Meaning of the word "fringe benefit" in English

What does "fringe benefit" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

fringe benefit

US /ˈfrɪndʒ ˈbɛn.ɪ.fɪt/
UK /ˈfrɪndʒ ˈbɛn.ɪ.fɪt/

Noun

an extra benefit supplementing an employee's salary, for example, a company car, private health care, or free meals.

Example:
The company offers a generous package of fringe benefits, including health insurance and a retirement plan.
A company car is a common fringe benefit for sales executives.