WORKERS INSURANCE
The required benefits are non-cash compensation that an employee receives from his/her employer. The benefits in the form of those required by law include;
- WORKERS COMPENSATION INSURANCE
The employers must conduct this insurance which provides medical and financial benefits to the employees injured while working.
- UNEMPLOYMENT INSURANCE
It provides compensation to employees who lose their job for no fault of their own.
- CONSOLIDATED OMNIBUSBUDGET ACT
COBRA Benefits are needed for employers with 20 or more workers who are subject to the Consolidated Omnibus Budget Reconciliation Act (COBRA).
COBRA enables the employee to maintain their protection coverage at the employer’s group rates for a duration of up to 18 months.
- FAMILY AND MEDICAL LEAVE ACT (FMLA)
Family and Medical Leave Act (FMLA) require is for the employer to provide 12 weeks of unpaid time off to employees for 12 months. It protects the employee from losing their job to care for themselves or an immediate family member, including the birth of a child, placement for adoption or foster care of a child.
- SOCIAL SECURITY TAX
They are required to be paid on workers. It is the tax levied on both employers and employees to fund the Social Security program. The Social Security tax pays for retirement, disability, and survivorship benefits.