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<!DOCTYPE html><html lang="en" class="__variable_7f3cdd"><head><meta charSet="utf-8"/><link rel="preload" as="font" href="/_next/static/media/08f6869de032d726-s.p.woff2" crossorigin="" type="font/woff2"/><link rel="preload" as="font" href="/_next/static/media/562f9e66ce415c97-s.p.woff2" crossorigin="" type="font/woff2"/><link rel="preload" as="font" href="/_next/static/media/964da666ccb1de0d-s.p.woff2" crossorigin="" type="font/woff2"/><link rel="preload" as="font" href="/_next/static/media/e05068a1c6e286d3-s.p.woff2" crossorigin="" type="font/woff2"/><link rel="stylesheet" href="/_next/static/css/794df731aa7431ee.css" data-precedence="next"/><title>Calculation of Bonus on Salary for Employees- In 3 Easy Steps | Fibe</title><meta name="description" content="Curious about how to calculate bonuses on your salary? Discover a concise guide on employee bonus calculations and learn the formula with Fibe."/><meta name="viewport" content="width=device-width, initial-scale=1"/><meta name="robots" content="index, follow, max-video-preview:-1, max-image-preview:large, max-snippet:-1"/><meta name="facebook-domain-verification" content="x1jys55du9q7hw5ztn347vr7xluhyz"/><link rel="canonical" href="https://www.fibe.in/blogs/how-to-calculate-bonus-on-salary-and-why-it-is-important/"/><meta name="google-site-verification" content="qwvdfRxYy0linyRJVb3rflGBXPlSZSspxMpCEYIayEI"/><meta name="next-size-adjust"/><meta name="google-site-verification" content="qwvdfRxYy0linyRJVb3rflGBXPlSZSspxMpCEYIayEI"/><meta name="facebook-domain-verification" content="x1jys55du9q7hw5ztn347vr7xluhyz"/><script src="/_next/static/chunks/polyfills-c67a75d1b6f99dc8.js" noModule=""></script></head><body class="font-gilroy !bg-white min-h-screen select-none"><noscript><iframe title="google tag manager" 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top-0 right-0 bg-white lg:bg-transparent h-screen lg:h-auto lg:flex transform ease-in-out max-lg:transition-all duration-300 space-x-2 lg:space-x-6 [&>*]:ml-0 w-[320px] lg:w-full rounded-l-3xl translate-x-full lg:translate-x-0"><li class="flex flex-col lg:hidden"><a class="relative w-[52px] lg:w-[77px] h-[42px] lg:h-[60px] my-2 shrink-0" href="/"><img alt="Fibe Instant Personal Loan" fetchPriority="high" decoding="async" data-nimg="fill" class="mx-6 lg:m-0" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/fibe-india.svg"/></a></li><li class="absolute lg:hidden right-5 top-5 z-40"><button type="button" class=" lg:text-xl lg:w-auto border text-2xl m-1 p-2 border-0"><img alt="close" loading="lazy" width="13" height="14" decoding="async" data-nimg="1" style="color:transparent" src="/icons/close.svg"/></button></li><li class="flex flex-col lg:flex-row relative group/l1 p-3 lg:p-0 "><div class="flex mb:2 lg:mb-0 items-center"><a class="mr-1 group-[.active]/l1:text-primary font-semibold text-base lg:text-lg lg:py-4" href="#">Loans</a><svg xmlns="http://www.w3.org/2000/svg" width="12" height="6" fill="none" class="stroke-plain-grey mt-1 group-[.active]/l1:stroke-primary"><path d="m1 1 5 4 5-4"></path></svg></div><ul class="relative lg:absolute bg-white top-0 lg:top-full left:0 lg:-left-10 lg:transform lg:scale-0 group-hover/l1:lg:scale-100 transition-[max-height] lg:transition duration-300 lg:duration-150 ease-out lg:ease-in-out lg:origin-top lg:shadow-lg z-50 px-2 lg:py-2 lg:rounded-xl max-h-0 overflow-hidden group-hover/l1:max-h-[500px] group-hover/l1:lg:max-h-[auto] group-hover/l1:duration-400 group-hover/l1:lg:duration-150 group-hover/l1:ease-in group-hover/l1:lg:ease-in-out [&>li]:mb-1 [&>li:last-child]:mb-0 [&>li>a]:text-sm "><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey " href="/instant-cash-loan/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><rect width="4" height="12" x="20" y="4" stroke="#333" stroke-width="1.5" rx="2" transform="rotate(90 20 4)"></rect><rect width="4" height="12" x="20" y="12" stroke="#333" stroke-width="1.5" rx="2" transform="rotate(90 20 12)"></rect><rect width="4" height="12" x="16" y="8" stroke="#F8A63F" stroke-width="1.5" rx="2" transform="rotate(90 16 8)"></rect><rect width="4" height="12" x="17" y="16" stroke="#F8A63F" stroke-width="1.5" rx="2" transform="rotate(90 17 16)"></rect></svg></span> <span class="lg:font-medium">Instant Cash Loan</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Get quick cash loans of up to ₹5 lacs in 2 minutes</span></a></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey " href="https://personal-loan.fibe.in/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-linejoin="round" stroke-width="1.5" d="M5.632 11.103A6 6 0 0 1 11.325 7h1.35a6 6 0 0 1 5.692 4.103l1 3C20.663 17.988 17.771 22 13.675 22h-3.35c-4.096 0-6.988-4.012-5.693-7.897l1-3Z"></path><path stroke="#333" stroke-linejoin="round" stroke-width="1.5" d="M14.086 7H9.914L8.513 5.393c-1.373-1.575.229-3.93 2.234-3.283l.928.3c.211.067.439.067.65 0l.928-.3c2.005-.647 3.607 1.708 2.234 3.283L14.086 7Z"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-width="1.5" d="M9 17c2.254 1.315 3.578 1.345 6 0"></path></svg></span> <span class="lg:font-medium">Personal Loan</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Avail of a Personal Loan at 0 preclosure charges</span></a></li></ul></li><li class="flex flex-col lg:flex-row relative group/l1 p-3 lg:p-0 "><div class="flex mb:2 lg:mb-0 items-center"><a class="mr-1 group-[.active]/l1:text-primary font-semibold text-base lg:text-lg lg:py-4" href="#">Our Offerings</a><svg xmlns="http://www.w3.org/2000/svg" width="12" height="6" fill="none" class="stroke-plain-grey mt-1 group-[.active]/l1:stroke-primary"><path d="m1 1 5 4 5-4"></path></svg></div><ul class="relative lg:absolute bg-white top-0 lg:top-full left:0 lg:-left-[250px] lg:transform lg:scale-0 group-hover/l1:lg:scale-100 transition-[max-height] lg:transition duration-300 lg:duration-150 ease-out lg:ease-in-out lg:origin-top lg:shadow-lg z-50 px-2 lg:py-2 lg:rounded-xl max-h-0 overflow-hidden group-hover/l1:max-h-[500px] group-hover/l1:lg:max-h-[auto] group-hover/l1:duration-400 group-hover/l1:lg:duration-150 group-hover/l1:ease-in group-hover/l1:lg:ease-in-out lg:grid lg:grid-cols-2 lg:w-[640px] lg:divide-x [&>li]:mb-1 [&>li:last-child]:mb-0 [&>li>ul>li>a]:text-sm "><li class="lg:pr-2"><ul class="[&>li]:mb-1 [&>li:last-child]:mb-0"><li><p class="font-semibold text-base px-0 lg:px-3 py-1 lg:py-2 text-black">Newly Launched</p></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey " href="/loan-against-mutual-fund/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg width="24" height="25" viewBox="0 0 24 25" fill="none" xmlns="http://www.w3.org/2000/svg"><g clip-path="url(#clip0_17517_29912)"><path d="M19 2.87988H21C21.5523 2.87988 22 3.30969 22 3.83988V5.75988M21 3.83988C13.0585 9.97558 8.94211 11.6283 2 12.4799M18 10.5599V20.1599C18 21.2203 18.8954 22.0799 20 22.0799C21.1046 22.0799 22 21.2203 22 20.1599V10.5599C22 9.49949 21.1046 8.63988 20 8.63988C18.8954 8.63988 18 9.49949 18 10.5599ZM2 18.2399L2 20.1599C2 21.2203 2.89543 22.0799 4 22.0799C5.10457 22.0799 6 21.2203 6 20.1599L6 18.2399C6 17.1795 5.10457 16.3199 4 16.3199C2.89543 16.3199 2 17.1795 2 18.2399ZM9.99999 14.3999V20.1599C9.99999 21.2203 10.8954 22.0799 12 22.0799C13.1046 22.0799 14 21.2203 14 20.1599V14.3999C14 13.3395 13.1046 12.4799 12 12.4799C10.8954 12.4799 9.99999 13.3395 9.99999 14.3999Z" stroke="#333333" stroke-width="1.5" stroke-linecap="round" stroke-linejoin="round"></path><path d="M13.0001 2.1719C13.0001 2.2871 12.9512 2.39763 12.8644 2.47908C12.7776 2.56053 12.6598 2.60635 12.5371 2.60635H10.6852V3.02332C10.6851 