Fringe benefits in the Indian industries:
The national association of manufactures has indicated the following which are essential in motivating the workers towards higher o/p, and for attracting are retaining the efficient workers in the enterprises. This includes:
1. Premium payment for the period of time a worker has worked (for example, payment on daily or weekly basis, holidays, overtime pay, shift differentials, the cost of living bonus, bonus in lieu of vacation).
2. Payment for performing special duties (working on labour contract negotiations, grievance redressed procedures etc).
3. Payment for the health and security benefits (included in this category are the retirement plans, social security payments, saving plans, profit sharing plans, life insurance, medical surgical and hospital insurance, supplemental employment benefits, payments under the workman's compensation act, disability insurance, old age and survivor insurance, and unemployment compensation etc).
4. Payment for the time not worked (these include the sick provision, payment for the holidays, vacations, witness time, reporting day, payment for the call in time, call back time, dressing time, portal to portal time and wet time, voting time, excused absence, lunch periods, work up time etc).
5. Payment for the employee services (these includes cafeteria subsides, union credit, house financing, parking space operations etc).
6. Miscellaneous expenditure (these includes educational expenditures of families and children of employees, special gifts on the eve of festivals, festival bonus, employee uniforms, safety equipment or allowance, laundry allowance, supper money or lunch allowance etc).