INDEX

INTRODUCTION 6

TYPES OF FRINGE BENEFITS 9

OBJECTIVES OF FRINGE BENEFITS 12

FLEXIBLE BENEFITS 14

CASE STUDY 17

SUGGESSIONS 26

CONCLUSION 27

Introduction

What is benefit? The term ‘benefit’ has been in vogue in Indian industry since ling. This is

called by various names such as Fringe benefits, Wage supplements, supplementary

compensation, non- wage benefits, indirect wage, hidden payment, etc. however the term

‘fringe benefit’ has become a catch word & has been more common in practice. Here, the two

terms ‘benefits’ and ‘fringe benefits’ have been taken as interchangeable & synonymous.

In simple words, benefits means membership based non financial rewards given to

employees. “Benefits define as any wage cost not directly connected with employee’s

productive effort, performance, service or sacrifice”.

The term Fringe benefits refer to various extra benefits provided to the employees, in addition

to the compensation paid in the form of wage or salary. It is also defined as those benefits

which are provided by an employer to or for the benefit of an employee and which are not in

the form of wages, salaries and time-related payments.

Different terms are used to denote fringe benefits. They are welfare measures, social charges,

social security measures, supplements, sub-wages, employee benefits etc. The ILO described

“fringe benefits as Wages are often augmented by special cash benefits, by the provision of

medical and other services or by payments in kind, that forms part of the wage for

expenditure on the goods and services”. In addition workers commonly receive such benefits

as holiday with pay, low cost meals, low-rent housing etc. Such additions to the wage proper

are sometimes referred to as fringe benefits. Benefits that have no relation to employment or

wages should not be regarded as fringe benefits even though they may constitute a significant

part of the workers total income.

Thus, fringe benefits are those monetary and non-monetary benefits given to the employees

during and post “employment period which are connected with employment but not to the

employee contributions to the organization.

Coverage under fringe benefits

The term fringe benefits covers bonus, social security measures, retirement benefits like

provident fund, gratuity, pension, workmen compensation, housing, medical, canteen, co-

operative credit, consumer stores, educational facilities, recreational facilities, financial

advice and so on. Thus, fringe benefits cover a number of employee services and facilities

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provided by an employer to his employees and in some cases to their family members also.

Welfare of employee and his family members is an effective advertising and also a method of

buying the gratitude and loyalty of employees. But, while some employers provide these

services over add above the legal requirements to make effective use of their work force,

some restrict themselves to those benefits which are legally required.

Need for Extending Fringe Benefits

During the World War II certain non-monetary benefits were extended to employees as

means of neutralizing the effect of inflationary conditions. These benefits which include

housing, health, education, recreation, credit, canteen etc. have been increased from time to

time as a result of the demands and pressures from trade unions. It has been recognized that

these benefits help employees in meeting some of their life contingencies and to meet the

social obligation of employers.

Most of the organizations have been extending the fringe benefits to their employees, year

after year, for the following reasons,

Employee Demands

Employees demand more and varied types of fringe benefits rather than pay hike because of

reduction in tax burden on the part of employees and in view of the galloping price index and

cost of living.

Trade Union Demands

Trade Unions compete with each other for getting more and a new variety of fringe benefits

to their members such as life insurance, beauty clinics. If one union succeeds in getting one

benefit, the other union persuades management to provide a new model fringe. Thus, the

competition among trade unions within an organization results in more and varied benefits.

Employer Preference:

Employers prefer fringe benefits to pay-hike, as fringe benefits motivate the employees for

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better contribution to the organization. It improves morale and works as an effective

advertisement.

As a Social Security:

Social security is a security that society furnishes through appropriate organization against

certain risks to which its members are exposed. These risks are contingencies of life accidents

and occupational diseases. Employer has to provide various benefits like safety measures,

compensation in case of involvement of workers in accidents, medical facilities etc with a

view to provide security to his employees against various contingencies.

To Improve Human Relations:

Human relations are maintained when the employees are satisfied economically, social and

psychologically.

Fringe benefits satisfy the worker economic, social and psychological needs. Consumer

stores, Credit facilities, Canteen, Recreational facilities etc satisfy workers social needs,

whereas retirement benefits satisfy some of the psychological problems about the post-

retirement life. However, most of the benefits minimize economic problems of the employee.

Thus, fringe benefits improve human relations.

