Health insurance is one of the most important perks of a salaried job. Almost every corporate company offers a health insurance cover to its employees.
Hiring an employee or taking up a job is a lot more than just looking at the salary. Apart from the work culture, responsibilities, and scope of growth of the company, benefits for the employees are what make the package complete. There are a few benefits that directly help you save money, while some elevate your quality of life. It is essential to be aware of the benefits your employer offers.
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List of Employee Benefits:
Paid leaves are Offered
Every employee has the right to enjoy paid leaves. Apart from annual leave, you are entitled to apply for sick leaves as well. There may be variation in policies for these leaves however, they are a part of the deal. Maternity leaves may vary from 3 months to 6 months depending on the sector you work in. There are a few companies that offer casual leaves as well. A lot of companies offer paternity leaves as well. These leaves are beside the weekly offs that you are entitled to.
Avail the Benefits of Group Health Insurance
Health insurance is one of the most important perks of a salaried job. Almost every corporate company offers a health insurance cover to its employees. As a part of this benefit, you will be entitled to avail of health insurance under the category of group health insurance policy. The company invests in group health insurance for all its employees, which covers the insured as well as the immediate family of the insured. Since this insurance policy has minimal coverage, you can opt for add-ons to add an extra layer of protection, for which a comprehensive policy in addition to your group health insurance gives the best offer. A comprehensive policy has extensive features, higher sum assured, and consequently more benefits.
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Look for a Retirement Plan
Most companies offer retirement plans. These are basically pension plans and they are at the discretion of the employer. These plans are apart from the Provident Fund that is mandatory as per the government. This financial security comes if you have been in the company for a particular number of years and you are retiring from the company.
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Keep a Tab on Corporate Discounts
Companies often have tie-ups with hotels and restaurants and offer coupons or discounts to employees. Companies that have brands of their own often offer a sum to employees to purchase the products. Some companies offer air miles or other discounts on products or services.
Provides House Rent Allowance
Employers who cannot provide accommodation, provide House Rent Allowance to their employees. This is a part of the salary structure and is given to employees who are not staying in their hometowns and who have taken a house for rent.This is extremely beneficial for employees as rents tend to engage a big chunk of the paycheck.
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Understand the Performance Bonus policy
Every person contributes to their company in their own capacity. Every role is different and that is why a performance bonus is a way to distinguish and reward the ones who have gone the extra mile. Performance bonus is decided based on the slots for appraisal. This amount boosts morale and makes employees feel appreciated. A performance bonus may be a monetary reward or a gift voucher for a product or a service.
Look for Child-Care Facilities
A lot of companies are becoming more conscious of the needs of working parents. There are play areas for kids and daycare facilities for those who have to bring their kids to work. If there isn’t an area inside the premises, then there are collaborations with day-care facilities in the city close to the workplace. This benefit is important for those working parents who wish to pursue their careers with peace of mind.
Sponsorship for Further Studies Offered
Professional progress after starting a job is furthered by companies to ensure their employees remain updated. Sponsoring employees to get a degree or add a course to their resume, not only benefits the employee but also the employer. The constant in-house training ensures that knowledge stays fresh in the minds of employees and they stay abreast with the rest of the world.
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These are some of the benefits that every employee should know in order to avail most of it at their working space. Look for these benefits right at the time your offer letter is issued, and identify and exercise the benefits mentioned.
(India CSR)