3.40527 10.5507 3.77645 10.303 4.07953C10.0553 4.38263 9.70809 4.6008 9.31501 4.69999L11.7872 7.01968C11.7907 7.05444 11.7907 7.08934 11.7872 7.12396C11.7923 7.16439 11.7923 7.20512 11.7872 7.24555C11.7872 7.36074 11.7383 7.47128 11.6515 7.55273C11.5647 7.63418 11.4469 7.67999 11.3242 7.67999H11.1853C11.1284 7.66268 11.0751 7.63621 11.0278 7.60174L10.963 7.54095L7.24106 3.95286C7.17038 3.87199 7.13117 3.77091 7.12992 3.66619C7.12992 3.42636 7.33717 3.23175 7.59276 3.23175C7.70607 3.23233 7.81519 3.27262 7.89843 3.34476C7.90168 3.35901 7.90168 3.37385 7.89843 3.38825L8.25029 3.70968H8.25013C8.4118 3.83534 8.61424 3.90588 8.82428 3.90952C9.0698 3.90952 9.30541 3.81789 9.47901 3.655C9.65261 3.4921 9.75011 3.27115 9.75011 3.04064V2.60635H7.46318C7.20758 2.60635 7.00018 2.41174 7.00018 2.17191C7.00018 1.93207 7.20758 1.73747 7.46318 1.73747H9.7594V0.868734H7.46318C7.20758 0.868734 7.00018 0.674274 7.00018 0.434292C7.00018 0.194456 7.20758 0 7.46318 0H12.5372C12.7928 0 13.0002 0.19446 13.0002 0.434292C13.0002 0.674274 12.7928 0.868734 12.5372 0.868734H10.6854V1.73747H12.5372C12.6599 1.73747 12.7777 1.78328 12.8645 1.86473C12.9513 1.94618 13.0002 2.05672 13.0002 2.17191L13.0001 2.1719Z" fill="#F8A63F"></path></g><defs><clipPath id="clip0_17517_29912"><rect width="24" height="24.3137" fill="white" transform="translate(0 0.136719)"></rect></clipPath></defs></svg></span> <span class="lg:font-medium">Loan Against Mutual Funds</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Borrow using mutual fund holdings in minutes</span></a></li><li><p class="font-semibold text-base px-0 lg:px-3 py-1 lg:py-2"><a class="text-black" href="/credit-card/fibe-axis-bank-credit-card/">Credit Card</a></p></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/credit-card/fibe-axis-bank-credit-card/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg fill="none" height="24" viewBox="0 0 24 24" width="24" xmlns="http://www.w3.org/2000/svg"><g stroke-width="1.5"><path d="m2 7h20v4h-20z" stroke="#f8a63f" stroke-linejoin="round"></path><path d="m2 7c0-2.20914 1.79086-4 4-4h12c2.2091 0 4 1.79086 4 4v10c0 2.2091-1.7909 4-4 4h-12c-2.20914 0-4-1.7909-4-4z" stroke="#333" stroke-linejoin="round"></path><path d="m8 17h-2" stroke="#f8a63f" stroke-linecap="round"></path></g></svg></span> <span class="lg:font-medium">Fibe Axis Bank Credit Card</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Go numberless with Fibe Axis Bank Credit Card</span></a></li></ul></li><li class="lg:pl-2"><ul class="[&>li]:mb-1 [&>li:last-child]:mb-0"><li><p class="font-semibold text-base px-0 lg:px-3 py-1 lg:py-2"><a class="text-black" href="/financial-wellness/">Financial Wellness</a></p></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/financial-wellness/salary-advance/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-linejoin="round" stroke-width="1.5" d="M2 7a4 4 0 0 1 4-4h12a4 4 0 0 1 4 4v10a4 4 0 0 1-4 4H6a4 4 0 0 1-4-4V7Z"></path><path stroke="#F8A63F" stroke-linejoin="round" stroke-width="1.5" d="M22 9v6h-4a3 3 0 1 1 0-6h4Z"></path></svg></span> <span class="lg:font-medium">Salary Advance</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Easy financing for your employees instant cash needs</span></a></li><li><p class="font-semibold text-base px-0 lg:px-3 py-1 lg:py-2"><a class="text-black" href="/fibe-emis/">FibeEMIS-Buy Now Pay Later</a></p></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey " href="/fibe-emis/healthcare/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="25" fill="none"><path stroke="#F8A63F" stroke-linecap="round" stroke-width="1.5" d="M12 11.143v6.079M15 14.182H9"></path><path stroke="#333" stroke-linecap="round" stroke-width="1.5" d="M8 6.078V5.065c0-1.679 1.343-3.04 3-3.04h2c1.657 0 3 1.361 3 3.04v1.013M6 22.287h12c2.21 0 4-1.814 4-4.052V10.13c0-2.238-1.79-4.052-4-4.052H6c-2.21 0-4 1.814-4 4.052v8.105c0 2.238 1.79 4.052 4 4.052Z"></path></svg></span> <span class="lg:font-medium">Medical Loan</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Access the best of healthcare on EMIs</span></a></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/fibe-emis/education/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="22" height="21" fill="none"><path stroke="#333" stroke-linecap="round" stroke-width="1.5" d="M10.317 3.632c-2.124-1.507-5.104-2.19-7.323-2.445C1.896 1.062 1 1.991 1 3.137v11.412c0 1.145.896 2.075 1.994 2.2 2.219.254 5.2.937 7.323 2.445.408.29.958.29 1.366 0 2.124-1.508 5.104-2.19 7.323-2.445 1.098-.125 1.994-1.055 1.994-2.2V3.136c0-1.146-.896-2.075-1.994-1.95-2.219.254-5.2.938-7.323 2.445-.408.29-.958.29-1.366 0Z"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-width="1.5" d="M3.994 6.457c1.266.199 2.678.529 4 1.047m-4 3.005c.64.1 1.316.235 2 .41m5-5.679v12.664"></path></svg></span> <span class="lg:font-medium">Education Loan</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Fuel your aspirations with the latest upskilling courses on EMIs</span></a></li></ul></li></ul></li><li class="flex flex-col lg:flex-row relative group/l1 p-3 lg:p-0 "><div class="flex mb:2 lg:mb-0 items-center"><a class="mr-1 group-[.active]/l1:text-primary font-semibold text-base lg:text-lg lg:py-4" href="#">Loan Calculators</a><svg xmlns="http://www.w3.org/2000/svg" width="12" height="6" fill="none" class="stroke-plain-grey mt-1 group-[.active]/l1:stroke-primary"><path d="m1 1 5 4 5-4"></path></svg></div><ul class="relative lg:absolute bg-white top-0 lg:top-full left:0 lg:-left-[250px] lg:transform lg:scale-0 group-hover/l1:lg:scale-100 transition-[max-height] lg:transition duration-300 lg:duration-150 ease-out lg:ease-in-out lg:origin-top lg:shadow-lg z-50 px-2 lg:py-2 lg:rounded-xl max-h-0 overflow-hidden group-hover/l1:max-h-[500px] group-hover/l1:lg:max-h-[auto] group-hover/l1:duration-400 group-hover/l1:lg:duration-150 group-hover/l1:ease-in group-hover/l1:lg:ease-in-out lg:grid lg:grid-cols-2 lg:w-[640px] lg:divide-x [&>li]:mb-1 [&>li:last-child]:mb-0 [&>li>ul>li>a]:text-sm "><li class="lg:pr-2"><ul class="[&>li]:mb-1 [&>li:last-child]:mb-0"><li class="mr-0 group/sublink"><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/personal-loan-emi-calculator/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-linecap="round" stroke-width="1.5" d="M8 6h8m4 12V6a4 4 0 0 0-4-4H8a4 4 0 0 0-4 4v12a4 4 0 0 0 4 4h8a4 4 0 0 0 4-4Z"></path><path fill="#F8A63F" d="M8.75 10a.75.75 0 1 1-1.5 0 .75.75 0 0 1 1.5 0ZM12.75 10a.75.75 0 1 1-1.5 0 .75.75 0 0 1 1.5 0ZM16.75 10a.75.75 0 1 1-1.5 0 .75.75 0 0 1 1.5 0ZM8.75 18a.75.75 0 1 1-1.5 0 .75.75 0 0 1 1.5 0ZM12.75 18a.75.75 0 1 1-1.5 0 .75.75 0 0 1 1.5 0ZM16.75 18a.75.75 0 1 1-1.5 0 .75.75 0 0 1 1.5 0Z"></path></svg></span> <span class="lg:font-medium">Personal Loan EMI Calculator</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Get EMI amount, repayment tenure and interest rate beforehand</span></a></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/instant-cash-loan-emi-calculator/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="22" height="22" fill="none"><path stroke="#333" stroke-width="1.5" d="M17 1H5a4 4 0 0 0-4 4v12a4 4 0 0 0 4 4h12a4 4 0 0 0 4-4V5a4 4 0 0 0-4-4Z"></path><path stroke="#F8A63F" stroke-width="1.5" d="M15 9a2 2 0 0 0-2 2v2a2 2 0 1 0 4 0v-2a2 2 0 0 0-2-2ZM7 5a2 2 0 0 0-2 2v6a2 2 0 1 0 4 0V7a2 2 0 0 0-2-2Z"></path></svg></span> <span class="lg:font-medium">Instant Loan EMI Calculator</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Know EMI loan amount in seconds to plan your finances better</span></a></li></ul></li><li class="lg:pl-2"><ul class="[&>li]:mb-1 [&>li:last-child]:mb-0"><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/personal-loan-eligibility-calculator/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-linecap="round" stroke-width="1.5" d="M22 10v8a4 4 0 0 1-4 4H6a4 4 0 0 1-4-4V6a4 4 0 0 1 4-4h8"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-width="1.5" d="M5 12h1a2 2 0 0 0 2-2V9a2 2 0 1 1 4 0v6a2 2 0 1 0 4 0v-1a2 2 0 0 1 2-2h1m3-7.5a2.5 2.5 0 1 1-5 0 2.5 2.5 0 0 1 5 0Z"></path></svg></span> <span class="lg:font-medium">Eligibility Calculator</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Easy-to-use calculator to know your loan eligibility in seconds</span></a></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/check-credit-score/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="M20 8a2 2 0 0 1 2 2v10a2 2 0 1 1-4 0V10a2 2 0 0 1 2-2ZM4 16a2 2 0 0 1 2 2v2a2 2 0 1 1-4 0v-2a2 2 0 0 1 2-2ZM12 12a2 2 0 0 1 2 2v6a2 2 0 1 1-4 0v-6a2 2 0 0 1 2-2Z"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="M19 2h2a1 1 0 0 1 1 1v2m-1-2c-7.941 6.391-12.058 8.113-19 9"></path></svg></span> <span class="lg:font-medium">Check Credit Score</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Get your credit score for free before applying for a loan</span></a></li></ul></li></ul></li><li class="flex flex-col lg:flex-row relative group/l1 p-3 lg:p-0 active"><div class="flex mb:2 lg:mb-0 items-center"><a class="mr-1 group-[.active]/l1:text-primary font-semibold text-base lg:text-lg lg:py-4" href="#">Learn</a><svg xmlns="http://www.w3.org/2000/svg" width="12" height="6" fill="none" class="stroke-plain-grey mt-1 group-[.active]/l1:stroke-primary"><path d="m1 1 5 4 5-4"></path></svg></div><ul class="relative lg:absolute bg-white top-0 lg:top-full left:0 lg:-left-10 lg:transform lg:scale-0 group-hover/l1:lg:scale-100 transition-[max-height] lg:transition duration-300 lg:duration-150 ease-out lg:ease-in-out lg:origin-top lg:shadow-lg z-50 px-2 lg:py-2 lg:rounded-xl max-h-0 overflow-hidden group-hover/l1:max-h-[500px] group-hover/l1:lg:max-h-[auto] group-hover/l1:duration-400 group-hover/l1:lg:duration-150 group-hover/l1:ease-in group-hover/l1:lg:ease-in-out [&>li]:mb-1 [&>li:last-child]:mb-0 [&>li>a]:text-sm "><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey " href="/blogs/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-width="1.5" d="M16 4h1a4 4 0 0 1 4 4v10a4 4 0 0 1-4 4H7a4 4 0 0 1-4-4V8a4 4 0 0 1 4-4h1m8 0a2 2 0 0 1-2 2h-4a2 2 0 0 1-2-2m8 0a2 2 0 0 0-2-2h-4a2 2 0 0 0-2 2"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-width="1.5" d="M8 10h8m-8 4h8m-8 4h4"></path></svg></span> <span class="lg:font-medium">Blogs</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Read about all things finance and insightful tips to be financially healthy</span></a></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey " href="/financial-dictionary/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-width="1.5" d="M20 16H7a3 3 0 0 0-3 3m0 0a3 3 0 0 0 3 3h10a3 3 0 0 0 3-3V5a3 3 0 0 0-3-3H7a3 3 0 0 0-3 3v14Z"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-width="1.5" d="M8 7h8m-8 4h4"></path></svg></span> <span class="lg:font-medium">Financial Dictionary</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Get all financial terms, formulas, concepts or theories that you are searching for</span></a></li></ul></li><li class="flex flex-col lg:flex-row relative group/l1 p-3 lg:p-0 "><div class="flex mb:2 lg:mb-0 items-center"><a class="mr-1 group-[.active]/l1:text-primary font-semibold text-base lg:text-lg lg:py-4" href="#">About Us</a><svg xmlns="http://www.w3.org/2000/svg" width="12" height="6" fill="none" class="stroke-plain-grey mt-1 group-[.active]/l1:stroke-primary"><path d="m1 1 5 4 5-4"></path></svg></div><ul class="relative lg:absolute bg-white top-0 lg:top-full left:0 lg:-left-[250px] lg:transform lg:scale-0 group-hover/l1:lg:scale-100 transition-[max-height] lg:transition duration-300 lg:duration-150 ease-out lg:ease-in-out lg:origin-top lg:shadow-lg z-50 px-2 lg:py-2 lg:rounded-xl max-h-0 overflow-hidden group-hover/l1:max-h-[500px] group-hover/l1:lg:max-h-[auto] group-hover/l1:duration-400 group-hover/l1:lg:duration-150 group-hover/l1:ease-in group-hover/l1:lg:ease-in-out lg:grid lg:grid-cols-2 lg:w-[640px] lg:divide-x [&>li]:mb-1 [&>li:last-child]:mb-0 [&>li>ul>li>a]:text-sm "><li class="lg:pr-2"><ul class="[&>li]:mb-1 [&>li:last-child]:mb-0"><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/about-us/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-width="1.5" d="M13 3h-2a9 9 0 0 0-9 9v5a4 4 0 0 0 4 4h7a9 9 0 1 0 0-18Z"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-width="1.5" d="M8 10h8m-8 4h4"></path></svg></span> <span class="lg:font-medium">About Fibe</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Fibe is India’s largest lending platform that offers instant credit solutions</span></a></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white 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text-cement-grey">Explore jobs at Fibe that best suits your passion and dreams</span></a></li></ul></li><li class="lg:pl-2"><ul class="[&>li]:mb-1 [&>li:last-child]:mb-0"><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/news/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="M2 6v12a4 4 0 0 0 4 4h12a4 4 0 0 0 4-4V6a4 4 0 0 0-4-4H6a4 4 0 0 0-4 4Z"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="M7 12h10M9 7h6M9 17h6"></path></svg></span> <span class="lg:font-medium">News</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg 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stroke-width="1.5" d="M2 15h6m-6 3h6"></path></svg></span> <span class="lg:font-medium">Contact Us</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Reach us via different channels for your concerns and get instant help</span></a></li></ul></li></ul></li><li class="flex-col lg:flex-row relative group/l1 p-3 lg:p-0 hidden lg:flex"><div class="flex lg:2 lg:mb-0 items-center"><a class="mr-1 group-[.active]/l1:text-primary font-semibold text-base lg:text-lg lg:py-4" href="#">Download Fibe</a><svg xmlns="http://www.w3.org/2000/svg" width="12" height="6" fill="none" class="stroke-plain-grey mt-1 group-[.active]/l1:stroke-primary"><path d="m1 1 5 4 5-4"></path></svg></div><ul class="relative lg:absolute bg-white top-0 lg:top-full left:0 lg:-left-10 lg:transform lg:scale-0 group-hover/l1:lg:scale-100 transition-[max-height] lg:transition duration-300 lg:duration-150 ease-out lg:ease-in-out lg:origin-top lg:shadow-lg z-50 px-2 lg:py-2 lg:rounded-xl max-h-0 overflow-hidden group-hover/l1:max-h-[500px] group-hover/l1:lg:max-h-[auto] group-hover/l1:duration-400 group-hover/l1:lg:duration-150 group-hover/l1:ease-in group-hover/l1:lg:ease-in-out "><li class="mr-0 "><div class="flex flex-col items-start w-[250px]"><div class="hidden lg:block font-semibold text-base mt-2 ml-2">Scan QR to get the Fibe app</div><img alt="Fibe" loading="lazy" width="120" height="120" decoding="async" data-nimg="1" class="mb-2 hidden lg:block max-w-[120px]" style="color:transparent" srcSet="/_next/image/?url=%2Fappsflyer.png&w=128&q=75 1x, /_next/image/?url=%2Fappsflyer.png&w=256&q=75 2x" src="/_next/image/?url=%2Fappsflyer.png&w=256&q=75"/><div class="ml-4 flex flex-wrap flex-col 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Discover a concise guide on employee bonus calculations and learn the formula with Fibe.","image":"https://www.fibe.in/_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F07%2FCalculation-of-Bonus-on-Salary-for-Employees-.jpg&w=3840&q=75","author":{"@type":"Organization","name":"Fibe","url":"https://www.fibe.in/"},"publisher":{"@type":"Organization","name":"Fibe","logo":{"@type":"ImageObject","url":"https://www.fibe.in/fibe-india.svg"}},"dateModified":"2024-09-18"}</script><section