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Benefits, Employee

Employee benefits represent the part of the total compensation package, other than direct cash compensation for work performed, that is provided to employees in whole or in part by employer payments. These benefits are often referred to as indirect compensation. Employee benefits seek to provide insurance against uncertain events and raise living standards through targeted services.

Employee benefits in the United States are provided through a combination of employer, individual, and government programs. There exists a core of mandatory government benefits, including social security, unemployment insurance, workers compensation insurance, health care coverage, and family and medical leave. Employers can add additional voluntary programs that meet the needs of their employee population, with many of those eligible for preferential tax treatment.

History

While the origins of employee benefits can ...

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