Question

Big Bank waives the home loan application fee for all university employees as it considers university employees “low risk’. There is no arrangement between Big Bank and university, rather, this is unilateral action by Big Bank. True or false: The waiver of loan application fees is a fringe benefit to the university employees.

Select one:

True

False

Answer 1

Fringe benefit is a form of non wages /salaries compensation that are provided by employer to the employees for facilate and encourage the working.It could be for employment security and health protection.

It is an Unilateral Contract between employee and employer.

Explanations of given questions.

Because Fringe benefits is unileteral contact between employer and employee. In given question there is no involvement of university (employer). The waiving of home application fee for university employees is big bank's own policy for it's customers(University employees). There is no arrangement of big bank and the university.

Therefore ,

The fee waiving fee advantange taken by employees are not covered under "Fringe benefits".

given statement is false.