COMPARATIVE STUDY OF BENEFIT PLANS FOR EMPLOYEES IN INDIA AND THE UNITED STATES OF AMERICA

AUTHORS – REWA SHARMA* & JASH SHAH**, STUDENTS AT O.P. JINDAL GLOBAL UNIVERSITY

* sharmarewa257@gmail.com & LinkedIn Profile – https://www.linkedin.com/in/rewa-sharma-b463062b8

**jashshah2512@gmail.com & LinkedIn Profile – http://www.linkedin.com/in/jashshah2512

BEST CITATION – REWA SHARMA & JASH SHAH, COMPARATIVE STUDY OF BENEFIT PLANS FOR EMPLOYEES IN INDIA AND THE UNITED STATES OF AMERICA, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (1) OF 2025, PG. 249-260, APIS – 3920 – 0001 & ISSN – 2583-2344.

What are Employee Benefits?

Employee benefits are employee compensation packages that include extras such as health insurance, retirement saving plans, paid vacation to list some out of the many. The primary purpose of employee benefits is to hire and retain top talent and increase the productivity and efficiency of working which is in turn beneficial to the company. Employee benefit plans are an integral part of the overall compensation package as a lot of studies and surveys have concluded that employees who feel valued at their place of work turn out to be more productive and motivated to work and also, benefit plans are one of the most important factor that employees take into consideration when they have to decide whether or not to stay with the current employer. For example, a recent survey conducted by the Society for Human Resource Management found that 90% of the people surveyed feel that healthcare benefits are an extremely crucial employee benefit and 83% said that flexible work time is very important.^[1] A study by the International Foundation of Employee Benefit Plans concluded that companies with high level of productivity and engagement offer benefits such as paid vacation, healthcare benefits, flexible time, etc. to the employees.

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[1] Forbes Advisor, Employee Benefits In 2024: The Ultimate Guide, https://www.forbes.com/advisor/business/employee-benefits/#what_are_employee_benefits_section.