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