Use two textbook companies today and give MANY examples of the companys' benefits listed below: Legally-Required...

Use two textbook companies today and give MANY examples of the companys' benefits listed below:

Legally-Required Benefits
Retirement-Related Benefits
Insurance-Related Benefits
other benefits

Expert Solution

Legally required benefits
Legally required benefits signify the benefits which most employers should be paid to keep in accordance with the federal laws of the USA. These benefits are exempted from security taxes. Examples of legally required benefits are as follows:
• Unemployment insurance: Employees are eligible to claim unemployment insurance from the company if they are thrown out without any valid reason. Employees should apply it within 26 weeks
• Workers compensation insurance: It is financial assistance for injured workers. The organization is liable to compensate a worker if a worker gets injured or falls ill in the workplace.
• Family and medical leave: This opportunity allows employees to avail additional benefits for the family. The organization is bound to allow job-protected leave for employees for any medical purpose.
Retirement related benefits
It highlights the benefits a person can avail from his previous organization after retirement. Examples of retirement benefits are as follows:
• Pension benefits
• Health insurance benefits from a previous organization
• Availing tax-free lump-sum
• Getting support for dependants
Insurance-related benefits
Insurance is a legal agreement between the insurance company or an individual. Insurance offers benefits to individuals in case of any loss, damage or any contingency. Examples of insurance benefits are described below
• Healthcare support and Mediclaim for both individual and his family
• Education support through various easy loans
• Home insurance benefit via low-interest loans
Other benefits
Other types of benefits a company provides are as follows:
• Disability care benefit
• Employee assistance benefit
• Pet insurance benefits

keosha answered 2 years ago

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