Asked by: Yeney Jumillas
asked in category: General Last Updated: 22nd February, 2020

What are fringe costs?

Fringe benefits (FB) are employee associated costs such as health plan expenses, pension plan expenses and workman's compensation expenses, among others. These costs are expressed as a rate by employee class. The rate is the pooled costs of these benefits divided by the total salaries in each employee class.

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Herein, what is a fringe expense?

Fringe benefits for employees can take the form of property, services, cash, or some cash equivalent (something that can be turned into cash, such as a gift card or savings bonds). Generally speaking, fringe benefits are taxable to the employee and must be included as supplemental income on the employee's W-2 form.

Furthermore, what are examples of fringe benefits? Fringe benefits are forms of compensation you provide to employees outside of a stated wage or salary. Common examples of fringe benefits include medical and dental insurance, use of a company car, housing allowance, educational assistance, vacation pay, sick pay, meals and employee discounts.

Also Know, what is fringe on my paycheck?

Fringe benefits are an "add-on" form of employee compensation that employees can offer career professionals in addition to just a wage or salary. Typical forms of fringe benefits include: Medical and dental insurance. Year-end and performance bonuses.

What are labor fringes?

Fringe benefits are costs related to employing your labor force. Examples include: Vacation. Other paid leave labor costs (such as jury duty, family leave) Employer payroll taxes (FICA taxes, state unemployment taxes)

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