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TYPES OF FRINGE BENEFITS

Organizations provide a variety of fringe benefits. The fringe benefits are classified under

four heads as given here under: 

1. for Employment Security: 

Benefits under this head include unemployment, insurance, technological adjustment pay,

leave travel pay, overtime pay, level for negotiation, leave for maternity, leave for grievances,

holidays, cost of living bonus, call-back pay, lay-off, retiring rooms, jobs to the

sons/daughters of the employees and the like. 

2. for Health Protection:  

Benefits under this head include accident insurance, disability insurance, health insurance,

hospitalization, life insurance, medical care, sick benefits, sick leave, etc. 

3. for Old Age and Retirement:

 

Benefits under this category include: deferred income plans, pension, gratuity, provident

fund, old age assistance, old age counseling, and medical benefits for retired employees,

traveling concession to retired employees, jobs to sons/daughters of the deceased employee

and the like. 

4. for Personnel Identification, Participation and Stimulation:

 

This category covers the following benefits: anniversary awards, attendance bonus, canteen,

cooperative credit societies, educational facilities, beauty parlor services, housing, income tax

aid, counseling, quality bonus, recreational programs, stress counseling, safety measures etc. 

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The fringe benefits are categorized as follows:

a) Payment for Time Not worked: Benefits under this category include: sick leave with pay,

vacation pay, paid rest and relief time, paid lunch periods, grievance time, bargaining time,

travel time etc.

b) Extra Pay for time Worked: This category covers the benefits such as: premium pay,

incentive bonus, shift premium, old age insurance, profit sharing, unemployment

compensation, Christmas bonus, Deewali or Pooja bonus, food cost subsidy, housing subsidy,

recreation. 

Employee Security

Physical and job security to the employee should also be provided with a view to promoting

security to the employee and his family members. The benefit of confirmation of the

employee on the job creates a sense of job security. Further a minimum and continuous wage

or salary gives a sense of security to the life. 

Retrenchment Compensation:

The Industrial Disputes Act, 1947 provides for the payment of compensation in case of lay-

off and retrenchment. The non-seasonal industrial establishments employing 50 or more

workers have to give one month’s notice or one month’s wages to all the workers who are

retrenched after one year’s continuous service. The compensation is paid at the rate of 15

days wage for every completed year of service with a maximum of 45 days wage in a year.

Workers are eligible for compensation as stated above even in case of closing down of

undertakings. 

Lay-off Compensation:

In case of lay-off, employees are entitled to lay-off compensation at the rate to 50% of the

total of the basic wage and dearness allowance for the period of their lay-off except for

weekly holidays. Lay-off compensation can normally be paid up to 45 days in a year. 

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Safety and Health

Employee’s safety and health should be taken care of in order to protect the employee against

accidents, unhealthy working conditions and to protect worker’s capacity. In India, the

Factories Act, 1948, stipulated certain requirements regarding working conditions with a

view to provide safe working environment. These provisions relate to cleanliness, disposal of

waste and effluents, ventilation and temperature, dust and fume, artificial humidification,

over-crowding, lighting, drinking water, latrine urinals, and spittoons. Provisions relating to

safety measures include fencing of machinery, work on or near machinery in motion,

employment of young person’s on dangerous machines, striking gear and devices for cutting

off power, self-acting machines, easing of new machinery, probation of employment of

women and children near cotton openers, hoists and lifts, lifting machines, chains ropes and

lifting tackles, revolving machinery, pressure plant, floors, excessive weights, protection of

eyes, precautions against dangerous fumes, explosive or inflammable dust, gas etc.

Precautions in case of fire, power to require specifications of defective parts of test of

stability, safety of buildings and machinery etc.

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OBJECTIVES OF FRINGE BENEFITS

The view point of employers is that fringe benefits form an important part of employee

incentives to obtain their loyalty and retaining them. The important objectives of fringe

benefits are:

1.To create and improve sound industrial relations

2.To boost up employee morale.

3. To motivate the employees by identifying and satisfying their unsatisfied needs.

4. To provide qualitative work environment and work life.

5. To provide security to the employees against social risks like old age benefits and

maternity benefits.

6. To protect the health of the employees and to provide safety to the employees against

accidents.

7. To promote employee’s welfare by providing welfare measures like recreation facilities. 

8. To create a sense of belongingness among employees and to retain them. Hence, fringe

benefits are called golden hand-cuffs.

