Henry earns $68,000 per year, receives 15 days PTO, 8% retirement matching, Employee Benefits Health Insurance 70% FICA 7.65% and receives 70% employer-subsidized health insurance which totals $10,000. Calculate the benefit rate. Paid Vacation 15 days (PTO) Retirement 8% Matching A. 22% В. 34% C. 68% D. 32%
Henry earns $68,000 per year, receives 15 days PTO, 8% retirement matching, Employee Benefits Health Insurance 70% FICA 7.65% and receives 70% employer-subsidized health insurance which totals $10,000. Calculate the benefit rate. Paid Vacation 15 days (PTO) Retirement 8% Matching A. 22% В. 34% C. 68% D. 32%
Chapter19: Deferred Compensation
Section: Chapter Questions
Problem 33P
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The term employee benefits means the extra compensation provided by the employer to their employees as a part of the contract. Some benefits are mandatory for the employer to provide the employee; on the other hand, some of the benefits are provided by the employer at their will. Benefits are the types of incentives that the employer aims to increase the happiness and decrease the chances of the resignations of the employees. For employees, these benefits increase the value of their job.
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