Bonus during festival - few options as to disburse a fixed amount to all or to give a bonus on the basis of their gross CTC?

Hello Everyone, I am working in a startup company of Edtech. Recently, management decided to give bonuses to all employees during the Diwali festival. They have asked me to come up with few options as to disburse a fixed amount to all or to give a bonus on the basis of their gross CTC. Please suggest.
Note: This is the first bonus to the employees by management

Thank you in advance,
Regards