9. To meet requirements of various legislations relating to fringe benefits.

Need for Extending Benefits to Employees

(i) Rising prices and cost of living has brought about incessant demand for provision of extra

benefit to the employees.

(ii)Employers too have found that fringe benefits present attractive areas of negotiation when

large wage and salary increases are not feasible. 

(iii)As organizations have developed or elaborate fringe benefits programs for their

employees, greater pressure has been placed upon competing organizations to match these

benefits in order to attract and keep employees.

(iv)Recognition that fringe benefits are non-taxable rewards has been major stimulus to their

expansion.

(v)Rapid industrialization, increasingly heavy urbanization and the growth of a capitalistic

economy have made it difficult for most employees to protect themselves against the adverse

impact of these developments. Since it was workers who are responsible for production, it

was held that employers should accept responsibility for meeting some of the needs of their

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employees. As a result, some benefits-and-services programs were adopted by employers

(vi)The growing volume of labor legislation, particularly social security legislation, made it

imperative for employers to share equally with their employees the cost of old age, survivor

and disability benefits.

(vii)The growth and strength of trade unions has substantially influenced the growth of

company benefits and services.

(viii)Labor scarcity and competition for qualified personnel has led to the initiation, evolution

and implementation of a number of compensation plans.

(ix)The management has increasingly realized its responsibility towards its employees and

has come to the conclusion that the benefits of increase in productivity resulting from

increasing industrialization should go, at least partly, to the employees who are responsible

for it, so that they may be protected against the insecurity arising from unemployment,

sickness, injury and old age. Company benefits-and-services programs are among some of the

mechanisms which managers use to supply this security.

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FLEXIBLE BENEFITS

What are Flexible Benefits?

Flexible benefits allows allow employees to pick benefits that most their needs. The idea is to

allow each employee to choose a benefit package that is individually tailored to his or her

own needs and situation. It replaces the traditional “one-benefit-plan-fits-all” programs that

dominated organizations for more than 50 years.

The average organization provides fringe benefits worth approximately 40% of an

employee’s salary. Traditional benefit programs were designed for the typical employees of

the 1950s—- a male with wife and two children at home. Less than 10% of employees now

fit this stereotype. While 25% of today’s employees are single, a third is part of two-income

families with no children. As such these traditional programs don’t tend to meet the needs of

today’s more diverse workforce. Flexible benefits, however, do meet these diverse needs.

They can be uniquely tailored to reflect differences in employee needs based on age, marital

status, spouses’ benefit status, number and age of dependents, and the like.

The three most popular type of benefit plans are modular plans, core-plus options, and

flexible spending accounts. Modular plans are pre-designed packages of benefits, with each

module put together to meet the needs of a specific group of employees. So a module

designed for single employees with no dependents might include only essential benefits.

Another, designed for single parents, might have additional life insurance, disability

insurance, and expanded health coverage. 

Core-plus plans consist of a core of essential benefits and a menu-like selection of other

benefits options from which employees can select and add to the core. Typically, each

employee is given “benefit credits,” which allow the “purchase” of additional benefits that

uniquely meet his or her needs. Flexible spending plans allow employees to set aside up to

the dollar amount offered in the plan to pay for particular services. It’s a convenient way, for

example, for employees to pay for health-care and dental premiums. Flexible spending

accounts can increase employee take-home pay because employees don’t have to pay taxes

on the dollars they spend out of these accounts.

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Linking Flexible Benefits and Expectancy Theory:

Giving all employees the same benefits assumed that all employees have the same needs. Of

course we know that assumption is false. Thus, flexible benefits turn the benefit expenditure

into a motivator.

Consistent with expectancy theory’s thesis that organizational rewards should be linked to

each individual employees goals, flexible benefits individualized rewards by allowing each

employee to choose the compensation package that best satisfies his or her current needs.

In order to have a sound benefits programs there are certain essential requirements. The

program should be based on specific objectives that are in line with the organizational

philosophy and policies. It should be affordable and cost effective.  Through surveys a benefit

package can be developed to meet the employees’ needs.

The category includes: (1) hours of work, (2) paid holidays, (3) shift premium (4) holiday

pay and (5) paid vacation.

Physical and job security to the employees should also be provided with a view to ensure

security to the employee and his family members. When the employee’s services get

confirmed his job becomes secure. Further, a minimum and continuous wage or salary gives a

sense of security to the life.

