How To Calculate Your Quarterly Premium

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How To Calculate Your Quarterly Premium
How To Calculate Your Quarterly Premium

Video: How To Calculate Your Quarterly Premium

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Video: How to Calculate Your RPLI Premium - Monthly-Quarterly-Half Yearly u0026 Yearly with Bonus? 2023, January
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According to labor law, an enterprise can establish incentive and incentive payments for a month, quarter and year. All bonus payments must be reflected in the labor and collective agreement, as well as in the bonus regulation, which is an internal legal act of the enterprise.

How to calculate your quarterly premium
How to calculate your quarterly premium

It is necessary

  • - order;
  • - notification;
  • - calculator or program "1C".

Instructions

Step 1

If the performance indicators for the quarter are successful, then the head of the enterprise decides on the payment of the quarterly bonus. It can be paid to a separate structural unit that has achieved high performance, to one employee, or to everyone working at the enterprise. If the payment of the quarterly bonus is specified in the collective agreement, and not only in the provision on bonuses, then its payment should be made to all employees (Article 191 of the Labor Code of the Russian Federation).

Step 2

The manager has the right to decide to pay the bonus for the quarter in a fixed amount or as a percentage of wages (Articles 22, 144, 191 of the Labor Code of the Russian Federation).

Step 3

The manager is obliged to issue an order for the payment of the bonus for the quarter and submit a notification to the accounting department with a list of employees or employee. If the order states that the bonus is paid in a fixed amount to all employees, then the accounting department is obliged to calculate the quarterly bonus, adding it to the salary for the current month.

Step 4

If the order states that the quarterly bonus is paid as a percentage of the amount of the salary of each employee, then the calculation is carried out individually for each employee.

Step 5

If the employee has worked all days in the billing period, then add up all the amounts earned, taking into account the monthly bonuses, and divide by three. From the average earnings for the billing period, calculate the percentage of the quarterly bonus.

Step 6

The quarterly bonus is included in the amount of income, so subtract 13% from the income tax.

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