Dear Sandeep,
.....was just following the string to pop in.. Your query is answered thus..:
Medical Reimbursement vs Mediclaim :
Reimbursement provided to employees to defray medical expenses incurred by them for hospitalization and domiciliary treatment for self and family (as per Company policy). Bills are to be produced by the employee to claim the money in cash/cheque/deposit is salary account subject to prescribed ceiling. Claim above Rs 1250/- (i.e. 15,000/- per annum) becomes taxable under Income Tax law. Paid each month by most Companies. Some expenses like cosmetic treatment/surgery, fancy implants, braces, etc. may be excluded as per policy.
Mediclaim :
Medical insurance cover to employees. Company can provide Group Insurance or each employee can take his own. More coverage means more premium payout. Coverage can be family or just the employee himself/herself at his choice/Company policy. Group Insurance taken by Company provides better coverage with lesser premium and is better for an employee/his family. Many chronic illnesses/hereditary ailments may not be covered by the policy. Mostly covers hospitalization that domiciliary treatments.
Companies can have both for different levels of employees or one of the above for all/part of employees.
Ex-Gratia vs Bonus
Ex-gratia is a payment used mostly as a filler for a purpose, sometimes even to match a CTC expectation. It is mostly a lumpsum payment at the end of the year to compensate for a committed emolument or to support a committed reward mechanism. This is taxable at the hands of the employee.
Bonus can be of many types: performance bonus, attendance/retention bonus, profit-bonus, target-bonus, contract-bonus, etc. or statutory bonus. Statutory bonus (ranging between 8.33% - 20%) is payable by law (as per Payment of Bonus Act, 1965) either upon the Company having completed 5 years of operations or achieving profits (based on allocable/available surplus and year-on set-on/set-off as per the Act). Other bonuses are as decided by the management and as per policy in the Company.
Hope this gives some basic clarifications.
Regards,
Rahul Kumar