As an Amazon Associate I earn from qualifying purchases.

Non Contributory Plan Definition and Explanation PDF Download

Learn Non Contributory Plan definition in hrm with explanation to study “What is Non-Contributory Plan”. Study non contributory plan explanation with HRM terms to review HRM course for online MBA programs.

Non Contributory Plan Definition:

  • Pension plan in which all the funds for pension benefits are provided by the employer.

    Human Resource Management by Robert L. Mathis, John H. Jackson



Non Contributory Plan Explanation:

A noncontributory plan is any annuity plan or other kind of advantage plan that is paid for altogether by the business. Members in the arrangement are not required to make any installments. Managers as often as possible set up disaster protection noncontributory plans for their workers, however the aggregate sum of inclusion will in general be low. Noncontributory plans are most advantageous for low-pay representatives, who may not generally have the option to bear the cost of the related advantages.

Keep Learning HRM Explanations

What is Job Enlargement?

Job Enlargement, an occupation structure method in which the quantity of errands related with an occupation is expanded (and suitable ...

What is Strategy?

Strategy is a state intend to accomplish at least one objectives under states of vulnerability. In the feeling of the ...

What is Market Pricing?

The market cost is the present cost at which a benefit or administration can be purchased or sold. The monetary ...

What is Security Audit?

A security review is a methodical assessment of the security of an organization's data framework by estimating how well it ...

What is Wrongful Discharge?

In law, illegitimate expulsion, likewise called unfair end or wrongful discharge, is a circumstance wherein a representative's agreement of work ...

What is Selection?

The selection procedure can be characterized as the procedure of determination and shortlisting of the correct up-and-comers with the essential ...