Employee’s safety and health should be taken care of in order to protect the employees

against accidents, unhealthy working conditions and to protect the worker’s productive

capacity. In India the Factories Act, 1948, stipulated certain requirements regarding working

conditions with a view to provide safe working environment. These provisions relate to

cleanliness disposal of waste and effluents, ventilation, and temperature, dust and fumes

artificial humidification, overcrowding, lighting, drinking water, latrine, urinals and

spittoons. Provisions relating to safety measures include fencing of machinery or near

machinery in motion.

Today, various medical services like hospital, clinical and dispensary facilities are provided

by organizations not only to employees but also to their family members.

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Employees State Insurance Act, 1948 deals comprehensively about the health benefits to be

provided. This Act is applicable to all factories, establishments running with power and

employing 20 or more workers.

Sickness benefits: Insured employees are entitled to get cash benefit for a maximum of 56

days in a year under this benefit.

Maternity benefit: Insured women employees are entitled to maternity leave for 12 weeks (six

weeks before the delivery and six weeks after the delivery) in addition to cash benefit of 75 p

per day or twice of sickness benefits whichever is higher.

Disablement benefits:  Insured employees who are disabled temporarily or permanently

(partial or total) use to employment injury and/or occupational diseases are entitled to get the

cash benefit under the head.

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COMPANY PROFILE

Introduction

After acquisition of the shareholding, Angel broking ltd, decided to transform

formerly known Angel broking Ltd. A detailed survey was conducted by

Team of Angel broking; different persons were sent to different parts of the country,

from Delhi to Mumbai, from bang lore to Calcutta, from Hyderabad to pan Jim, to have a

firsthand experience of the existing national trend and its possible shift in near future. Every

possibility of creating a matchless sharing company was looked into, which suited the Indian

environment and could reflect a modern and progressive INDIA. Team Angel broking after

acquiring considerable national exposure very cautiously blended features and characteristic

of a nationally respectable broking company into Angel broking Ltd. without compromising

on its economics. The team had learnt by now the ‘financial load’ this property could bear

and operate in profit. Therefore, without over burdening the property.

Angel Broking Limited is one of the leading and professionally managed stock broking firm

involved in quality services and research. Angel Broking Limited is a corporate member of

The Stock Exchange, Mumbai.

The membership of the company with The Stock Exchange Mumbai was originally in the

name of Mukesh R. Gandhi, which was eventually too

Turned into a corporate membership in the name of Angel Broking Limited.

Angel Broking Limited is managed by Mr. Dinesh Thakkar and he is well supported by Mr.

Mukesh Gandhi, a fifteen years veteran in the market.

The group is well supported by a professional and qualified research team and efficient

operations and back office team, which comprises of highly dedicated and qualified

individuals. Angel has an in-house, state of art research department.

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Angel believes in reaching out to the customer at the farthest end rather than by reaching out

to them. The company in its Endeavour to give its client the best has opened up several

branches all over Mumbai, which are efficiently integrated with the Head Office.

Angel Broking Limited is primarily into retail stock broking, with a customer base of retail

investors, which has been increasing at a compounded growth rate of 100% every year. The

company has huge network sub-brokers in Mumbai and other places outside Mumbai,

registered with SEBI, who act as channel partners for the company. The company presently

has total staff strength of around 150 employees who are spread accordingly across the head

office and all the branches.

Angel has empowered its physical presence throughout India through various strategies

which it has been adopting efficiently and effectively over a period of time, like opening up

of branches at various places, tie-ups with various agencies and sales agents, buy-outs of

smaller regional outfits and appointment of sub-brokers and franchisees. Moreover Angel has

been tapping and including high net-worth and self-employed individuals it its vast array of

clients.

Angel has always strived in the direction of delivering ultimate client satisfaction and

developing stronger bonds with its customers and chose partners. Angel has a vision to

introduce new and innovative products and services regularly. Moreover Angel has been one

among the pioneers to introduce the latest technological innovations and integrate it

efficiently within its business.

Work Culture

At Angel, we keep exploring new paths to provide the best value to all our internal and

external customers. We consider people as our biggest asset and believe in creating long term

relationships by nurturing talent from within. A fast-growing, forward-looking organization

like ours, demands HR to be a key responsibility area of our core management team.

