Fringe Benefit

Definition

• Compensation that is given to employees in addition to wages, tips, or salaries. Such benefits can include health insurance, life insurance, and pension plans.

Synonyms
employment benefits, perk, gravy, extra, bonus

Related Terms and Acronyms

• Canada Pension Plan (CPP) — Acronym, Canada, Important,
  • A public pension plan administrated by the Canadian government.
• Group Health Insurance Plan — Definition,
  • Health insurance that covers a large group of people, often as part as a employee benefit package.
• Health and Welfare Trust (HWT) — Acronym,
  • A method for employers to offer their employees tax-free health benefits.
• Health Maintenance Organization (HMO) — Acronym, Important,
  • A healthcare plan where insured people receive reasonably priced health insurance through an organization with firm guidelines on the scope of care.
• Moving Expenses — Definition,
  • Expenses incurred when you moved in connection with your job and are deductible if they are the reasonable costs of moving yourself, your family and your possessions. You can no longer deduct the cost of meals while moving.
• Old Age Security (OAS) — Acronym, Important,
  • A Canadian pension plan for eligible Canadians over the age of 65.
• Payroll Taxes — Definition,
  • A tax based on wages and salaries that is deducted from employees pay cheques.
• Private Health Services Plan (PHSP) — Acronym, Canada, Important,
  • A method for businesses to provide health benefits for their employees that is both tax deductible for the business and non taxable for the employee.
  ➥ Provides tax-deductible health and dental benefits in Canada.
• Relocation Benefits — Definition,
  • Money and other consideration that an employer gives to employees who move or are transferred at the company's behest. Can include reimbursement for packing and moving, house-hunting trips, and temporary housing and storage.
• Relocation Company — Definition,
  • A business that specializes in providing help to employees who move for their employer.
• Voluntary Life Insurance — Definition,
  • Life insurance offered as part of an employee benefit package where the employee agrees to pay the insurance premiums.