A reputed hostel, Gyan Pradhan provides medical aid and free education to children of its employees. Which incentive is being highlighted here? State its category and name any two more incentives of the same category.
Financial incentive category is being used in the above case as Gyan Pradhan provides medical aid and free education to children of its employees and this is known as Perquisites. Perquisites means apart from basic salary, some companies offer fringe benefits to employees like rent free accommodation, education of children, medical allowance, car allowance, etc.
The other two incentives of this category are:
1. Bonus: It is a one time reward for high performance. Bonus may be paid in cash or kind over and above the salary. For example, performance bonus, 100% attendance bonus, festive bonus etc.
2. Retirement Benefits: Several retirement benefits such as provident fund, pension, and gratuity are provided to the employees as a financial security after retirement.
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Financial incentive category is being used in the above case as Gyan Pradhan provides medical aid and free education to children of its employees and this is known as Perquisites. Perquisites means apart from basic salar...
Step-by-step explanation:
• Financial incentive category is being used in the above case as Gyan Pradhan provides medical aid and free education to children of its employees and this is known as Perquisites
• Perquisites means apart from basic salary, some companies offer fringe benefits to employees like rent free accommodation, education of children, medical allowance, car allowance, etc
•
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• The other two incentives of this category are:
Students often lose marks by skipping steps, writing incomplete explanations, or misunderstanding keywords used in the question.
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