Offering a variety of fringe benefits can help recruit and retain employees. Employee fringe benefits can entice candidates to accept a job at your company and help supplement your current employees’ income.
What are Fringe Benefits?
A fringe benefit is a form of payment for performance of services outside an employee’s regular pay. For example, a fringe benefit can include the use of an employee vehicle or employee discounts. Some fringe benefits are required by law, like social security and health insurance, and others are voluntary perks provided by employers.
The IRS describes what constitutes a fringe benefit in Publication