ENTREPRENEURSHIP

Detailed explanation-1: -Also known as fringe benefits, Employee benefits are non-financial form of compensation offered in addition to cash salary to enrich workers’ lives.

Detailed explanation-2: -Employee benefits, also known as perks or fringe benefits, are provided to employees over and above salaries and wages. These employee benefit packages may include overtime, medical insurance, vacation, profit sharing and retirement benefits, to name just a few.

Detailed explanation-3: -The terms are often used interchangeably in conversation as if they’re the same thing-spoiler alert; they’re not! Benefits are a form of non-cash compensation, which your employer usually states in your contract. Benefits aren’t linked to employee performance, unlike Rewards.

Detailed explanation-4: -Compensation Definition: Compensation includes salary, bonus commission, stock options, benefits, perks, and any other additional financial or non-financial extras.

Detailed explanation-5: -Fringe benefits are additions to compensation that companies give their employees.