saac works for a paper products company that provides sick leave, vacation pay, pension plans, health plans, and other forms of extra compensation. these particular items are

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31-10-2022
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saac works for a paper products company that provides sick leave, vacation pay, pension plans, health plans, and other forms of extra compensation. these particular items are

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qwteddy qwteddy · Answer 1 · 2022-11-02T18:40:51+01:00

saac works for a paper products company that provides sick leave, vacation pay, pension plans, health plans, and other forms of extra compensation. these particular items are fringe benefits.

A fringe benefit is any non-wage payment or benefit provided to employees by companies (such as pension plans, profit-sharing schemes, paid time off, and life, health, and unemployment insurance programs).

Fringe benefits aid employers in attracting, retaining, and motivating top talent. The most lavish rewards are sometimes offered by businesses fighting for the most sought-after skills. Health and life insurance are two of the most popular nontaxable fringe benefits, whereas other benefits are taxed at their fair market value.

Retirement contributions, employee stock options, financial aid for school, tuition reimbursement, paid time off, and health, dental, life, and disability insurance are among the most popular fringe benefits.

Learn more about Fringe benefits here:

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