Employee Benefits in India

Published: Jun, 2014 | Pages: 45 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The report provides in-depth industry analysis, information and insights into employee benefits in India, including:
An overview of state and compulsory benefits in India
Detailed information about private benefits in India
Insights into the various central institutions responsible for the administration of the different branches of social security 
The regulatory framework and recent regulations relating to Indian employee benefits 

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 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 a 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 benefits, long-term disability benefits, short-term sickness benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, and private benefits
It highlights the economic and regulatory situations relating to employee benefits in India 
Reason To Buy
 Make strategic decisions using in-depth information related to Indian employee benefits
Assess the Indian 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 regulations governing Indian employee benefits, and their impact on companies 
Key Highlights
 The Indian social security system only covers employees in the organized sector, which account for less than 10% of the country's workforce
As the unorganized sector is continuously growing, the Government of India has launched several social security measures to those who do not have access to a formal scheme
Employees' Provident Fund (EPF), Gratuity and Employee Pension Scheme (EPS) are some of the main state and compulsory benefits in force in India
Private employee benefits in India are changing and companies are introducing new benefit packages to remain competitive

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
3 Country Statistics
4 Overview of Employee Benefits in India
5 Regulations
6 State and Compulsory Benefits
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Types of retirement plans
6.1.3 Eligibility
6.1.4 Age
6.1.5 Pensioble salary
6.1.6 Benefits
6.1.7 Payment options
6.1.8 Typical employer practice
6.1.9 Employee and employer contribution
6.1.10 Taxation
6.2 Death in Service
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment options
6.2.5 Typical employer practice
6.2.6 Employee and employer contribution
6.2.7 Taxation
6.3 Long-term Disability Benefits
6.3.1 Introduction
6.3.2 Eligibility
6.3.3 Benefits
6.3.4 Payment Options
6.3.5 Typical employer practice
6.3.6 Employee and employer contribution
6.3.7 Taxation
6.4 Short-term Sickness Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Payment options
6.4.5 Employee and employer contribution
6.4.6 Taxation
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment options
6.5.5 Typical employer practice
6.5.6 Employee and employer contribution
6.5.7 Taxation
6.6 Workmen Compensation
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Employee and employer contribution
6.6.5 Taxation
6.7 Expatriate Employment
6.8 Maternity Benefit
6.8.1 Introduction
6.8.2 Eligibility:
6.8.3 Benefits:
6.8.4 Taxation:
7 Private Benefits
7.1 Retirement Benefits
7.2 Death Benefits
7.3 Disability Benefits
7.4 Medical Benefits
7.5 Other private benefits:
8 Macroeconomic Indicators
8.1 Economic Performance
8.1.1 GDP at constant prices (US dollars)
8.1.2 GDP per capita at constant prices (US dollars)
8.1.3 GDP at current prices (US dollars)
8.1.4 GDP per capita at current prices (US dollars)
8.1.5 GDP split by key sectors
8.1.6 Inflation rate
8.1.7 Annual average exchange rate US$-INR
8.1.8 Labor force
8.1.9 Unemployment rate
8.1.10 Total population
8.1.11 Urban and rural populations
9 Appendix
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric's Services
9.5 Disclaimer


List of Tables
Table 1: Definitions
Table 2: India - Country Statistics
Table 3: Indian Retirement Benefits - Chronological Order of the Change of Wage Ceiling for EPF
Table 4: Indian Retirement Benefits - Contribution Rates (% of Wages) to Benefit Schemes
Table 5: Indian Death in Service Benefits - Qualifying Service and Death Gratuity Rates
Table 6: Medical Benefits in India - ESI Scheme Summary
Table 7: Indian Employee Compensation Benefits