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Legally Required Benefits

What are the legally required benefits, and why are they required by law? Also discuss when (and if) they may be waived.

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Legally required benefits provide workers and their families with retirement income and medical care; mitigate economic hardship resulting from loss of work and disability, and cover liabilities resulting from workplace injuries and illnesses. The focus here is on the employer's portion of the cost of these benefits. Employers are obligated to pay their part of these benefits. These benefits are generally affected by federal and state laws, and as such may not be waived. The provision of the law may slightly vary according to the country in question; however, in most ...

Solution Summary

Legally required benefits and why they are required by law.