INTRODUCTION

Benefit is a basic word and utilized to describe a substantial elements of recompense which is unique and provided to the worker in non-cash form (there are a number of exception) and known as fringe benefits & services, other terms as perquisites perks, allowances etc. are also utilized.

There is a distinction among benefits and services. Benefit applies to those objects for which a direct monitory worth to the employees, may be ascertained, as in the case of, insurance, pension holiday pay, etc. Services apply to such kind of items as companies, companies holiday homes, newspaper etc. for which direct money value cannot be willingly established by the worker. Perks is something additionally to the payment; car fuel etc. Allowance could be total of money given at regular interval to cover a number of special circumstances like clothing allowance, canteen allowance, etc.