A. Time-of pay:this are payments for the time not worked and include pay vacations, paid holidays, paid sick leaves, pension programs, rest periods, etc. Example: Paid vacations- organizations provided employees a certain number of paid vacation days in a year. The number of days may vary according to how long an employee has worked for an organization. Usually, paid vacation times increases with seniority. Sick leaves:-providing employees with pay for days not worked because of illness Pension programs:it represents a fixed payment other than wages, made regularly to former employees or their surviving dependents. B. Non-pay benefits:these are benefits not paid in cash but include expenditures on items such as medical services, transportation, accommodation, insurance, cafeteria services, education programs, child care services, and others. Example: Health insurance: Medical insurance program designed to cover a portion or total medical expense incurred by an employee. It may include coverage for hospitalization, outpatient doctor bills, prescription drugs, dental, eye, medical health care, etc.
has intentionally blurred sections.
Sign up to view the full version.