Health insuranceInsurance covering health-related expensesHealth insurance or medical insurance (also known as medical aid in South Africa) is a type of insurance that covers the whole or a part of the risk of a person incurring medical expenses. As with other types of insurance, risk is shared among many individuals.Disability insuranceDisability Insurance, often called DI or disability income insurance, or income protection, is a form of insurance that insures the beneficiary's earned income against the risk that a disability creates a barrier for completion of core work functions. For example, the worker may be unable to maintain composure in the case of psychological disorders or sustain an injury, illness or condition that causes physical impairment or incapacity to work.
Salary packagingSalary packaging (also known as salary sacrifice or salary exchange) is the inclusion of employee benefits (also called fringe benefits) in an employeeremuneration package in exchange for giving up part of monetary salary. Such arrangements are entered into most commonly if there are tax or other benefits to be derived by the employer or employee from the arrangement.
SalaryA salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. Salary can also be considered as the cost of hiring and keeping human resources for corporate operations, and is hence referred to as personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts.
WageA wage is the price of labor. Examples of wages or wage payments include payments such as minimum wage, prevailing wage, and yearly bonuses, and payments such as prizes and tip payouts. Wages are part of the expenses that are involved in running a business. Wage payment is an obligation due to an employee regardless of the profitability of the company.
Life insuranceLife insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Depending on the contract, other events such as physical complications or illness can also trigger payment. The policyholder typically pays a premium, either regularly or as one lump sum.Dental insuranceDental insurance is a form of health insurance designed to pay a portion of the costs associated with dental care.
Child careChild care, also known as day care, is the care and supervision of one or more children, typically ranging from three months to 10–12 years old. Although most parents spend a significant amount of time caring for their child(ren), childcare typically refers to the care provided by caregivers who are not the child's parents. Childcare is a broad topic that covers a wide spectrum of professionals, institutions, contexts, activities, and social and cultural conventions.Tuition paymentsTuition payments, usually known as tuition in American English and as tuition fees in Commonwealth English, are fees charged by education institutions for instruction or other services. Besides public spending (by governments and other public bodies), private spending via tuition payments are the largest revenue sources for education institutions in some countries.PensionRetirement fundA pension (; from Latin pensiō 'payment') is a fund or pay-as-you-go scheme into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work.British EnglishBritish English is the set of varieties of the English language native to the United Kingdom, especially Great Britain. More narrowly, it can refer specifically to the English language in England, or, more broadly, to the collective dialects of English throughout the United Kingdom taken as a single umbrella variety, for instance additionally incorporating Scottish English, Welsh English, and Northern Irish English.
EmploymentEmployment is a relationship between two partiesregulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work.perkRelated word or term.*As an Amazon Associate I earn from qualifying purchases.