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Employee Benefits (Different kinds of Flexible Benefits (Health Care…
Employee Benefits
Different kinds of Flexible Benefits
Payment for time not worked
Sick Pay and Paid Time Off
Paid Vacation
Sabbaticals
Other Types of Payment for Time Not Worked
Health Care
Managed-Care Health Organisations
Fee-for-Service Plans
Consumer-Driven Health Care Plans
On-Site Health Care
Major Medical Benefits
Dental and Vision Care
Employee Services
Domestic Partner Benefit
Educational Assistance
Food Services/Subsidized Cafeterias
Scholarship for Dependants
Relocation
Child Care
Life Insurance
Employee Stock Option Plans
Retirement Plans
Defined Benefit Plans
Defined Contribution Plans
Cash Balance Plans
Premium Pay
Voluntary Benefits
Cafeteria Plans
Premium Only Plan (POP)
Flexible Spending Accounts (FSA)
The different kinds of fixed benefits
Work Injury Compensation Act
Employment Act
Salary
Workplace Safety and Health Act (WSHA)
Central Provident Fund Act (CPF)
Definition of Employee Benefits
It is all indirect financial rewards and non-financial payments that are not included in direct financial compensation
Fixed Benefits
Benefits legally required by the statutory or common law
Flexible Benefits
Benefit payments not mandated by the statutory or common law
Definition of Gig Economy
A free market system in which temporary positions are common and organizations contract with independent workers for short-term engagements.
Definition of Gig Economy Employee
Workers that work jobs which tends to be temporary or project-based which requires them to complete particular task or for a certain period of time.
MOM Guidelines on Gig Employee Employment Terms
Terms of products or services to be delivered are discussed with SEPs.
The terms agreed upon are documented in written key terms and provided to SEPs before any products or services are delivered.
The written key terms are set out clearly
Managing Benefits