class="w-full px-6 lg:px-8 flex"><div class="w-full mt-10 lg:mt-16 pt-16 lg:pt-20 container"><div class="py-4 mb-2 flex flex-wrap justify-between items-center text-center lg:text-left"><ul class="flex flex-wrap justify-center justify-center items-center mx-auto lg:mx-0 [&>li]:mb-2"><li class="inline-flex items-center"><a class="text-sm md:text-base lg:text-lg xl:text-xl px-2 text-sub-grey hover:text-primary font-normal" href="https://www.fibe.in/">Home</a></li><li class="inline-flex items-center font-semibold"><img alt="Fibe personal loan and instant cash loan app" loading="lazy" width="6" height="6" decoding="async" data-nimg="1" class="mx-auto lg:mx-0" style="color:transparent" src="/icons/breadcrumb-arrow.svg"/></li><li class="inline-flex items-center"><a class="text-sm md:text-base lg:text-lg xl:text-xl px-2 text-sub-grey hover:text-primary font-normal" href="https://www.fibe.in/blogs/">Blogs</a></li><li class="inline-flex items-center font-semibold"><img alt="Fibe personal loan and instant cash loan app" loading="lazy" width="6" height="6" decoding="async" data-nimg="1" class="mx-auto lg:mx-0" style="color:transparent" src="/icons/breadcrumb-arrow.svg"/></li><li class="inline-flex items-center"><a class="text-sm md:text-base lg:text-lg xl:text-xl px-2 text-sub-grey hover:text-primary font-normal" href="https://www.fibe.in/blogs/salary/">Salary</a></li><li class="inline-flex items-center font-semibold"><img alt="Fibe personal loan and instant cash loan app" loading="lazy" width="6" height="6" decoding="async" data-nimg="1" class="mx-auto lg:mx-0" style="color:transparent" src="/icons/breadcrumb-arrow.svg"/></li><li class="inline-flex items-center"><div class="text-sm md:text-base lg:text-lg xl:text-xl xl:text-lg px-2 text-primary font-medium">How To Calculate Bonus On Salary And Why It Is Important</div></li></ul></div><h1 class="text-3xl lg:text-5xl text-center lg:text-start font-bold text-midnight-black mb-4 lg:mb-8">How to calculate bonus on salary and why it is important?</h1><div class="my-4"><ul class="divide-x divide-transparent lg:divide-slate-400 flex flex-wrap justify-center lg:justify-start [&>li]:px-3 [&>li]:mb-2 [&>li:first-child]:pl-0 text-base lg:text-xl"><li>Updated on: 18 Sep 2024</li><li>Published on: 17 Jul 2023</li></ul></div></div></section><section class="w-full px-6 lg:px-8"><div class="w-full py-2 container relative lg:flex"><div class="lg:w-2/3 mt-20 lg:mt-0 flex flex-col"><div class="mb-4 lg:mb-8 lg:mr-12"><div class="my-1"><img alt="How to calculate bonus on salary and why it is important?" fetchPriority="high" width="1320" height="400" decoding="async" data-nimg="1" class="w-full mb-2" style="color:transparent" srcSet="/_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F07%2FCalculation-of-Bonus-on-Salary-for-Employees-.jpg&w=1920&q=75 1x, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F07%2FCalculation-of-Bonus-on-Salary-for-Employees-.jpg&w=3840&q=75 2x" src="/_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F07%2FCalculation-of-Bonus-on-Salary-for-Employees-.jpg&w=3840&q=75"/></div></div><div class="lg:order-2 mb-4 lg:mb-8 lg:mr-12"><div class="content-area blogDetailInner"> <p>Before understanding ‘how to calculate bonus on salary’, you need to first understand the meaning of bonuses for employees. According to the Payment of Bonus Act 1965, all factories and establishments employing a total workforce of 20 or more employees need to pay a minimum bonus of 8.33% based on their total wages.</p> <p>These bonuses for employees help in increasing morale and overall productivity. Earning an additional amount over and above regular earnings also helps employees manage their financial commitments better.</p> <p>Simply put, the bonus is a reward paid by the employer as a token of appreciation for an employee’s dedication. Thus, the annual income of an employee is inclusive of the base salary and additional bonuses, if any. </p> <p>Read on for an in-depth understanding of bonuses for employees and how to calculate bonus on salary. </p> <h2 class="wp-block-heading">What are the various bonuses available for employees?</h2> <p>There are different types of bonuses for employees distributed quarterly or annually. While some organisations may offer a one-time payment, others may make recurring payments. Remember that the bonus you earn depends on umpteen factors, such as your position in your company, your performance level, the nature of your job and much more. </p> <p>Here are a few kinds of bonuses you need to know before understanding how to calculate bonus.</p> <ul class="wp-block-list"> <li><strong>Spot Bonus</strong></li> </ul> <p>This kind of bonus is awarded to employees for their exceptional performance and for completing tasks over and above what was expected from them. While this can be a one-time payment, the amount depends on the level of task completed.</p> <ul class="wp-block-list"> <li><strong>Referral Bonus</strong></li> </ul> <p>This is an additional amount paid by the employer if an employee provides a reference for new talent. However, to avail of this bonus, the new referral needs to complete the probation period of at least 90 days. This may differ from one employer to another. </p> <ul class="wp-block-list"> <li><strong>Annual Bonus</strong></li> </ul> <p>These bonuses depend on the performance of a company as a whole. Here, the total amount of bonus is directly proportional to profits earned by an organisation during a financial year. </p> <ul class="wp-block-list"> <li><strong>Holiday Bonus</strong></li> </ul> <p>These are specific bonuses awarded to employees on select holidays and festivals. While they can take the form of gifts and vouchers, some employers also provide monetary benefits. </p> <ul class="wp-block-list"> <li><strong>Longevity Bonus</strong></li> </ul> <p>These bonuses are paid to employees for their significant contribution to the company across a considerable timeline. Employees may receive them either as a cash reward or in the form of an increment. This bonus encourages an employee to continue working in the same organisation, thereby fostering their loyalty.</p> <h2 class="wp-block-heading">How to calculate bonus?</h2> <p>Now that you are familiar with the types of bonuses, here is a quick snapshot of the calculation of bonus. Before evaluating the formula for the calculation of bonus, you need to first check if you are eligible or not.</p> <p>As per the Bonus Act, all employees who have completed at least 30 working days are applicable for a statutory bonus, provided they meet the required criteria. While the minimum bonus is 8.33%, the maximum goes up to 20%. You can avail this bonus only if your monthly salary does not exceed ₹21,000.</p> <p>The formula for the calculation of bonus is simple:</p> <p><strong>Applicable Bonus = Your Salary x 8.33/100</strong></p> <p>The aforementioned formula applies only if your monthly salary is equal to or less than ₹7,000. In case your monthly salary is above ₹7,000, the calculation of bonus happens in this manner:</p> <p><strong>Applicable Bonus = 7,000 x 8.33/100</strong></p> <p>Using both these formulas after checking your eligibility can help you easily calculate the bonus.</p> <h2 class="wp-block-heading">Calculation of bonus using a hypothetical example</h2> <p>Here is a simple illustration to help you understand the calculation of bonus. Assume you earn a monthly salary of ₹15,000, which includes the basic salary and the Dearness Allowance. In such an instance, the calculation of bonus happens in the following way:</p> <p><strong>Bonus Amount Eligible = 15,000 x 8.33/100</strong></p> <p>This is equal to ₹1,250 approximately for a month and ₹14,994 for a year.