HR technology

HRA stands for House Rent Allowance, which helps employees cover the cost of their housing.

Basic salary refers to the core wage paid to an employee before any allowances, bonuses, or benefits.

State benefits provide financial support through programs like unemployment insurance, healthcare, and welfare.

Benefits pay for health insurance, paid leave, retirement savings, and other employee perks, supporting their well-being.

Employee benefits range from health insurance and retirement plans to wellness programs and paid leave.

Employee benefit allowances cover specific costs like health insurance, transportation, or other necessary expenses.

The role of benefits is to enhance employee satisfaction, reduce turnover, and improve overall productivity.

Benefits to employees include health coverage, retirement savings, and paid time off, improving job satisfaction and retention.

Employees may be required to pay taxes on certain expenses, such as travel or meals, depending on tax regulations.

Means-tested benefits are determined based on an individual’s income, making them eligible for certain perks or subsidies.