How to create a new bonus type and assign it

A bonus is an additional payment provided by an employer on certain occasions. These occasions include when an employee joins the organization, known as a Joining Bonus; to retain an employee, known as a Retention Bonus; or when the employee performs exceptionally well, known as a Performance Bonus.

Assigning Bonus can be done through 3 different methods on the Keka portal:

• While running the payroll for the current month
• Through bulk import of bonuses using Excel
• Via the Employee Profile
  
  
  

In order to use any of these methods, you have to create a Bonus Type first.

To create a Bonus Type, navigate to the following location:

Payroll (1)>> Settings (2) >> Components (3). 

Under Components, select the Ad hoc Components tab.  Click on the dropdown and choose Add Bonus.

On the overlay window, you can add a Bonus Name and a Description for the bonus. Once down, click Add Bonus.

Now that the Bonus Type is created, you can assign it to eligible employees.

While running the payroll for the current month

Navigate to Payroll (1)>> Run Payroll (2). 

Select the pay group from the drop-down if you have more than one configured. In the Run Payroll section, select Bonus, Salary Revisions & Overtime (3).

The Employee Salary Changes window opens up. In the Bonus (4) section, click on Import Bonuses. 

From the window that opens, Download the Excel Template.

The downloaded Excel Template will look like the one below. Add Employee Number, Employee Name, Bonus Type, Amount, and Note. 

The columns with red titles in the Excel template are mandatory fields.

Once you have updated the file, save it.

Now, get back to the Import Bonus page on the Keka portal and click Upload Excel File. 

To know more about downloading/uploading Excel data files, click here.

Once, your file is uploaded, check the Employee Bonus Details for accuracy. Update the Pay action by selecting the appropriate option from the dropdown. Type in comments if you have any and click on Save & Continue.

Bulk import of bonuses using Excel

Navigate to the following location on the Keka portal:

Payroll (1) >> Payroll Admin (2) >> Operations (3).

 Scroll down to the Payroll Imports section and click on Import Bonuses with Payout Date.

From the Import Employee Bonus window, select the appropriate Pay Group if you have multiple pay groups configured. 

Download the Excel Template from this window and add the necessary details to this sheet. 

The downloaded Excel file will look like the following. Make necessary updates in it.

The columns with red titles in the Excel template are mandatory fields.

Once you have updated the file, save it.

Now, get back to the Import Bonus page on the Keka portal and click Upload Excel File. 

Once, your file is uploaded you will be required to match the column headings and verify the data to be imported. If there are no errors, click on Complete and then Confirm on the dialog box that appears. Bonuses will then be updated on the Keka HR Portal. 

To know more about downloading/uploading Excel data files, click here.

Via the Employee Profile

Go to the search bar (1) on the Keka portal, type in the employee’s name, and click on the profile. 

Once the employee profile appears, select the Finances (2) tab, select Pay (3), and open the Salary (4) tab.

Click on the Three Dots and choose +Add bonus (5) from the dropdown.  

Choose a Bonus Type from the dropdown or create a new one. Then, add other details like the Bonus Amount, Payment Status, and Payout Date, and then click Save.

Adding a bonus for any employee will increase the annual CTC for that employee.

If you have any queries, please refer to the other articles or contact us!