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Employee Welfare in IT Sector

Employee welfare in the IT industry can include benefits beyond wages to improve employees' comfort, intellect, and social lives. Common benefits provided include housing allowances or company-provided housing, furniture, laptops, company cars for senior management, housing or vehicle loans, retirement plans, relocation assistance, gym memberships, credit cards, phones, gratuity, and insurance. The Information Technology Act of 2000 provides a legal framework for electronic commerce and transactions, and establishes terms of service including pension and retirement benefits for officers of the Cyber Appellate Tribunal.

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Shruthi M Das
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324 views10 pages

Employee Welfare in IT Sector

Employee welfare in the IT industry can include benefits beyond wages to improve employees' comfort, intellect, and social lives. Common benefits provided include housing allowances or company-provided housing, furniture, laptops, company cars for senior management, housing or vehicle loans, retirement plans, relocation assistance, gym memberships, credit cards, phones, gratuity, and insurance. The Information Technology Act of 2000 provides a legal framework for electronic commerce and transactions, and establishes terms of service including pension and retirement benefits for officers of the Cyber Appellate Tribunal.

Uploaded by

Shruthi M Das
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
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Employee Welfare In IT Industries

Introduction
According to Todd, Employee Welfare means anything done for the comfort & improvement, intellectual or social, of the employees over & above the wages paid which is not a necessity of the Industry.

Unique Features of E-Organization


There are no generally accepted rules. Victory goes to the quick. Location doesnt matter . Integrated information is everything. Increase employee isolation, social isolation while helps in building a community.

Benefits
Housing: Provision of House Rent Allowance is the most common across all levels.
Hard Furnishing: Mostly Provided to middle Management level and above. The revision of income tax rule for this benefit has resulted in reduced in tax shelter.

Business Appliances: 20% of the organizations provide this benefit. These organizations extend this benefit in the form of laptop/computers. Company Car: Typically provided to the senior management employees. Housing loan: Organizations either provide the loan internally or tie up with financial institutions to provide the loan amount to employees. Vehicle Loan: Some organizations have the policy of providing other loans or personal loans which can be used for purchasing a vehicle.

Superannuation: Long term retirement benefit which 33% of the organizations in the IT industry provide.

Domestic Relocation: Benefits like travel fare, initial boarding and lodging experiences which are borne by the organizations for the employee and his/her family, along with assistance in moving goods.

Information Technology Act, 2000


The Act aims at providing legal recognition for transactions carried out by means of electronic data interchange and other means of electronic communications commonly referred to as "electronic commerce" which involve the use of alternative to paper based methods of communication and storage of information and aims at facilitating electronic filing of documents with the government agencies.

According to Information Technology Act, 2000 : The salary and allowances payable to, and the other terms and conditions of service including pension, gratuity and other retirement benefits of the Presiding Officer of a Cyber Appellate Tribunal shall be such as may be prescribed.
The salaries, allowances and other conditions of service of the officers and employees or the Cyber Appellate Tribunal shall be such as may be prescribed by the Central Government.

A few other includes: Gym & Social Membership. Credit Cards. Telephone. Gratuity. Personal Accident Insurance.

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