Configure Bonus in salary

[Rahul Menon]

#19476

Hi team,

Can you explain how to configure bonus in Lenvica HRMS?

Regards,
Rahul

[muneer]

#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]

#20249

How can I add advance details of an employee?

[muneer]

#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

[Author]

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