What is Allowance

Employee welfare is a prerequisite element for the success and growth of any form of organisation. The provision of welfare facilities improves the relations among the employees and the management of an organisation. These provisions boost the competence levels and value of the employees. The balance between employees'quality of life at the workplace and home is vital, as employees are the pillars of any organisation. The central aim of any organisation in adopting the welfare schemes is to secure the workforce by providing a proper work environment and minimising its hazardous effect on the employees' work life. The basic purpose of employee welfare is to enrich the lives of employees and to keep them happy and conducted. The provision of employees' welfare may be regarded as a wise investment as these would bring a profitable return in the form of greater efficiency. The chapter focuses on determining the various employee welfare provisions adopted by different private organisations and its influence on the employee's satisfaction and effectiveness.