What is a bonus?
Bonus is the extra payment, or financial component received as a reward for doing one’s job well. The bonus usually comes along with the salary of the employee. It is a gesture of appreciation from the organization toward their employees.
What are the types of bonus components?
The various types of bonuses which can be paid to an employee are:
1. Performance Bonus
2. Festival Bonus
3. Referral Bonus
4. Joining Bonus
5. Retention Bonus