Everything You Need to Know About Prevailing Wage Fringe Benefits
Prevailing benefits are considered to be existing in two distinct parts which are basic rates and fringe benefits. When it comes to the basic rates, these are the hourly wages that must be paid to an employee by an employer. Fringe benefits on the other hand might include the combination of health care, pension, vacation, training provided to the employee by the employer, and many others but it is not the same as the basic rate which many people might confuse. The prevailing wage benefits are usually based on the wages which are paid to the workers who are working on a similar project in the area and it will be determined by the US Labor Department. Wondering what the fringe benefits are? Here is a spotlight about the fringe benefits for you to know.
If you are subjected to the prevailing wage fringe benefits, it is good to understand that the employer will be able to pay you directly the benefits and not through any other indirect means. You will be subjected to cash payment which is equivalent to the fringe benefits which you are entitled to. As an employee and you are not paid the fringe benefits, you have the right to claim for the non-proper payment of your prevailing wage fringe benefits of which eventually you will have to be paid. Each job classification has the fringe benefits amount set and hence, before starting any new job, it is good for you to understand what you are expecting as the prevailing wage fringe benefits so that you don’t complain later.
Fringe benefits fraud is also there in the event that an employer tells the employees that they are entitled to the wages and also receiving them funds but in reality, no employee is benefiting from the prevailing wage fringe benefits. This means that you are not funded for any vacation, health care, pension funds, and many others and if this is happening to you, know very well that you are a victim of fringe benefit fraud. There is a prevailing wage law that the employer is violating during this time and also can happen if the employer is not compensating you for all the prevailing wage fringe benefits which you are entitled to. Make sure therefore you know and protect your wages as a worker.
Fringe benefits are very common with the first applicable example being insurance coverage. As an employee, you have insurance coverage and for sure, the employer will try as much as possible to share the premium cost with you. Education assistance is also another relevant example of fringe benefits as an employee. You might be given a flexible schedule so that you will be able to balance between the work and also educational requirements. Fitness assistance, meals and cafeterias plans, dependent assistance, retirement plans contributions, and many others are among the common prevailing wage fringe benefits which you as the employee are entitled to and you need to make sure that you are paid.