How to calculate incentive?
The bonus amount will be determined as follows:
● If an employee's salary is equal to or less than Rs. 7,000, the bonus will be calculated based on the actual salary amount. The calculation will be done by multiplying the salary by 8.33% and dividing the result by 100. The formula for this calculation is: Bonus = Salary x 8.33 / 100.
● If an employee's salary is more than Rs. 7,000, the bonus will be calculated based on a maximum amount of Rs. 7,000. The calculation will be done by multiplying Rs. 7,000 by 8.33% and dividing the result by 100. The formula for this calculation is: Bonus = 7,000 x 8.33 / 100.