Professional Documents
Culture Documents
CM 6th Chapter
CM 6th Chapter
6th Chapter
1. Employee Benefit
EB can be the term non-cash compensation provide by the employer. These benefits are given
the employee apart from the salary & wages. Employee benefits and benefits in kind include
various types of non-wage compensation provided to employees in addition to their normal
wages or salaries. Instances where an employee exchanges wages for some other form of
benefit is generally referred to as a "salary packaging" or "salary exchange" arrangement.
8. Discretionary benefits
Discretionary benefits are employment benefits that are not mandated by law. They can
include a range of employee benefits, such as health insurance, sick leave, maternity leave,
vacation leave, pension plans, life insurance, and prescription drug insurance. It’s completely
up to HR professionals to decide which company benefits will be available as part of their
employee benefits scheme.