The term 'Kind of Benefit' can be summarized as a type of compensation or reward that is given to employees in addition to their regular salary. The most common type of benefit is known as a 'FRINGE benefit, ' which is an extra form of payment given to employees for services rendered. FRINGE benefits can include health insurance, vacation time, retirement plans, and other forms of compensation. These benefits are typically provided by employers to attract and retain quality employees.