A presentation that emphasize on employee benefits that include employee welfare via pension, allowance, etc. HRS: Human Resource System

1. Employee Benefits,
Pensions and Allowances
Human Resource Management

2. Employee Benefits
The objectives of the employee benefits policies and practices of
an organization are to:
 provide an attractive and competitive total salary package
which both attracts and retains high-quality employees.
 provide for the personal needs of employees.
 increase the commitment of employees to the organization.
 provide people a tax-efficient job.

3. Main Types of Employee Benefits

4. Continued..
 Personal security: these
are benefits which enhance
the individual’s personal and
family security with regard to
illness, health, accident or life
insurance.

Financial assistance:
loans, house purchase
schemes, relocation
assistance and discounts on
company goods or services.

Personal needs: holidays
and other forms of leave,
child care, career breaks,
retirement counseling,
financial counseling and
personal counseling.
 Company cars and
petrol: still a much
appreciated benefit in spite of
the fact that cars are now
more heavily taxed.

5. Continued..
 Other benefits: to improve
the standard of living of
employees such as subsidized
meals, clothing allowances,
refund of mobile cost and
credit card facilities.
 Intangible benefits:
characteristics of the
organization which
contribute to the quality of
working life.

6. Pensions
The reasons for having a worthwhile pension scheme are
that it:
 demonstrates that the organization is a good employer.
 attracts and retains high-quality people.
 indicates that the organization is concerned about the
long-term interests of its employees.

7. Generally the retiring
age of most companies
is 65.
At this point, employee
gets pension which was
once contributed by
employee and employer
both.

8. Allowance
Allowances are paid as an addition to basic pay.

9.  Location allowances :
housing and other cost of
living.
 Subsistence allowances :
accommodation and meals.
 Overtime Payments :
Extra pay for working extra
after working hours or
sundays.
 Shift Payments : Pay more
for late shifts.
 Stand by and call out
allowances : extra
allowance to those who has
to come whenever called.

10. This is the main aim of allowance and employee
benefits.

11. Presentation ByAyush Parekh
Roll Number – 21, SU1
Indian Institute of Planning & Management