Bonus
Payroll → Bonus
Bonus refers to a financial reward or incentive given to employees in addition to their regular salary. It is typically based on performance, achievements, or other criteria set by the organization. The system allows various configurations for bonuses, such as Allowance-Restricted Bonus or Bonus Type, to cater to different organizational policies.
Allowance-Restricted Bonus
In the Allowance Type module (Payroll → Allowances → Allowance Types), any allowance configured with the mode set as Bonus will be displayed in the Bonus module when the Allowance-Restricted Bonus option is enabled.
It is calculated based on certain allowances in an employee’s salary, rather than being a fixed amount or percentage of the total salary. This ensures that the bonus is directly tied to specific pay components, which may vary from employee to employee based on their role, position, or contractual terms.
While it is restricted to allowances, the Allowance-Restricted Bonus can still be tied to performance or specific criteria like sales targets or company performance, ensuring the bonus rewards employees based on measurable achievements.
Fig: Allowance Restricted Bonus
Related Articles
Bonus Type
Payroll → Bonus → Bonus Type In addition to the Allowance-Restricted Bonus, users can create a Bonus Type within the Bonus module and release the bonus for a specific month to the employees Example Referral Bonuses: Paid for successful employee ...Bonus Components
Bonus is a salary component that forms part of the employee’s Cost to Company (CTC). It is included in the overall CTC structure but may be paid annually, half-yearly, or at specific intervals as defined by organizational policy or statutory norms. ...Salary Components
A salary comprises several different earning, reimbursement and Bonus components. Settings → Payroll → Salary ComponentsDepartment Hierarchy
It defines the structured organization of departments within a company, ensuring clear reporting relationships, workflow efficiency, and proper role assignments. It establishes the levels of management and operational units within the organization. ...Docusign Configuration
Navigate to Compliance Management → Docusign → Configuration Click on the Configuration tab and then with the +Add New button. A pop-up window will appear where you can: Enter your offer letter content in the editor. On the right-hand side, you will ...