Employee Benefits

Organizations use benefit packages to entice new employees and to present get laid employees with a greater feeling of cable approval. Furthermore, the government has mandated show benefits for employers to offer their employees. nearly examples of such mandates include, workers compensation, unemployment compensation, and social certification. Workers compensation is bail benefits provided to persons who atomic number 18 injured on the job (Mathis & Jackson, 2011). The employer via state policy or a private pallbe atomic number 18r provides the compensation, every last(predicate)owing for faster outgo of cash benefits, convalescence and health check c be provided to the employee. As affair of the Social Security come of 1935, employees can receive up to 26 weeks of pay, at the enjoin of 50% to 80% of expression pay unless they are open fire (Mathis & Jackson, 2011). Another mandated benefit provided by the SSA, entitles income to employees post retiremen t or in the cases of a constant disability. Not all benefits are required by uprightness, only are voluntarily offered as part of an organizations compensation package. Some examples of voluntary benefits include, health insurance, a retirement see, and roam leave. health care expense reimbursements are one of the most expensive accessory benefits.

Pension plans are programs established and funded by the employer and the employee (Mathis & Jackson, 2011). There are two categories of support funds, defined-benefit and defined-contribution. A defined-benefit plan is a plan that pays the employee a origi nal amount of bills based o age and time I ! organization, whereas, a defined-contribution allows the employee to put money away in a tax-deferred account (401k). Federal law does not require sick leave, however most employers hunt down to include it. However, if you relinquish your job before using all of your sick leave, your employer is not obligated to pay you for that time (US DOL, n.d.).If you lack to get a full essay, order it on our website: BestEssayCheap.com

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