The house could be re identified by the company and

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behalf of the employee. The house could be re-identified by the company, and upon selection ofan employee, they are allowed to move into the apartment with their properties. In other cases,employees are given a chance to choose a house within a specified location. Organizations thatare using this plan helps their employees to settle faster mainly if they are located within the city.Employees can start the job with a higher note since they can put more efforts into the new rolewithout the added stress of arranging accommodations.For employee taxing, the accommodation offered by the company is treated as a“perquisite” in the hands of the employee and is considered as part of her or his taxable salary.The value of such accommodation is calculated as fifteen per cent of the wage or the actual rentpaid by the employer whichever is lower (Shim & Kim 2015).Personal Accident Insurance CoverageCurrently, most of the organization have adopted Personal Accident Insurance coverageas part of the compensation plan. The plan provides compensation of the employees’ families bycatering the expenses which involve the following (Hollenbeck, Gerhart & Wright, 2017);Accidental deathFuneral expensesHospitalization expensesCorrective surgery expensesMedical expensesTemporary total or partial disablementPermanent total or partial disablement
COMPENSATION MANAGEMENT10Corporate credit cardMost organizations incur additional expenses from their employees when they aretravelling. Therefore, they developed a corporate credit card strategy to cut down the travellingor any other purchases done by their employees for the benefits of the organization. Vetrakova &Benova (2017) argues that the Creation of the employee card policy has helped both small andlarge-sized organizations to cut down unnecessary employee expenses. The policy lays downsome rules and regulations that guide the employees on how and when to use the card.Nevertheless, some companies are knowledgeable about the optimal guidelines on how todevelop employee card policies. Organizations have shown their interest in the card policies butthey lack enough knowledge on how to implement the plan. Educational facility
COMPENSATION MANAGEMENT11Education facilities such as payment of the employee school fees are one of thecompensation plans that organizations are nowadays implementing. In some cases, the employerpays the college fees of the employee family members directly to the school. If the employeehappens to pay the school fees on his own under this compensation, the employee is entitled toreimbursement by their employer (Brown et. al, 2018). This benefit is a taxable “perquisite”regardless of whether the is a specified or non-specified type of employee.In case the school or the college is run or maintained by the employer and freeeducational facilities are given to the children of the employee or any other member of thefamily, the valuations of this perk are calculated under the employee salary Act.

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