fringe benefits

Quick Reference

Benefits, other than pay, bonuses, and pensions, provided for employees by their employers. Such benefits may include company cars, sports facilities, free or subsidized catering facilities, health services or insurance, childcare facilities, and free or subsidized accommodation or cheap mortgages. Employers provide fringe benefits for various reasons: to improve the health, morale, and thus the performance at work of their employees, to stimulate loyalty to the firm, and to reduce their own and their employees' joint tax liabilities.

Subjects: Economics.

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