Employee Compensation & Benefit

Monetary compensation paid by employer to an employee in exchange for work done. – basic pay- refer to

• Benefit

• Wages

• Incentive

• Salary

Benefit is the payment is tied to the achievement of specific objectives that have been pre-determined and communicated to the employees that are on the plan

• True

• False

To maximize profit and to retain the best employee refer to goal of remuneration of

• employee

• employer

Wages system have two system that are

• work related and monthly

• weekly and piece work

• time related and payment by result

Increase morale of employees, which may lead to higher productivity

• purpose of benefit

• importance of benefit

• impact of benefit

Below are statutory benefit except

• maternity leave, sick leave

• paternity leave, marriage leave

• public holiday and EPF

a)Compulsory savings system for workers.

Employees are liable to pay monthly contributions to the fund at the rate 11% of their wages. Employers are required to deduct this amount from their employees’ wages. refer to

• SOCSO

• Employement Provident Fund

• PERKESO

• NIOSH

Death of relative leave is compulsory leave

• true

• false

Club membership and accommodation at holiday resorts, canteen, gymnasium are the others benefit that company can give to employee if necessary

• true

• false

Sponsorship to attend conferences and Long service awards are refer to

• financial reward

• non financial reward

• incentive

• benefit