BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -What Is a Section 125 (or Cafeteria) Plan? A Section 125 plan is part of the IRS code that enables and allows employees to take taxable benefits, such as a cash salary, and convert them into nontaxable benefits. These benefits may be deducted from an employee’s paycheck before taxes are paid.

Detailed explanation-2: -What is a cafeteria plan? Cafeteria Plans are an employer-sponsored benefit that lets employees pay certain qualified medical expenses – such as health insurance premiums for medical, dental, and vision coverage – on a pre-tax basis. They are sometimes called Section 125 Cafeteria Plans.

Detailed explanation-3: -Cafeteria plan refers to a type of employee benefit plan in which an employer offers employees a set of different taxable and non-taxable benefits. The employee is able to choose which benefits would fit their individual needs.

Detailed explanation-4: -– Cafeteria approach is the strategy adopted by the government for family planning in the country. The approach aims to make use of all the scientifically approved contraceptives for population control.