</p> <p>While a bonus payment is a fair act to recognise the efforts of an employee, this also helps employees earn additional funds to manage their finances. As a salaried employee, you may or may not be eligible for a bonus. If you require quick funds, you can apply for a <a href="https://personal-loan.fibe.in/">Personal Loan</a> in minutes on Fibe. Download our <a href="https://play.google.com/store/apps/details?id=com.earlysalary.android&hl=en_IN&gl=IN">Personal Loan App</a> and get anywhere from ₹5,000 to ₹5 lakhs. You may also register on our website to get started. </p> <h2 class="wp-block-heading"><strong>FAQs on the </strong><strong>calculation of bonus</strong></h2> <h2 class="wp-block-heading">What is a bonus in salary?</h2> <p>A bonus is a token of appreciation usually given to recognise an employee’s efforts. This is the additional amount given over and above the base salary.</p> <h2 class="wp-block-heading">What is the formula for a salary bonus?</h2> <p>The formula used for the calculation of bonus is as follows:</p> <ul class="wp-block-list"> <li>Applicable Bonus = Your Salary x 8.33/100</li> </ul> <h2 class="wp-block-heading">Is the bonus calculated on gross salary or net salary?</h2> <p>Bonus calculation is done on the gross salary.</p> <h2 class="wp-block-heading">Is a salary above ₹21,000 eligible for a bonus?</h2> <p>No. If an employee’s basic salary plus the dearness allowance exceeds ₹21,000, a bonus is not payable.</p> <h2 class="wp-block-heading">Is it mandatory to pay a 20% bonus?</h2> <p>The bonus rate is calculated between 8.33% and 20%, depending on the available surplus funds as per the Payment of Bonus Act. This Act applies only to certain employers. Remember that the maximum bonus paid depends on the employee’s total income and the compensation earned too.</p> <h2 class="wp-block-heading">What is the bonus in CTC?</h2> <p>The performance bonus is a variable element of your total CTC structure.</p> <h2 class="wp-block-heading">What is the basic eligibility for a bonus?</h2> <p>According to the Payment of Bonus Act 1965, all factories and establishments employing a total workforce of 20 or more employees need to pay a minimum bonus of 8.33% based on their total wages. </p> <p><strong>Source:</strong></p> <p><a href="https://clc.gov.in/clc/acts-rules/payment-bonus-act#:~:text=The%20Act%20Applies%20to%20all,of%208.33%20percent%20of%20wages">https://clc.gov.in/clc/acts-rules/payment-bonus-act#:~:text=The%20Act%20Applies%20to%20all,of%208.33%20percent%20of%20wages</a></p> </div><div class="my-4"><ul class="divide-x divide-transparent lg:divide-slate-400 flex flex-wrap justify-start lg:justify-start [&>li]:px-3 [&>li]:mb-2 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shadow-[0px_4px_4px_0px_rgba(0,0,0,0.05)] " href="/blogs/fibeemis/">FibeEMIS</a><a class="cursor-pointer px-4 lg:px-6 py-2 lg:py-4 text-base flex items-center justify-center truncate select-none font-normal rounded-full border border-light-grey bg-white hover:bg-primary text-plain-grey hover:text-white peer-checked/et0:bg-primary peer-checked/et0:text-white shadow-[0px_4px_4px_0px_rgba(0,0,0,0.05)] " href="/blogs/finance/">Finance</a><a class="cursor-pointer px-4 lg:px-6 py-2 lg:py-4 text-base flex items-center justify-center truncate select-none font-normal rounded-full border border-light-grey bg-white hover:bg-primary text-plain-grey hover:text-white peer-checked/et0:bg-primary peer-checked/et0:text-white shadow-[0px_4px_4px_0px_rgba(0,0,0,0.05)] " href="/blogs/fixed-deposit/">Fixed Deposit</a><a class="cursor-pointer px-4 lg:px-6 py-2 lg:py-4 text-base flex items-center justify-center truncate select-none font-normal rounded-full border border-light-grey bg-white hover:bg-primary text-plain-grey hover:text-white peer-checked/et0:bg-primary peer-checked/et0:text-white shadow-[0px_4px_4px_0px_rgba(0,0,0,0.05)] " href="/blogs/home-improvement-loan/">Home Improvement Loan</a><a class="cursor-pointer px-4 lg:px-6 py-2 lg:py-4 text-base flex items-center justify-center truncate select-none font-normal rounded-full border border-light-grey bg-white hover:bg-primary text-plain-grey hover:text-white peer-checked/et0:bg-primary peer-checked/et0:text-white shadow-[0px_4px_4px_0px_rgba(0,0,0,0.05)] " href="/blogs/instant-cash/">Instant Cash</a><a class="cursor-pointer px-4 lg:px-6 py-2 lg:py-4 text-base flex items-center justify-center truncate select-none font-normal rounded-full border border-light-grey bg-white hover:bg-primary text-plain-grey hover:text-white peer-checked/et0:bg-primary peer-checked/et0:text-white shadow-[0px_4px_4px_0px_rgba(0,0,0,0.05)] " href="/blogs/instant-cash-loan/">Instant Cash Loan</a><a class="cursor-pointer px-4 lg:px-6 py-2 lg:py-4 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href="/blogs/loan-management-tips/">Loan Management Tips</a><a class="cursor-pointer px-4 lg:px-6 py-2 lg:py-4 text-base flex items-center justify-center truncate select-none font-normal rounded-full border border-light-grey bg-white hover:bg-primary text-plain-grey hover:text-white peer-checked/et0:bg-primary peer-checked/et0:text-white shadow-[0px_4px_4px_0px_rgba(0,0,0,0.05)] " href="/blogs/medical-loan/">Medical Loan</a><a class="cursor-pointer px-4 lg:px-6 py-2 lg:py-4 text-base flex items-center justify-center truncate select-none font-normal rounded-full border border-light-grey bg-white hover:bg-primary text-plain-grey hover:text-white peer-checked/et0:bg-primary peer-checked/et0:text-white shadow-[0px_4px_4px_0px_rgba(0,0,0,0.05)] " href="/blogs/pan-card/">PAN Card</a><a class="cursor-pointer px-4 lg:px-6 py-2 lg:py-4 text-base flex items-center justify-center truncate select-none font-normal rounded-full border border-light-grey bg-white hover:bg-primary text-plain-grey hover:text-white peer-checked/et0:bg-primary peer-checked/et0:text-white shadow-[0px_4px_4px_0px_rgba(0,0,0,0.05)] " href="/blogs/personal-loan/">Personal Loan</a><a class="cursor-pointer px-4 lg:px-6 py-2 lg:py-4 text-base flex items-center justify-center truncate select-none font-normal rounded-full border border-light-grey bg-white hover:bg-primary text-plain-grey hover:text-white peer-checked/et0:bg-primary peer-checked/et0:text-white shadow-[0px_4px_4px_0px_rgba(0,0,0,0.05)] " href="/blogs/salary/">Salary</a><a class="cursor-pointer px-4 lg:px-6 py-2 lg:py-4 text-base flex items-center justify-center truncate select-none font-normal rounded-full border border-light-grey bg-white hover:bg-primary text-plain-grey hover:text-white peer-checked/et0:bg-primary peer-checked/et0:text-white shadow-[0px_4px_4px_0px_rgba(0,0,0,0.05)] " href="/blogs/secured-loan/">Secured Loan</a><a class="cursor-pointer px-4 lg:px-6 py-2 lg:py-4 text-base flex items-center justify-center truncate select-none font-normal rounded-full border border-light-grey bg-white hover:bg-primary text-plain-grey hover:text-white peer-checked/et0:bg-primary peer-checked/et0:text-white shadow-[0px_4px_4px_0px_rgba(0,0,0,0.05)] " href="/blogs/tax/">Tax</a><a class="cursor-pointer px-4 lg:px-6 py-2 lg:py-4 text-base flex items-center justify-center truncate select-none font-normal rounded-full border border-light-grey bg-white hover:bg-primary text-plain-grey hover:text-white peer-checked/et0:bg-primary peer-checked/et0:text-white shadow-[0px_4px_4px_0px_rgba(0,0,0,0.05)] " href="/blogs/travel-loan/">Travel Loan</a><a class="cursor-pointer px-4 