Hi all, I have to design the salary structure of employees and need to add the following variables:
1. Loyalty Bonus
2. Festival Bonus, e.g., Diwali Bonus
3. Performance Bonus
Salary Structure Design
I want to know specifically how much each bonus contributes as a percentage of the basic salary for the Loyalty Bonus, Festival Bonus, and Performance Bonus. Kindly assist me in designing the salary structure with the mentioned variables above.
Regards,
From India, Delhi
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1. Loyalty Bonus
2. Festival Bonus, e.g., Diwali Bonus
3. Performance Bonus
Salary Structure Design
I want to know specifically how much each bonus contributes as a percentage of the basic salary for the Loyalty Bonus, Festival Bonus, and Performance Bonus. Kindly assist me in designing the salary structure with the mentioned variables above.
Regards,
From India, Delhi
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Hi, there are no specific rules or percentages to assign to those components. However, before designing, it's important to note that all the components you mentioned are fully taxable. As per the Bonus Act, a minimum of 8% and a maximum of 20% can be provided.
Regards,
From India, Mumbai
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429Regards,
From India, Mumbai
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SALARY SHEET CALCULATION.xls
Salary calculation.doc