringe benefits Housing fringe benefits Airline transport fringe benefits Living-away-from-home allowance fringe benefits Property fringe benefits Car parking fringe benefits Residual fringe benefit

Fringe benefit in India :-

Payments for time not worked Statutory fringe benefits Voluntary benefits Payments for special duties Payments for health and security benefits Other expenditure

CONCLUSION Basically, a fringe benefit is a benefit provided to an employee or an associate (for example- family, spouseand children) because of his employment.

Fringe benefits provide output in terms of employee loyaltyand cooperation, employee welfare and createorganizational image.