Non-cash perks provided to employees beyond salary, such as a company car or private health cover.
Fringe benefits (also called perks or non-cash benefits) are additional rewards provided to employees that go beyond their regular salary. Examples include company car, private health insurance, gym membership, mobile phone, laptop, childcare vouchers, and subsidized meals. In many countries, fringe benefits are subject to tax — for example, UK employees pay income tax on Benefits in Kind (BIK). Payroll software manages benefit valuations, reports P11D forms, and calculates the correct tax treatment for each benefit.
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