lg:px-6 py-2 lg:py-4 text-base flex items-center justify-center truncate select-none font-normal rounded-full border border-light-grey bg-white hover:bg-primary text-plain-grey hover:text-white peer-checked/et0:bg-primary peer-checked/et0:text-white shadow-[0px_4px_4px_0px_rgba(0,0,0,0.05)] " href="/blogs/upskill-loan/">Upskill 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divide-[#424242] first:pt-3 [&>*]lg:py-6 [&>*]:xl:pl-14 [&>*]:xl:pr-6 [&>div>ul>li>a]:text-lighter-grey [&>div>ul>li>a:hover]:text-white"><div class="first:pl-0 xl:flex-grow xl:w-1/4"><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="fair code practices" href="/fair-code-practices/">Fair Practice Codes</a></li><li><a class="hover:text-primary" title="terms conditions" href="/terms-conditions/">Terms And Conditions</a></li><li><a class="hover:text-primary" title="Amazon pay giftcard T&C" href="/amazon-pay-gift-card-tnc/">Amazon pay giftcard T&C</a></li><li><a class="hover:text-primary" title="Promotional T&Cs for HRMS Tie-ups" href="/promotions-tnc/">Promotional T&Cs for HRMS Tie-ups</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="Refer & Earn T&C" href="/refer-n-earn-tnc/">Refer & Earn T&C</a></li><li><a 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href="/face-code-conduct/">FACE - Code of Conduct</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="Grievance Redressal Policy" href="/grievance-redressal/">Grievance Redressal Policy</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Our Lending Partners" href="/our-lending-partners/">Our Lending Partners</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Our Sourcing Partners" href="/our-sourcing-partners/">Our Sourcing Partners</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Our Collection Agencies" href="/our-collection-agencies/">Our Collection Agencies</a></li></ul></div></div></div></section><section class="bg-mid-grey text-white py-2 lg:py-4 px-2 rounded-lg"><div class="inline-flex items-center h-10 px-3 text-white"><span class="mr-2 font-semibold text-lg capitalize">Resources</span><svg 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href="/instant-cash-loan-emi-calculator/">Instant Loan EMI Calculator</a></li><li><a class="hover:text-primary" title="Amazon pay giftcard T&C" href="/personal-loan-eligibility-calculator/">Eligibility Calculator</a></li><li><a class="hover:text-primary" title="Promotional T&Cs for HRMS Tie-ups" href="/check-credit-score/">Check Credit Score</a></li><li><a class="hover:text-primary" title="Personal Loan Interest Rate" href="/personal-loan/personal-loan-interest-rate/">Personal Loan Interest Rate</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><div class="font-semibold mb-5 capitalize">Personal Loan Eligibility</div><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="Instant Loan Eligibility Criteria" href="/instant-cash-loan/eligibility-criteria/">Instant Loan Eligibility Criteria</a></li><li><a class="hover:text-primary" title="Personal Loan Eligibility Criteria" href="/personal-loan/eligibility-criteria/">Personal Loan Eligibility Criteria</a></li><li><a class="hover:text-primary" title="Document Required for Instant Loan" href="/instant-cash-loan/documents-required/">Document Required for Instant Loan</a></li><li><a class="hover:text-primary" title="Document Required for Personal Loan" href="/personal-loan/documents-required/">Document Required for Personal Loan</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><div class="font-semibold mb-5 capitalize">Personal Loan by Salary</div><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="20,000 Salary Loan" href="/personal-loan/20000-salary-loan/">20,000 Salary Loan</a></li><li class="first:mt-0"><a class="hover:text-primary" title="30,000 Salary Loan" href="/personal-loan/30000-salary-loan/">30,000 Salary Loan</a></li><li class="first:mt-0"><a class="hover:text-primary" title="40,000 Salary Loan" href="/personal-loan/40000-salary-loan/">40,000 Salary Loan</a></li><li class="first:mt-0"><a class="hover:text-primary" title="50,000 Salary Loan" href="/personal-loan/50000-salary-loan/">50,000 Salary Loan</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><div class="font-semibold mb-5 capitalize">Credit Card</div><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="Free credit card" href="/credit-card/free-credit-card/">Free credit card</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Cashback Credit card" href="/credit-card/cashback-credit-card/">Cashback Credit card</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Card Eligibilty Criteria" href="/credit-card/credit-card-eligibility-criteria/">Card Eligibilty Criteria</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Document Required for Credit card" href="/credit-card/document-required-for-credit-card/">Document Required for Credit card</a></li></ul></div></div><div class="mt-6"></div><div class="grid gap-0 lg:gap-2 grid-cols-1 lg:grid-cols-2 xl:flex divide-y xl:divide-x lg:divide-y-0 divide-[#424242] first:pt-3 [&>*]lg:py-6 [&>*]:xl:pl-14 [&>*]:xl:pr-6 [&>div>ul>li>a]:text-lighter-grey [&>div>ul>li>a:hover]:text-white"><div class="first:pl-0 xl:flex-grow xl:w-1/4"><div class="font-semibold mb-5 capitalize">Types of Loan</div><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="Loan for Government Employees" href="/personal-loan/government-employees/">Loan for Government Employees</a></li><li><a class="hover:text-primary" title="Loan for Salaried Professional" href="/personal-loan/salaried-professional/">Loan for Salaried Professional</a></li><li><a class="hover:text-primary" title="Travel Loan" href="/personal-loan/travel-loan/">Travel Loan</a></li><li><a class="hover:text-primary" title="Digital Loan" href="/personal-loan/digital-loan/">Digital Loan</a></li><li><a class="hover:text-primary" title="Short Term Loan" href="/personal-loan/short-term-loan/">Short Term Loan</a></li><li><a class="hover:text-primary" title="Long Term Loan" href="/personal-loan/long-term-loan/">Long Term Loan</a></li><li><a class="hover:text-primary" title="Wedding Loan" href="/personal-loan/wedding-loan/">Wedding Loan</a></li><li><a class="hover:text-primary" title="Medical Loan" href="/personal-loan/medical-emergency-loan/">Medical Loan</a></li><li><a class="hover:text-primary" title="Secured Loan" href="/secured-loan/">Secured Loan</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><div class="font-semibold mb-5 capitalize">Personal loan by Amount</div><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="50000 Personal Loan" href="/personal-loan/50000-personal-loan/">50000 Loan</a></li><li><a class="hover:text-primary" title="60000 Personal Loan" href="/personal-loan/60000-personal-loan/">60000 Loan</a></li><li><a class="hover:text-primary" title="70000 Personal Loan" href="/personal-loan/70000-personal-loan/">70000 Loan</a></li><li><a class="hover:text-primary" title="80000 Personal Loan" href="/personal-loan/80000-personal-loan/">80000 Loan</a></li><li><a class="hover:text-primary" title="90000 Personal Loan" href="/personal-loan/90000-personal-loan/">90000 Loan</a></li><li><a class="hover:text-primary" title="1 Lakh Personal Loan" href="/personal-loan/1-lakh-personal-loan/">1 Lakh Loan</a></li><li><a class="hover:text-primary" title="2 Lakh Personal Loan" href="/personal-loan/2-lakh-personal-loan/">2 Lakh Loan</a></li><li><a class="hover:text-primary" title="3 Lakh Personal Loan" href="/personal-loan/3-lakh-personal-loan/">3 Lakh Loan</a></li><li><a class="hover:text-primary" title="4 Lakh Personal Loan" href="/personal-loan/4-lakh-personal-loan/">4 Lakh Loan</a></li><li><a class="hover:text-primary" title="5 Lakh Personal Loan" href="/personal-loan/5-lakh-personal-loan/">5 Lakh Loan</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><div class="font-semibold mb-5 capitalize">Blogs</div><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="Foreclosure Charges for Personal Loan" href="/blogs/foreclosure-charges-for-personal-loan/">Foreclosure Charges for Personal Loan</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Check Personal Loan Statement" href="/blogs/check-your-personal-loan-statement-loan-details-in-6-easy-steps/">Check Personal Loan Statement</a></li><li class="first:mt-0"><a class="hover:text-primary" title="What is Loan Account Number?" href="/blogs/loan-account-number-why-it-is-important-and-how-to-find-it/">What is Loan Account Number?