Hello Friends , I would like to understand US compensation and benefits ( general ) provided to employee ? How 401 (K ) plan work etc.

@Smita Narkar Many aspects of compensation are determined at the state level in the U.S, while Some federal standards apply to the country as a whole. like Fair labour standard act etc. which is nothing but on the lines of minimum wages act like how we have in India. The minimum wage i guess is at 7 to 8 $ per hour, as per the Federal Standard, will also depend on the trade or profession the individual is in. In many states the minimum wages can be higher than the stipulated Federal rates. Apart from wages one also has to provide the below 1. PTO vacation & sick days again which can differ state wise. 2. Medical, dental, and vision insurance plans 3. Retirement benefit plans which is your 410 K on 410 K in Short it is a company sponsored retirement benefit where employees contribute to it and employers can match it or even lesser. there are different types of 401 K plans. The below link should help you in understand it further. https://www.ameriprise.com/financial-goals-priorities/retirement/what-is-a-401k Understanding Compensation & Benefits in the US https://www.usemultiplier.com/united-states/employee-benefits-and-compensation