A reputed hostel, GyanPradan provides medical aid and free education to children of its employees. Which incentive is being highlighted here? State its category and name any two more incentives of the same category.

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Solution

GyanPradhan has given perquisites and fringe benefits to the employees in the form of free education to children and medical aid.
Perquisites and fringe benefits are a type of Financial incentive. Some other financial incentives are:

Bonus: Additional reward over and above the salary such as gifts, festival bonus, etc.

Retirement Benefits: Offering retirement benefits to employees such as pensions, gratuity, provident fund, etc.

Stock Option: Offering the employees shares of the company at a price lower than the market price

Profit-Sharing: Sharing a portion of the profit with the employees (any two)

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