</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Check Loan Status Using Pan Card" 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to calculate bonus on salary and why it is important?\\\",\\\"description\\\":\\\"Curious about how to calculate bonuses on your salary? Discover a concise guide on employee bonus calculations and learn the formula with Fibe.\\\",\\\"image\\\":\\\"https://www.fibe.in/_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F07%2FCalculation-of-Bonus-on-Salary-for-Employees-.jpg\u0026w=3840\u0026q=75\\\",\\\"author\\\":{\\\"@type\\\":\\\"Organization\\\",\\\"name\\\":\\\"Fibe\\\",\\\"url\\\":\\\"https://www.fibe.in/\\\"},\\\"publisher\\\":{\\\"@type\\\":\\\"Organization\\\",\\\"name\\\":\\\"Fibe\\\",\\\"logo\\\":{\\\"@type\\\":\\\"ImageObject\\\",\\\"url\\\":\\\"https://www.fibe.in/fibe-india.svg\\\"}},\\\"dateModified\\\":\\\"2024-09-18\\\"}\"}}],null,[\"$\",\"section\",null,{\"className\":\"w-full px-6 lg:px-8 flex\",\"children\":[\"$\",\"div\",null,{\"className\":\"w-full mt-10 lg:mt-16 pt-16 lg:pt-20 container\",\"children\":[[\"$\",\"div\",null,{\"className\":\"py-4 mb-2 flex flex-wrap justify-between items-center text-center lg:text-left\",\"children\":[\"$\",\"ul\",null,{\"className\":\"flex flex-wrap justify-center justify-center items-center mx-auto lg:mx-0 [\u0026\u003eli]:mb-2\",\"children\":[[[\"$\",\"li\",null,{\"className\":\"inline-flex items-center\",\"children\":[\"$\",\"$Lb\",null,{\"href\":\"https://www.fibe.in/\",\"className\":\"text-sm md:text-base lg:text-lg xl:text-xl px-2 text-sub-grey hover:text-primary font-normal\",\"children\":\"Home\"}]}],[\"$\",\"li\",null,{\"className\":\"inline-flex items-center font-semibold\",\"children\":[\"$\",\"$L12\",null,{\"src\":\"/icons/breadcrumb-arrow.svg\",\"alt\":\"Fibe personal loan and instant cash loan app\",\"className\":\"mx-auto lg:mx-0\",\"width\":6,\"height\":6}]}]],[[\"$\",\"li\",null,{\"className\":\"inline-flex items-center\",\"children\":[\"$\",\"$Lb\",null,{\"href\":\"https://www.fibe.in/blogs/\",\"className\":\"text-sm md:text-base lg:text-lg xl:text-xl px-2 text-sub-grey hover:text-primary font-normal\",\"children\":\"Blogs\"}]}],[\"$\",\"li\",null,{\"className\":\"inline-flex items-center font-semibold\",\"children\":[\"$\",\"$L12\",null,{\"src\":\"/icons/breadcrumb-arrow.svg\",\"alt\":\"Fibe personal loan and instant cash loan app\",\"className\":\"mx-auto lg:mx-0\",\"width\":6,\"height\":6}]}]],[[\"$\",\"li\",null,{\"className\":\"inline-flex items-center\",\"children\":[\"$\",\"$Lb\",null,{\"href\":\"https://www.fibe.in/blogs/salary/\",\"className\":\"text-sm md:text-base lg:text-lg xl:text-xl px-2 text-sub-grey hover:text-primary font-normal\",\"children\":\"Salary\"}]}],[\"$\",\"li\",null,{\"className\":\"inline-flex items-center font-semibold\",\"children\":[\"$\",\"$L12\",null,{\"src\":\"/icons/breadcrumb-arrow.svg\",\"alt\":\"Fibe personal loan and instant cash loan app\",\"className\":\"mx-auto lg:mx-0\",\"width\":6,\"height\":6}]}]],[[\"$\",\"li\",null,{\"className\":\"inline-flex items-center\",\"children\":[\"$\",\"div\",null,{\"className\":\"text-sm md:text-base lg:text-lg xl:text-xl xl:text-lg px-2 text-primary font-medium\",\"children\":\"How To Calculate Bonus On Salary And Why It Is Important\"}]}],\"\"]]}]}],[\"$\",\"h1\",null,{\"className\":\"text-3xl lg:text-5xl text-center lg:text-start font-bold text-midnight-black mb-4 lg:mb-8\",\"children\":\"How to calculate bonus on salary and why it is important?\"}],null,[\"$\",\"div\",null,{\"className\":\"my-4\",\"children\":[\"$\",\"ul\",null,{\"className\":\"divide-x divide-transparent lg:divide-slate-400 flex flex-wrap justify-center lg:justify-start [\u0026\u003eli]:px-3 [\u0026\u003eli]:mb-2 [\u0026\u003eli:first-child]:pl-0 text-base lg:text-xl\",\"children\":[[\"$\",\"li\",null,{\"children\":[\"Updated on: \",\"18 Sep 2024\"]}],[\"$\",\"li\",null,{\"children\":[\"Published on: \",\"17 Jul 2023\"]}],null]}]}]]}]}],[\"$\",\"section\",null,{\"className\":\"w-full px-6 lg:px-8\",\"children\":[\"$\",\"div\",null,{\"className\":\"w-full py-2 container relative lg:flex\",\"children\":[[\"$\",\"div\",null,{\"className\":\"lg:w-2/3 mt-20 lg:mt-0 flex flex-col\",\"children\":[[\"$\",\"div\",null,{\"className\":\"mb-4 lg:mb-8 lg:mr-12\",\"children\":[\"$\",\"div\",null,{\"className\":\"my-1\",\"children\":[\"$\",\"$L12\",null,{\"src\":\"https://altcont.fibe.in/wp-content/uploads/2023/07/Calculation-of-Bonus-on-Salary-for-Employees-.jpg\",\"width\":1320,\"height\":400,\"className\":\"w-full mb-2\",\"alt\":\"How to calculate bonus on salary and why it is important?\",\"priority\":true}]}]}],[\"$\",\"div\",null,{\"className\":\"lg:order-2 mb-4 lg:mb-8 lg:mr-12\",\"children\":[[\"$\",\"div\",null,{\"className\":\"content-area blogDetailInner\",\"dangerouslySetInnerHTML\":{\"__html\":\"\\n\u003cp\u003eBefore understanding ‘how to calculate bonus on salary’, you need to first understand the meaning of bonuses for employees. According to the Payment of Bonus Act 1965, all factories and establishments employing a total workforce of 20 or more employees need to pay a minimum bonus of 8.33% based on their total wages.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThese bonuses for employees help in increasing morale and overall productivity. Earning an additional amount over and above regular earnings also helps employees manage their financial commitments better.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eSimply put, the bonus is a reward paid by the employer as a token of appreciation for an employee’s dedication. Thus, the annual income of an employee is inclusive of the base salary and additional bonuses, if any.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eRead on for an in-depth understanding of bonuses for employees and how to calculate bonus on salary.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eWhat are the various bonuses available for employees?\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThere are different types of bonuses for employees distributed quarterly or annually. While some organisations may offer a one-time payment, others may make recurring payments. Remember that the bonus you earn depends on umpteen factors, such as your position in your company, your performance level, the nature of your job and much more.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eHere are a few kinds of bonuses you need to know before understanding how to calculate bonus.\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003e\u003cstrong\u003eSpot Bonus\u003c/strong\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eThis kind of bonus is awarded to employees for their exceptional performance and for completing tasks over and above what was expected from them. While this can be a one-time payment, the amount depends on the level of task completed.