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what are legally required benefits and why they required by law? can any of these benefits...

what are legally required benefits and why they required by law? can any of these benefits be waived?

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Answer #1

There are many benefits to the employees, out of which some are legally required by the law and some are voluntarily provided by the employer.

The following are some of legally required benifits:

  • Social Security Taxes: This ensures that correct employee is credited with the benefits.
  • Unemployment Insurance: This will help the employees financially in case of loss of their jobs.
  • Workers Compensation Insurance(Disability Insurance): This will provide financial assistance to the workers who were injured while in work and were not able to perform their duties because of such injury.
  • Health Insurance: Insure the health of full time employees on whom the employer was dependent to perform the work.
  • Family and Medical Leave: This provides the employees with leave for the medical and family reasons without loss of jobs.

Health Insurance is legally required for the companies with 50 or more full time employees.

Family and Medical Leave is required for all public employees and employees of private firms with 50 or more employees.

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