Fringe Benefits | Meaning and Definition

What are Fringe Benefits? 

These are the benefits that are additionally added to the employee’s normal salary. These are also referred to as Employee Benefits. 

Example:

The fringe benefits are compensation for the workers, retirement plans, health insurance, family and medical leave, etc. These are the most common examples of fringe benefits. The less common fringe benefits include meal subsidization, paid vacation, commuter benefits, etc. 

Tax-free benefits: 

  • Achievement awards
  • Facilities for the athletes
  • Health benefits
  • Assistance for education
  • Dependent Care assistance
  • Reduction in the tuition
  • Meals
  • Retirement Planning Services
  • Discounts for the Employees
  • Transportation facilities
  • No-additional cost services
  • Permission for lodging on the business premises