\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003e\u003cstrong\u003eReferral Bonus\u003c/strong\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eThis is an additional amount paid by the employer if an employee provides a reference for new talent. However, to avail of this bonus, the new referral needs to complete the probation period of at least 90 days. This may differ from one employer to another.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003e\u003cstrong\u003eAnnual Bonus\u003c/strong\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eThese bonuses depend on the performance of a company as a whole. Here, the total amount of bonus is directly proportional to profits earned by an organisation during a financial year.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003e\u003cstrong\u003eHoliday Bonus\u003c/strong\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eThese are specific bonuses awarded to employees on select holidays and festivals. While they can take the form of gifts and vouchers, some employers also provide monetary benefits.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003e\u003cstrong\u003eLongevity Bonus\u003c/strong\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eThese bonuses are paid to employees for their significant contribution to the company across a considerable timeline. Employees may receive them either as a cash reward or in the form of an increment. This bonus encourages an employee to continue working in the same organisation, thereby fostering their loyalty.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eHow to calculate bonus?\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eNow that you are familiar with the types of bonuses, here is a quick snapshot of the calculation of bonus. Before evaluating the formula for the calculation of bonus, you need to first check if you are eligible or not.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAs per the Bonus Act, all employees who have completed at least 30 working days are applicable for a statutory bonus, provided they meet the required criteria. While the minimum bonus is 8.33%, the maximum goes up to 20%. You can avail this bonus only if your monthly salary does not exceed ₹21,000.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe formula for the calculation of bonus is simple:\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eApplicable Bonus = Your Salary x 8.33/100\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe aforementioned formula applies only if your monthly salary is equal to or less than ₹7,000. In case your monthly salary is above ₹7,000, the calculation of bonus happens in this manner:\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eApplicable Bonus = 7,000 x 8.33/100\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eUsing both these formulas after checking your eligibility can help you easily calculate the bonus.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eCalculation of bonus using a hypothetical example\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eHere is a simple illustration to help you understand the calculation of bonus. Assume you earn a monthly salary of ₹15,000, which includes the basic salary and the Dearness Allowance. In such an instance, the calculation of bonus happens in the following way:\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eBonus Amount Eligible = 15,000 x 8.33/100\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThis is equal to ₹1,250 approximately for a month and ₹14,994 for a year.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWhile a bonus payment is a fair act to recognise the efforts of an employee, this also helps employees earn additional funds to manage their finances. As a salaried employee, you may or may not be eligible for a bonus. If you require quick funds, you can apply for a \u003ca href=\\\"https://personal-loan.fibe.in/\\\"\u003ePersonal Loan\u003c/a\u003e in minutes on Fibe. Download our \u003ca href=\\\"https://play.google.com/store/apps/details?id=com.earlysalary.android\u0026amp;hl=en_IN\u0026amp;gl=IN\\\"\u003ePersonal Loan App\u003c/a\u003e and get anywhere from ₹5,000 to ₹5 lakhs. You may also register on our website to get started. \u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003e\u003cstrong\u003eFAQs on the \u003c/strong\u003e\u003cstrong\u003ecalculation of bonus\u003c/strong\u003e\u003c/h2\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eWhat is a bonus in salary?\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eA bonus is a token of appreciation usually given to recognise an employee\u0026#8217;s efforts. This is the additional amount given over and above the base salary.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eWhat is the formula for a salary bonus?\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThe formula used for the calculation of bonus is as follows:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eApplicable Bonus = Your Salary x 8.33/100\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eIs the bonus calculated on gross salary or net salary?\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eBonus calculation is done on the gross salary.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eIs a salary above ₹21,000 eligible for a bonus?\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eNo. If an employee’s basic salary plus the dearness allowance exceeds ₹21,000, a bonus is not payable.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eIs it mandatory to pay a 20% bonus?\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThe bonus rate is calculated between 8.33% and 20%, depending on the available surplus funds as per the Payment of Bonus Act. This Act applies only to certain employers. Remember that the maximum bonus paid depends on the employee’s total income and the compensation earned too.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eWhat is the bonus in CTC?\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThe performance bonus is a variable element of your total CTC structure.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eWhat is the basic eligibility for a bonus?\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eAccording to the Payment of Bonus Act 1965, all factories and establishments employing a total workforce of 20 or more employees need to pay a minimum bonus of 8.33% based on their total wages.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eSource:\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003ca href=\\\"https://clc.gov.in/clc/acts-rules/payment-bonus-act#:~:text=The%20Act%20Applies%20to%20all,of%208.33%20percent%20of%20wages\\\"\u003ehttps://clc.gov.in/clc/acts-rules/payment-bonus-act#:~:text=The%20Act%20Applies%20to%20all,of%208.33%20percent%20of%20wages\u003c/a\u003e\u003c/p\u003e\\n\"}}],[\"$\",\"div\",null,{\"className\":\"my-4\",\"children\":[\"$\",\"ul\",null,{\"className\":\"divide-x divide-transparent lg:divide-slate-400 flex flex-wrap justify-start lg:justify-start [\u0026\u003eli]:px-3 [\u0026\u003eli]:mb-2 [\u0026\u003eli:first-child]:pl-0 text-base lg:text-xl\",\"children\":[[\"$\",\"li\",null,{\"children\":[\"$\",\"$Lb\",null,{\"href\":\"/blogs/salary/\",\"className\":\"text-primary hover:text-primary-dark\",\"children\":\"Salary\"}]}],[\"$\",\"li\",null,{\"children\":\"17 Jul 2023\"}]]}]}]]}],[\"$\",\"$L13\",null,{\"title\":\"How to calculate bonus on salary and why it is 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