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Bonus & Incentives

1) Bonus Calculation​

Create a Bonus Policy​

Process:​

Go to Bonus Configuration

Entry Process:​

  • Apply filter options for bonus configuration.
  • Configure bonus policy based on desired rules.
  • Configure bonus eligibility based on joining date, percentage, and minimum bonus value.

Example:​

If a festival bonus rule is applied:

  • Employees with 1+ year of service receive 100% of Basic Salary.
  • Employees with less than 1 year of service receive 50% of Basic Salary.

Steps:​

  1. Go to Bonus Add Page.
  2. Enter Bonus Name: "Festival Bonus".
  3. Department, Designation, and Employment Type remain empty if not required.
  4. Select Calculation Base: "Basic Salary".
  5. Set Percentage: 100% for employees with 12+ months of service.
  6. For employees with less than 12 months, enter the range 1 - 12 months.
  7. Configure additional bonus policies similarly.

2) How to Process Bonus Payment​

Process:​

Go to Bonus Payment

Entry Process:​

  1. Navigate to Bonus Payment Page.
  2. Select Date Range for calculating the service period.
  3. Choose the Bonus Policy and click Next.
  4. The system will display eligible employees based on the selected policy.
  5. Select all eligible employees and proceed.
  6. Total bonus amount for selected employees will be shown.
  7. Click Next to generate a Payment Voucher.
  8. Approve the payment to finalize the process.

Steps for Approval:​

  • Step 1: Process bonus based on eligibility.
  • Step 2: Select employees applicable for the bonus.
  • Step 3: Approve or Reject pending bonus transactions.