Welfare Plans are corporate initiatives allowing employees to be remunerated by means of works or services (mainly in non-monetary nature) pursuing social welfare purposes, with a salary addition to the monetary component already agreed in the employment contract.
They can be implemented by all Companies which are likely to apply an incentive remuneration policy to their employees, ensuring an appropriate tax planning and benefiting from substantial contributions and tax deductions on the supplied services.
From an operational point of view, the implementation phases of a Welfare Plan are as follows:
- preliminary screening
- analysis of the business reality
- definition and implementation of the Plan
- management of the Plan