Employee Benefits

While virtually every business has to offer some type of monetary compensation to employees, you're mostly free to choose whether to provide other benefits for your employees. The different types of benefits include:

Mandatory time off. You may be required to allow time off for voting, jury duty, military service, family leave, pregnancy and parental leave, and to appear as a witness in a court proceeding.
Mandatory benefits other than time off. You may be required to provide workers’ compensation, pay employment taxes, participate in a state disability program, or make health benefits available for your employees.
Optional benefits. You may choose to provide holiday leave, vacations, sick leave, personal time off, insurance and retirement plans for your employees.