Configure Bonus in salary

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- Rahul Menon
  Member
  
  October 31, 2016 at 03:39
  
  Post count: 27
  
  #19476
  
  Hi team,
  
  Can you explain how to configure bonus in Lenvica HRMS?
  
  Regards,
  Rahul
- muneer
  Member
  
  November 30, 2016 at 12:02
  
  Post count: 78
  
  #20248
  
  Bonus
  Interface to manage the Employee Bonus.
  
  1. Define the period and pay date for the bonus
  2. Define formula to calculate bonus
  
  Define a new bonus type:
  
  1. Go to Salary > Bonus
  2. Specify the details
  
  [tr]
  [td]Formula [/td][td] Formula to calculate the bonus amount [/td]
  [/tr]
  [tr]
  [td] Maximum Bonus[/td][td]Amount The maximum bonus amount that can be paid [/td]
  [/tr]
  [tr]
  [td] Round Type[/td][td]Rounding option for the bonus amount. Ex: Round to two digits, round to nearest, lower or higher integer etc[/td]
  [/tr]
  
  Bonus Name Name of the Bonus
  
  Bonus Period The period from and to for the bonus
  
  Pay Date Pay date for the bonus
  
  Add employees eligible for bonus:
  
  1. Go to Salary > Bonus
  2. Locate an bonus type
  3. Add employees to the bonus
  
  Recalculate the bonus:
  
  1. Go to Salary > Bonus
  2. Locate an bonus type
  3.Recalculate the bonus
  
  View the bonus details of each employee:
  
  1. Go to Salary > Bonus
  2. Locate an bonus type
  3. Locate an employee
  4. View the details
- Rahul Menon
  Member
  
  November 30, 2016 at 12:05
  
  Post count: 27
  
  #20249
  
  How can I add advance details of an employee?
- muneer
  Member
  
  November 30, 2016 at 12:14
  
  Post count: 78
  
  #20250
  
  Add advance details of an employee:
  
  1. Go to Salary > Advance
  2. Locate an employee
  3. Go to the tab 'Advance'
  4. Add advance details
  
  [tr]
  [td]Interest Amount[/td]
  [td] Calculate the interest using interest calculator[/td]
  [/tr]
  [tr]
  [td]Recovery Mode [/td]
  [td] Whether recovery mode is Lumpsum or installments[/td]
  [/tr]
  [tr]
  [td]Lumpsum[/td]
  [td] The total amount paid, including interest[/td]
  [/tr]
  [tr]
  [td]No of Installments[/td]
  [td] Specify the number of installments[/td]
  [/tr]
  [tr]
  [td]Recovery Cycle[/td]
  [td] Recovery period like monthly, yearly etc.[/td]
  [/tr]
  [tr]
  [td]Recover From[/td]
  [td] Specify the date on which the recovery should start[/td]
  [/tr]
  [tr]
  [td]Remarks[/td]
  [td] Remarks, if any[/td]
  [/tr]
  [tr]
  [td]Recover from Salary[/td]
  [td] Whether the amount recover from salary or not?[/td]
  [/tr]
  
  Advance Type Type of the advance
  
  Date Date on which the advance is given to employee
  
  Principal Amount The actual amount given
  
  Calculate the interest for an employee:
  
  1. Go to Salary > Advance
  2. Locate an employee
  3. Go to the tab 'Advance'
  4. Click on salary advance
  
  View the installment details of an employee:
  1. Go to Salary > Advance
  2. Locate an employee
  3. Go to the tab 'Installments'
  
  Update the recovery details of an employee:
  1. Go to Salary > Advance
  2. Locate an employee
  3. Go to the tab 'Recovery'
  4. Update the recovery details
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