Our HR team constantly explores ways to enhance and augment the knowledge base and

productivity of all Angels by providing various learning and development Programs. Our

three tier Leadership Development program helps all star performers to grow and develop

their managerial skills to become effective mentors for their teams and thereby take on the

next level of responsibility effectively.

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Ours is a winning team of highly determined, motivated, and adaptable people, all working

diligently to take Angel's exciting success story forward.

HR Philosophy

At Angel, People come first. Along with our customers, our employees are equally vital to

our organization. The Business of HR is to foster an entrepreneurial spirit – whereby Angels

can operate with ownership as an entrepreneur (profit center) within the confines of their job

role and earn over and above their fixed salaries. 

We believe in inculcating a sense of responsibility and ownership in all Angels which brings

out the entrepreneurial zeal to explore potential within as well as beyond job boundaries.

Our HR Philosophy is to engage employees at professional, emotional and material

levels.

We aim to create an environment conducive to both personal and professional development

of the employees, leading to a productive and happy work force

Angel believes that people impact business and therefore each and every Angel is a key

resource and a valuable asset

Our business philosophy of being transparent in all our dealings with our customers, is

equally applicable in dealings with employees

We encourage initiative, provide professional freedom and empower Angels based on trust

Employee engagement

Team HR at Angel works effectively to create a work environment and performance culture

that fosters team spirit and enhances employee productivity through motivation and positive

ambition.

Our HR team is continually working to rationalize and restructure measures to ensure better

employee relationship management, employee communications and relations, recruitment

and training need analysis; program design and implementation, performance evaluation and

other work-life initiatives.

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“We Don’t Just Build Careers...We Build Lives”

Testimonials from employees about what makes them to be proud to be an Angel and how

this organization has made a difference to their lives….

Vikram Divekar 

Sr. Manager – E Commerce

I joined Angel as a Trainee – Web Designer in June 2005 and within a short span I have

grown to the role of Senior Manager – E-commerce, handling a team of 25 people. Angel not

only focuses on retention but kindles the entrepreneurship spirit in each and every employee.

Here equal opportunities are given to everyone and new & innovative ideas are welcomed.

Dhaval Shah

Business Manager

In am proud to be an Angel because of transparency of our organization for giving me path

for next level of growth. I joined this company as a Sales Executive. In the first 3 months I

achieved my targets and was soon promoted as a Team Leader handling a team of 8

members. Within a short span of 6 months, I was promoted as a Business Manager heading

my Branch. The recognition of work performance is a significant as aspect of Angel’s work

culture. As an example I have received a trophy for outstanding performance from the senior

management. I am very happy to be a part of the Angel family.

Why you should work with us?

Fast paced, enriching career with exposure to best business practices

Fair compensation & opportunities for growth / promotion based on merit

Vibrant work culture and opportunities for training, recreation and social interaction

Progressive HR policies with an open door approach and proactive processes to maintain

high morale

Security of employment, subject to minimum acceptable performance

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In the view of Mr. Prasad V. Naik, (Branch Head) in his “Human Resources: A Relook to the

Workplace”, states that HR policies are being made flexible.  From leaves to compensations,

perks to office facilities, many companies are willing to customize policies to suit different

employee segments. The  older  employees want social security benefits, younger  employees

want  cash in hand  because  they can’t think  of sticking  to a company for many years and 

retire  from the  same  company. Therefore ‘one jacket fits all’ will not be right to

motivate the talents and retain them.

Types of benefits that are provided by Angel Broking Ltd.

Health care:-

Private medical insurance (PMI)

Employee assistance programs (EAPs)

Personal accident insurance

Healthcare cash plans

Subsidized gym membership

Child care:

Employer funding of childcare

Employer makes full or partial payment for the cost of childcare

Services, regardless of location.

On-site childcare

Employer manages a childcare facility at the work site.

Off-site care

Employers, or a group of employers, manage a childcare facility away from

the work site.

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Retirement plans

Defined benefit scheme

Guarantees a certain payout at retirement, the sum of which is based on an

employee's salary and length of employment.

