flexible benefit plans: a. are offered to employees who then must purchase each benefit they select b. are favored by employers because of the number of different types available to employees c. are favored by employers because they reduce administrative costs d. allow employees to choose benefits suited to their needs

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16-11-2022
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flexible benefit plans: a. are offered to employees who then must purchase each benefit they select b. are favored by employers because of the number of different types available to employees c. are favored by employers because they reduce administrative costs d. allow employees to choose benefits suited to their needs

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ranjithgowdavt ranjithgowdavt · Answer 1 · 2022-11-30T08:53:47+01:00

Flexible benefit plans allow employees to choose the benefits they want or need from a package of programs offered by an employer. The correct option is d.

What are flexible benefit plans?

A flexible benefits plan or FBP is part of an employee’s salary. It gives the employee's more control over which CTC components they want to opt in for and how much under each component.

Companies these days are mindful of the efforts and expenses incurred by employees with a growing focus on employee experience. Therefore they use flexible benefits for personalizing the salary structure and maintaining an employee-friendly salary.

This plan helps employees reduce their tax liabilities significantly.

Learn more about flexible, here:

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