BUS 381 - week 9 Preparation Questions with
100% Correct Answers
what are employee benefits?
- indirect financial compensation provided in addition to wages, such as insurance, pensions,
paid vacation, education assistance, fitness program, childcare, and Employee assistance
programs (EAPS)
why do employees offer benefits?
- attract employees
- retain employees
- reward loyalty
- improve productivity
- reduce absenteeism
- support employee health and wellness
- support the community
what are canada's legally required employee benefits?
- employee insurance (EI)
- canada/ quebec pension plan (CPP/ QPP)
- workers' compensation
- paid vacations and holidays
- leaves of absence
- termination pay
what is employment insurance (EI)?
, - a federal program providing temporary income to eligible employees who lose work through no
fault of their own
who qualifies for EI?
- laid off
- terminated without cause
- quit for a justifiable reason
- sick after exhausting sick leave
- compassionate care leave
maternity or parental leave
when are employees NOT eligible for EI?
- fired for just cause
- quit without a good reason
how much EI is paid?
- approximately 55% of average earnings for 15-50 workers
what is the canada pension plan (CPP)?
- a government retirement, disability, and survivor benefit program funded by employee and
employer contributions
when can CPP benefits begin?
- between ages 60-70
- benefits are reduced if taken before age 65
what is workers' compensation?
- insurance covering employees injured or made ill because of work
what are the key features of workers' compensation?
100% Correct Answers
what are employee benefits?
- indirect financial compensation provided in addition to wages, such as insurance, pensions,
paid vacation, education assistance, fitness program, childcare, and Employee assistance
programs (EAPS)
why do employees offer benefits?
- attract employees
- retain employees
- reward loyalty
- improve productivity
- reduce absenteeism
- support employee health and wellness
- support the community
what are canada's legally required employee benefits?
- employee insurance (EI)
- canada/ quebec pension plan (CPP/ QPP)
- workers' compensation
- paid vacations and holidays
- leaves of absence
- termination pay
what is employment insurance (EI)?
, - a federal program providing temporary income to eligible employees who lose work through no
fault of their own
who qualifies for EI?
- laid off
- terminated without cause
- quit for a justifiable reason
- sick after exhausting sick leave
- compassionate care leave
maternity or parental leave
when are employees NOT eligible for EI?
- fired for just cause
- quit without a good reason
how much EI is paid?
- approximately 55% of average earnings for 15-50 workers
what is the canada pension plan (CPP)?
- a government retirement, disability, and survivor benefit program funded by employee and
employer contributions
when can CPP benefits begin?
- between ages 60-70
- benefits are reduced if taken before age 65
what is workers' compensation?
- insurance covering employees injured or made ill because of work
what are the key features of workers' compensation?
