Bonus in corporate company
This query is : Resolved
16 December 2013
Dear Sir,
I need required Bonus strategy in corporate business.
Thanks
16 December 2013
BONUS MINIMUM PAYABLE TOTAL PAID SALARY * 8.33% FOR 12 MONTHS
i.e :- 1000 RS. PER MONTH YOU ARE PAYING AS SALARY
1000*12*8.33/100 = 999.6 payable as bonus
i.e :- 1000 RS. PER MONTH YOU ARE PAYING AS SALARY
1000*12*8.33/100 = 999.6 payable as bonus
16 December 2013
Dear Ashwin,
The strategy would vary on the basis of goals the corporate wishes to achieve:
You need to answer questions like:
1. Is it a retention strategy?
2. what should be the appropriate slabs of bonus for differential performances.
3. Is it targeted at the best performing or the average performances? means are you trying to retain the average employee or the best performing ones? Is cash bonus the only incentive for retention etc?
There can be many such questions.
Regardless there are few basics of any bonus strategy:
1. Stick to cash in hand - ie give the bonus in cash form only
2. landmarks should be clearly defined
3. payment should be in time. Don't delay
4. Avoid punishment: as much as possible avoid inbuilt penalties for non-achievement.
The strategy would vary on the basis of goals the corporate wishes to achieve:
You need to answer questions like:
1. Is it a retention strategy?
2. what should be the appropriate slabs of bonus for differential performances.
3. Is it targeted at the best performing or the average performances? means are you trying to retain the average employee or the best performing ones? Is cash bonus the only incentive for retention etc?
There can be many such questions.
Regardless there are few basics of any bonus strategy:
1. Stick to cash in hand - ie give the bonus in cash form only
2. landmarks should be clearly defined
3. payment should be in time. Don't delay
4. Avoid punishment: as much as possible avoid inbuilt penalties for non-achievement.
16 December 2013
you can refer this link: https://www.ashworthblack.co.uk/bonusschemes.htm
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- TDS related Query_Liquidated Damages
- Soyabean hsn code and gst rate
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Long Term Service award taxability in hands of company
- Last year TDS Claim
- LTCG for Assmt year 26-27
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
