How do I enable or disable Statutory Bonus for my organization?

Note: This feature is only available in early access. Contact support@zohopayroll.com to get access for your organisation.

You must enable Statutory Bonus for your organisation before you them for your employees. Here’s how:

• Click Settings in the top right corner and select Statutory Components.
• Switch to the Statutory Bonus tab.
• Click Enable Statutory Bonus.

Configuring statutory bonus

To configure statutory bonus for your organisation:

• Click Settings in the top right corner and select Statutory Components.
• Switch to the Statutory Bonus tab.
• Select the Payment Frequency (Monthly or Yearly) and enter the Percentage of Bonus (between 8.33% and 20%).
• For the states your organisation operates in, you must set the minimum wage for each applicable state. To do this, click on + Add Minimum Wage.
• Click Save.

Once you configure statutory bonus, the above calculations will be processed along with the salary of the employees.