Employees in India place a high value on additional employer-sponsored benefits, the cornerstone of which is medical insurance. In particular, the highly desired parental coverage, which is exclusive to India, is valued by Indian workers. There are several white-collar sectors and blue-collar companies where salary levels are above the pay barrier for statutory benefits that offer employer-sponsored health, personal accident, and term life insurance. Since the National Pension Scheme opened to the private sector in 2017 and the government announced enticing tax incentives, voluntary retirement savings through the scheme have significantly expanded. The Employees’ Provident Fund, the Employees’ State Insurance Scheme, statutory leaves, gratuities, and maternity leave are examples of statutory benefits. Common employee benefits include a vehicle or mobility allowance, subsidised or free meals, and internet and cell phone bill reimbursement.
Employees in India place a high value on additional employer-sponsored benefits, the cornerstone of which is medical insurance. In particular, the highly desired parental coverage, which is exclusive to India, is valued by Indian workers. There are several white-collar sectors and blue-collar companies where salary levels are above the pay barrier for statutory benefits that offer employer-sponsored health, personal accident, and term life insurance. Since the National Pension Scheme opened to the private sector in 2017 and the government announced enticing tax incentives, voluntary retirement savings through the scheme have significantly expanded. The Employees’ Provident Fund, the Employees’ State Insurance Scheme, statutory leaves, gratuities, and maternity leave are examples of statutory benefits. Common employee benefits include a vehicle or mobility allowance, subsidised or free meals, and internet and cell phone bill reimbursement.