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Employee Benefits in India

  • March 2015
  • -
  • Timetric
  • -
  • 47 pages

Summary

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Synopsis
The report provides in-depth industry analysis, information and insights of the employee benefits in India, including: overview of the state and compulsory benefits in India, detailed information about the private benefits in India, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in India.

Summary
The Indian social security system only covers employees in the organized sector, which accounts for less than 10% of the country’s workforce. As the unorganized sector is continuously growing – and with every one in five workers in the informal sector living below the poverty line – the Government of India has launched several social security measures related to healthcare, pension and direct cash transfer schemes to people who do not have access to any formal scheme.

Scope
This report provides a detailed analysis of employee benefits in India:

- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits

- It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, short-term sickness benefits, medical benefits, workmen compensation, expariate employment, maternity benefits, unemployment benefits and private benefits

- It highlights the economic and regulatory situations relating to employee benefits in India

Reasons To Buy
- Make strategic decisions using in-depth information related to employee benefits in India

- Assess the India's employee benefits market, including state and compulsory benefits and private benefits

- Gain insights into the key employee benefit schemes offered by private employers in India

- Gain insights into key organizations governing India employee benefits, and their impact on companies

Key Highlights
- The Ministry of Labor & Employment aims to protect the interests of workers, and provide social security to employees in both the organized and unorganized sectors.

- Agriculture accounts for the highest number of informal workers, accounting for a staggering 99% of employment in the country, followed by construction, land transport, retail trade and textiles.

- Due to globalization and increased competition, employee benefits in India are changing, and companies are introducing new benefit packages to compete with employers. Employees are considering benefits as main factors for job satisfaction, while companies are using them to attract and retain employees.

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