Defined contribution scheme

Is built up through cash contributions from both the employer and the

employee. The final fund employees stand to gain, however, is dependent on

the stock market performance of their investment choices. This scheme may

include:

401(k) plan

Individual Retirement Accounts (IRA)

Simplified Employee Pension (SEP)

Insurance Plans

Life insurance

Health insurance

Disability insurance

Other

Time-off Plans

Sick Leave

Vacations

Paid holidays

Sabbaticals

Miscellaneous

Work-life balance

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Telecommuting

Subsidized food services

Fitness programs

Recreational opportunities

Education subsidies

Financial assistance

Stock options

Parking

Transportations

Travel expenses

Relocation expenses.

Other than these benefits fringe benefits offered to employee in Angel broking Ltd.

Are:-

Perquisite taxable in the hands of employee (up to F.y 2004-2005)

Interest free or concessional loan

Meal, lunch, refreshment etc.

Travelling, touring, accommodation.

Gift voucher, token.

Credit card

Membership of club

Use of movable assets

Transfer of movable assets.

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FBT = 33.66 % (30% + SC of 10 % +EC of 2%) of value of fringe benefits.

Note: FBT is not applicable if a person does not have any employee during previous year.

Payment of FBT in advance has to paid as per the above dates:-

Quarter ending 30th June-15th July.

Quarter ending 30th Sep – 15th Oct

Quarter ending 31st dec – 15th Jan

Quarter ending 31st march – 15th April.

The fringe benefits are distributed as follows:

1. Entertainment – 6.732%

2. Provision of hospitality -effective tax 6.732% (1.683% hotel)

3. Conference (6.733)

4. Sales promotion including publicity 6.732%

5. Employee welfare 6.732%

6. Conveyance, tour, travel (including foreign tour)

7. Accommodation 6.732%

8. Repairing, maintenance of vehicle. 6.732%

9. Mobile bills. 6.732%

10. Festival celebration 16.38%

11. Health club 16.83%

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12. Any other club. 16.83%

13. Gifts, scholarships. 16.83%.

All allowances and perquisites form part of salary.

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SUGGESTIONS

Funeral expenses charge of minimum RS 1000 to RS 2000 could be paid if the

labour’s mother/father or married husband/wife is dead.

As per the transport facility that the cost of transport per employee should be

economical and so for the purpose of the company should take proper care of it.

Employee should provided the facility such as Employee assistance programs &

wellness programs

Employees undervalue their benefits for many reasons including: employers

communicate the value of the benefits poorly, the employees have little or no choice

in benefits packages or options, and the employees misunderstand the market value of

benefits. So help them regarding this & make the fair treatment between all.

Involvement of family in non-monetary benefits will provide superior outcome.

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CONCLUSIONS

The study concludes that, the fringe benefits in “Angel Broking Ltd, jalgaon” are highly

effective. This study highlighted so many factors which will help to create the motivation &

job satisfaction among the labor force.

The company is having good welfare activities and the labors are satisfied with their benefit

schemes provided by the management. It is helpful for the growth of the company to improve

its productivity.

Labor welfare awareness meetings and presentation must carry out periodically, this in turn

helps to improve the labor satisfaction and the will show in the improvements of productivity.

Fringe benefits are essential part of labor welfare hence is very important to run the company

successfully so the company should follow the welfare activities regularly to improve the

labor satisfaction in their working environment.

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BIBLIOGRAPHY

Books

Dr. Gupta C.A. “Human Resources Management”, New Delhi, Sultan Chand

Sons Publishers, 2003.

Kothari, C.R. “Research Methodology”, New Delhi, New Age International (P)

Ltd., Publishers, 2004

Prasad L.M. “Human Resource Management”, New Delhi, Chand Sons

Publishers, 2003.

Subba Rao.P.Rao. “Human Resource Management”, New Delhi, Konarle

Publishers (P) Ltd., 2000.

Khanka “HRM” New Delhi, Chand Sons Publishers, 2003.

R.S.N. Pillai Bagavathi, “Statistics” New Delhi, S.Chand & Company Ltd., 2003.

Annual Reports of Organization

Internal Records of Organization

Encyclopaedia of social sciences, vol. Xv 1935, p-395.

Govt. Of India, ministry of labour & employment, main report of the labour

investigation committee, Delhi, 1946, p-336.Govt. Of India, report of the

committee on fringe benefits, Delhi, 1969, p-29. Ibid, p-4.

Circular No. 8/2005. The finance Act, 2005 (explanatory notes on the provisions

relating to fringe benefits.)

Websites:

www.humanresources.about.com .

www.citehr.com

www.Angelharmony.com

www.angelbrokingltd.com

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