Bonus
Bonus
Issue one-time or recurring bonuses — statutory, performance, or ad-hoc — with approvals, tax computation, and payroll integration.
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
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