ENTREPRENEURIAL OPERATIONS
HUMAN RESOURCE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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piecework
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incentive
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commission
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bonus
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Detailed explanation-1: -Bonus: As per the Payment of Bonus Act, 1965, the employer must provide a minimum amount of 8.33% of the basic salary to the employee as a bonus. Any establishment with more than 20 employees is liable to pay a bonus to their employees.
Detailed explanation-2: -A bonus is a payment made in addition to the employee’s regular earnings. Under the FLSA, all compensation for hours worked, services rendered, or performance is included in the regular rate of pay.
Detailed explanation-3: -What Is Base Salary Plus Bonus? When a salesperson earns a base salary plus bonus, it means they’ve accepted a guaranteed salary along with the potential to earn an additional predetermined amount by reaching goals laid out by their executives.