Essay about Employee Benefits Required By Law - 6718 Words

Employee Benefits Required by Law nbsp;nbsp;nbsp;nbsp;nbsp; The legally required employee benefits constitute nearly a quarter of the benefits package that employers provide. These benefits include employer contributions to Social Security, unemployment insurance, and workers’ compensation insurance. Altogether such benefits represent about twenty-one and half percent of payroll costs. Social Security nbsp;nbsp;nbsp;nbsp;nbsp;Social Security is the federally administered insurance system. Under current federal laws, both employer and employee must pay into the system, and a certain percentage of the employee’s salary is paid up to a maximum limit. Social Security is mandatory for employees†¦show more content†¦It is possible for an individual who dies or becomes totally disabled at an early age to be classified as fully insured with less than 40 quarters. To receive old age insurance benefits, covered individuals must also meet the test of retirement. To meet this test, persons under 70 cannot be earning more than an established amount through gainful employment. This limitation of earnings does not include income from sources other than gainful employment such as investments or pensions. Social security retirement benefits consist of those benefits which individuals are entitled to receive in their own behalf, called the primary insurance amount, plus supplemental benefits for eligible dependents. These benefits can be determined from a prepared table. There are also both minimum and maximum limits to the amount that individuals and their dependents can receive. nbsp;nbsp;nbsp;nbsp;nbsp;The Social Security program provides benefit payments to workers who are too severely disabled to engage in gainful employment. In order to be eligible for such benefits, an individual’s disability must have existed for at least 6 month and must be expected to continue for at least 12 months. Those eligible for disability benefits must have worked under Social Security for a t least 5 out of the 10 years before becoming disabled. Disability benefits, which include auxiliary benefits for dependents, are computed on the same basis as retirement benefits and are converted to retirementShow MoreRelatedEmployee Benefit Package for Bostic Colleges Inc.879 Words   |  4 PagesEmployee Benefit Package for Bostic Colleges, Inc. Since its onset in 1966, Bostic Colleges, Inc. has provided quality college education to non-traditional students. This could not have been possible without the dedication and hard work of high quality employees. It is with these individuals in mind that Bostic Colleges has decided to revamp its benefit package. The company has thoroughly researched what employees consider to be the most desirable benefits offered by employers and based its new benefitRead MoreWeek 4 Assignment 2 Employement Law and Complaince Plan Paper951 Words   |  4 PagesEmployment Law and Compliance Plan Shawna Bronson HCA/260 March 2, 2013 Employment Law and Compliance Plan A medical office needs to be compliant with employment laws; this will ensure they do not have lawsuits that could patiently put a company out of business. This also helps the offices run smoothly and free from errors. There are several employment laws a few of them are the American with Disabilities Act (ADA), the Employee Retirement Income Security Act (ERISA) and the Health InsuranceRead MoreEssay On Tennessee Labor Laws1147 Words   |  5 PagesTennessee Labor Laws: Everything You Need to Know Tennessee labor laws provide that the minimum wage in the State of Tennessee is $7.25 an hour. If employees receive tips as part of their compensation, employers can pay the employee a lower minimum wage so long as the employee makes up for the difference in tips. A typical position in which an employee receives tip is a waiter/waitress position in a restaurant. With regard to overtime payment, employers must pay non-exempt employees 1.5 times moreRead MoreBenefits And Benefits Of Employee Compensation1395 Words   |  6 PagesEmployee compensation is all forms of pay and rewards which are received by employees for completing their job duties as outlined by their employer. Compensation is classified two ways, direct and indirect compensation. Direct compensation covers wages and salaries, bonuses, commissions and incentives. With indirect compensation, benefits are supplied by employers, and nonfinancial compensation includes recognition, rewarding jobs, and flexible work hours in order to accommodate each person’s ownRead MoreTexas Labor Code Anti Discrimination Provisions1467 Words   |  6 PagesTexas Labor Code Anti-Discrimination Provisions Texas has its own laws for employment discrimination but employers who abide by the federal statute will be safe under the Texas state law as well. The reason for this is that the Texas Labor Code Anti-Discrimination Provisions are parallel with the Federal Discrimination guidelines. However, there is a trend throughout cities and counties within America that allow these local municipalities to have their own ordinances. In Texas, local government canRead MoreBenefits For Part Time Workers1162 Words   |  5 Pages Case Study 3: Benefits for Part-Time Workers Ken Davis Liberty University Introduction In this weeks’ case we have Jackson, Smith and Henderson (JSH) Certified Public Accountants (CPA) one of the fastest growing CPA firms in the area. The firm has â€Å"just under 100 employees† (Martocchio, 2015, p.260) of which two have requested part-time statues. The firm had already considered hiring additional part-time workers, consequently the firm need to make a Human Resource (HR) decisionRead MorePregnancy Discrimination Essay543 Words   |  3 PagesDiscrimination There are many issues to consider in pregnancy discrimination. The well-being of the child, the well-being of the mother, employer/employee relations, as well as gender issues. There are however several State and Federal laws that protect people against pregnancy discrimination. Two of the Federal laws are the Pregnancy Discrimination Act and the Family and Medical Leave Act. The Pregnancy Discrimination Act was an amendment to title VII of the Civil Rights ActRead More Workers? Compensation Essay788 Words   |  4 Pages nbsp;nbsp;nbsp;nbsp;nbsp;Workers’ compensation is meant to protect employees from loss of income and to cover extra expenses associated with job-related injuries or illness. Accidents in which the employee does not lose time from work, accidents in which the employee loses time from work, temporary partial disability, permanent partial or total disability, death, occupational diseases, noncrippling physical impairments, such as deafness, impairments suffered at employer-sanctioned events,Read MoreSample Resume : Recruitment And Selection1612 Words   |  7 Pages Job Description Job Identification Title: Benefits, Wellness and Accessibility Offer Job category: Full-time Department: Human resources Reporting relationship: Reports directly to human resource Physical location: Head office Toronto Safety hazards: None Summary The benefits, wellness and accessibility officer is required to perform the executive-level tasks of reviewing and processing benefits and wellness claims. The officer is required to maintain Updated records of all applications