Which term refers to benefits workers receive from their employer in addition to wages?

Which term refers to benefits workers receive from their employer in addition to wages?

• A. Fringe Benefits
• B. Bonuses
• C. Taxes
• D. Overtime

Answer: (A)

Benefits beyond regular pay are called fringe benefits. These are the non-wage perks an employer provides to support employees’ well-being and job satisfaction, such as health insurance, retirement plans, paid time off, life and disability insurance, tuition reimbursement, and employee discounts. They add value to total compensation without increasing the base salary. Bonuses are additional cash you receive, usually tied to performance, and overtime is extra pay for working beyond the standard hours; taxes are deductions from your pay. These are not fringe benefits, but part of the direct compensation or deductions, whereas fringe benefits are the non-wage perks that come with employment.

Benefits beyond regular pay are called fringe benefits. These are the non-wage perks an employer provides to support employees’ well-being and job satisfaction, such as health insurance, retirement plans, paid time off, life and disability insurance, tuition reimbursement, and employee discounts. They add value to total compensation without increasing the base salary.

Bonuses are additional cash you receive, usually tied to performance, and overtime is extra pay for working beyond the standard hours; taxes are deductions from your pay. These are not fringe benefits, but part of the direct compensation or deductions, whereas fringe benefits are the non-wage perks that come with employment.