Fringe Benefits

• are benefits provided by an employer to an employee
• This form of  compensation is given in addition to direct wages or salaries
• It is given in order to enhance the status of an employee and
• to recruit and retain the best staff
• Examples of fringe benefits include:
• Company car/vehicle
• Fuel allocations
• Company house
• Travelling allowance
• Rental allowance
• Paid holiday
• Medical insurance
• Pension schemes
• Subsidised meals

To access more topics go to the O Level Business Notes page.