Employee Benefits Every Employer Must Provide

When you run a business and employ people, you have to be ready to provide a few basic employee benefits. Employees actually expect these benefits when they apply for jobs in various companies big or small. Google, for example, is one of the most sought after employers. The rosy perks and the unconventional work environment in its headquarters gained quite a bit of publicity in recent years. While it is a reality that bigger companies with deeper pockets can afford to give better benefits to their employees, it does not mean that small companies should not provide the same benefits to their employees. All employees need to know and feel that their employers care enough to provide them with their basic needs at the very least.

employee benefits

Paid Leaves – your employees need some time off every once in a while. Just because you are working on lean staffing does not mean that you cannot let them go on paid leaves several times in a year. Have a set number of rest days in a year that each employee can take the day off and still get his salary for the day. If you cannot afford to have more than one employee away at any given day, work on a leave schedule for each employee.

Social Security – depending on where you are located in the world, this employee benefit could be mandated by the government. This makes employees eligible for social security services as provided by the local or national government. Check with your local business regulatory agency to find out what kind of social security employee benefits you are mandated to provide. There are forms that you will have to fill up. There might also be requirements for contribution sharing or matching between employers and employees. The amount of contribution employers and employees make usually influences the final benefits of each employee.

Health Care – this is a necessary expense for you if you wish to lessen your employees’ sick days. This benefit is not only for times when your employees become sick. More importantly, the annual health checks, the diagnostic tests, and the doctor consultations help prevent the onset of illness. With this benefit, your employees will not have to ask you for financial assistance to pay for their health care needs. There are different health care packages that you can avail of and include in your employee benefits program.

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To Get Social Security Benefits Work Until You Reach At Full Retirement Age

If you are going to be retired, you are prepared to take advantage of the benefits your profession has earned you. Social Security includes if you live in America. At first, you need to know how the application scored before you apply for receiving maximum benefits from this government program.

You need to take many decisions before filling out your Social Security application. Whether you are going to apply after completing your retirement age (age 66) or apply at an early age (age 62). If you are married then it is better you must calculate your earnings. When your partners start receiving benefits? All the queries need to be answered in advance.

The first main thing you must know is that your benefits will be based on your top 35 years of earnings. But it is true that most people earn more in the last years of their job, it is really beneficial to continue working if you can add more high earning years to your account. Working more than retirement age with a good salary could considerably increase the amount of Social Security benefits you receive at the time of retirement.

It is better to take retirement after you reach at full retirement age. Work as much as you can. For each year your social security benefit will be adjusted lower if you retire early. If you retire at age 62 then you will get the maximum reduction of 25%. Whereas, waiting until you reach full retirement age will increase monthly benefits by as much as 30%.

If you choose Social Security early then there is a maximum earnings limit you must stick to if you wish to continue receiving benefits. But, once you reach full retirement age you will not get any part of your salary. This is the main reason that why you should work until you reach at full retirement  age  You have to pay Social Security taxes on your salary, but if your earnings increase after retirement your benefits will be recalculated to include your latest contributions.

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