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A '''fringe benefit''', also called a "perquisite" or "perk," is a form of pay for the performance of services, in addition to a persons base pay.
A fringe benefit is any non-wage payment or benefit (e.g., [[pension]] plans, profit-sharing programs, vacation pay, and company-paid life, health, and unemployment [[insurance]] programs) granted to employees by employers. They may be required by law, granted unilaterally by employers, or obtained through collective bargaining. Employers' payments for fringe benefits are included in employee-compensation packages.
Fringe benefits constitute a higher proportion of total employee compensation in [[Europe]] than in the [[United States]]. In Europe they are often the result of [[legislation]]; in the United States collective bargaining has been more important in gaining such benefits. The prevalence of fringe-benefit programs increased sharply during [[World War II]] because controls on this type of compensation were less stringent than controls on wages.
== References ==
*http://www.britannica.com/eb/article-9035448/fringe-benefit
*http://www.irs.gov/pub/irs-pdf/p15b.pdf
*http://www.hoover.org/publications/ednext/3347981.html
[[category:economics]]