Bonus Calculator
Statutory Bonus Calculator
Statutory Bonus Calculator
Calculate Salary & Statutory Bonus Instantly
Calculate Salary & Statutory Bonus Instantly
Compute bonuses & understand your tax deductions—with the bonus calculator, everything you need to manage payroll accuracy
Compute bonuses & understand your tax deductions—with the bonus calculator, everything you need to manage payroll accuracy
Disclaimer:This tool is provided to help you generate estimates based on the details you enter. While Razorpay strives to offer reliable and useful outputs, the results may not always be precise or error-free. Razorpay does not guarantee the accuracy of the calculations and cannot be held responsible for any discrepancies, outcomes, or decisions that stem from using this tool. By continuing to use the tool, you acknowledge and accept full responsibility for any results derived from it.
Bonus Calculator
A bonus calculator is an essential online tool for businesses and employees to quickly determine the total bonus payout, statutory bonuses, and tax deducted from bonuses as per Indian payroll laws. This calculator helps users eliminate guesswork, ensure statutory compliance, and plan their finances more effectively.
What is a Bonus Calculator?
A bonus calculator is a digital solution designed to compute various types of employee bonuses—including salary bonuses, statutory bonuses, and tax on bonus payouts—by factoring in salary, performance, applicable percentages, and government mandates. By using a dedicated bonus calculator, both employers and employees can calculate their expected bonus payouts, total tax implications, and net take-home amounts in seconds.
Why Use a Bonus Calculator?
Accuracy
Eliminates manual errors in bonus calculation.
Compliance
Ensures statutory payouts are met under Indian labor laws.
Transparent Tax Planning
Clearly displays tax deducted from bonuses.
Quick Insights
Saves time for HR/payroll teams and employees.
Pre and Post Tax Clarity
Displays gross vs. net bonus after tax.
What Are the Common Types of Bonus?
Salary Bonus: A discretionary or performance-based bonus given in recognition of achievements or hitting business targets.
Statutory Bonus: Mandatory payouts under the Payment of Bonus Act, 1965 for eligible employees (typically earning less than ₹21,000/month), calculated as a percentage of salary.
Festival or Annual Bonus: Often paid as a lump sum during festivals or annually, in addition to regular salary.
Joining/Retention Bonus: Offered to attract or retain talent.
Taxable Bonus: Any bonus amount subject to income tax as per employee's applicable tax slab.
How to Calculate Bonus?
Enter the employee's salary details (basic, DA, monthly/annual salary).
Select the bonus type (statutory, performance, festival, etc.).
Input relevant percentages or amounts.
Apply statutory limits or formulas.
Statutory Bonus: Salary × Bonus Percentage (typically 8.33%–20%), with caps as per the Bonus Act.
Tax on Bonus: Added to the salary; taxed as per applicable income tax slab after standard deductions.
View results: See gross bonus, taxable amount, tax deduction, and net payout.
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