What do you understand by the term allowances?

QuestionsWhat do you understand by the term allowances?
Nikhil Rawat asked 1 month ago
   
3 Answers
Priya Vishwas answered 1 month ago
Allowances are additional funds given to employees as a form of remuneration. They can be for personal or professional development, or for specific projects.  
Akshaj Singh answered 1 month ago
In order to stay competitive, many companies are starting to offer allowances in compensation. This means the employee is entitled to a certain amount of money so they don't have to worry about how much that it costs them.  
Deepak Goyal answered 1 month ago
Allowances are money that employees receive for a job they complete. Some employees might be paid according to how many hours they work, while others might be paid an hourly rate. This also includes any bonuses or other monetary benefits that an employee receives while working.