Allowances and Bonuses

What are the types of Allowances?
Allowance is defined as a fixed amount of money paid by employers to their employees to meet certain expenditures above basic salary. For example, organiza...
Tue, 24 May, 2022 at 9:11 PM
What is a Wage bonus?
A bonus is a financial compensation that is above and beyond the normal payment expectations of its recipient. Bonuses may be awarded by a company as an ...
Tue, 24 May, 2022 at 7:40 PM
What is Dearness Allowance?
To neutralize the impact of inflation, an allowance is given to the public sector and government employees and pensioners called a dearness allowance. De...
Tue, 24 May, 2022 at 8:31 PM
What is House Rent Allowance (HRA)?
What is HRA? House rent allowance is the allowance that is provided by the company to the employee for the purpose of accommodation. This allowance i...
Tue, 24 May, 2022 at 7:26 PM
What is a Meal allowance?
Meal allowance can be provided by the employer through the provision of meals during office working hours or through pre-paid food cards or digital coupo...
Tue, 24 May, 2022 at 7:25 PM
What is Medical Allowance?
Medical allowance is a fixed allowance paid to the employees of a company every month irrespective of whether they submit the bills to substantiate the e...
Tue, 24 May, 2022 at 7:27 PM
What is Special Allowance?
According to section 14(i), allowances that are paid to the employee for the performance of duty are called as special allowances. Examples of such allowanc...
Tue, 24 May, 2022 at 7:28 PM
What is Travel Allowance?
Travel allowance covers costs related to travel while on tour or on transfer while on duty. This allowance also includes travel costs incurred while getting...
Tue, 24 May, 2022 at 7:29 PM
What is Custom Allowance?
If any other allowance is to be added other than the provided allowances, that allowance will come under custom allowances. Where it can be added in Salary...
Tue, 24 May, 2022 at 8:50 PM
What is a Specific Allowance?
If any allowance is to be added for a specific date at any point of time, that can be added under Specific Allowance. Where it can be added in SalaryBox ap...
Tue, 24 May, 2022 at 8:50 PM