swati-123
Hi All,
Greetings of the day!
I have to design the salary structure of Employees and have to add following variables;
1) Loyalty Bonus
2) Festival Bonus e.g. Diwali Bonus
3) Performance Bonus
I want to know specifically how much percent contributes of the Basic salary to the Loyalty Bonus, Festival Bonus, Performance Bonus.
Kindly assist me in designing the salary structure with mentioned above variables.

From India, Delhi
ravi5554
427

Hi,
There is no rules and percentage to assign that components but before to design which components you have mentioned all are fully taxable components.
As per bonus act- Minimum 8% and Maximum 20% can provide.

From India, Mumbai
ravi5554
427

Hi,
Yes,
For bonus calculation purposes you may go through section 2(21) of the Payment of Bonus act, 1965 for salary or Wage definition. When there is no DA then bonus is to be calculated on Basic salary only.

From India, Mumbai
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