BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -An example of a fringe benefit would be if an employee was given a company car to use for both business and personal travel. The value of the car would be considered a fringe benefit and would be subject to FBT.

Detailed explanation-2: -Fringe benefit, any nonwage payment or benefit (e.g., pension plans, profit-sharing programs, vacation pay, and company-paid life, health, and unemployment insurance programs) granted to employees by employers. It may be required by law, granted unilaterally by employers, or obtained through collective bargaining.

Detailed explanation-3: -Some of the most common examples of fringe benefits are health insurance, workers’ compensation, retirement plans, and family and medical leave. Less common fringe benefits might include paid vacation, meal subsidization, commuter benefits, and more.

Detailed explanation-4: -Employee benefits are any form of indirect compensation paid to employees over and above regular salaries or wages. This can include health insurance, retirement benefits, and paid time off, for example.

Detailed explanation-5: -Alternate titles: nonwage payment.