What are the Voluntary Benefits?
Voluntary Benefits definition.
Voluntary benefits are a type of employee benefits that permit employers to offer a more substantial package of benefits to their employees without having to assume the cost of it since it is the employee who pays for it, while the employer covers the administration costs.
Voluntary benefits are employee benefits that the employee pays themselves, and not the employer, even though the employer does pay for the administration costs of the scheme. The cost of it is usually subtracted from the employee’s salary to simplify the process, yet it isn’t always.