How To Devide The Total Amount In To Bonus & Incentives

Dear all,
We want to give some specific amount to emplyees depends upon turnover. but we want to devide it in to incentive & bonus. how i can apply? plz reply

all are requested to help me in work out the incentive scheme in advertising agency, also request if you have any ready templet please send me

Hi,
Based on the performance, allocate the incentive amount to each employee.
From the total amount, split the amount into Bonus (SB Bonus) and remaining portion will be paid under the heading of Performance incentive.
Guidelines:

• Decide whether it is calendar period or financial year. (Note : S.Bonus will always calculated from April to March)
• Calculate the annual ctc
• Derive the rating/Grade for all the employees
• Base on the rating/Grade, category -wise decide the percentage of incentive from annual ctc or annual gross pay
• Calculate the total amount
• Pay under two different headings like incentive & Bonus.

Thanks & Regards
D Jayashri

Dear Sanika Kulkarni,
Bonus is a statutory payment. Also it is considered as defered wages. It is to be paid as per law. Don't club bonus with other payments.
Regarding Incentive payment you may arrive an independant agreement/policy with the employees.
Abbas.P.S