Project Bonus Policy

Project Bonus Policy

1st April 2016

The information contained herein is proprietary to GyanSys Infotech and must not be disclosed to non-
GyanSys personnel. The recipient of this document, by its retention and use, agrees to protect the
information contained herein.
DO NOT DISCLOSE ANY OF THIS INFORMATION WITHOUT OBTAINING PERMISSION FROM THE
MANAGEMENT.

REVISION HISTORY
Date Version Changes
Oct 04th, 2012 Version 1.0
Streamlined process for
May 17th, 2016 Version 2.0
Utilization and Overtime

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 Project Bonus Policy

1.0 Objective

This document is to set the guidelines to reward Full Time Employees at GyanSys who contributes to
companys growth. This will be a motivation factor and not a standard policy to meet the organisational
Goals.

2.0 Scope

This is applicable for all Full time employees of GyanSys who are engaged in different activities at
GyanSys Office or at Client locations and covers the below scenarios:

Extra hours worked on any billable Projects

Pre-sales Efforts
KPIs based on completion of specific tasks and objectives

There are two bonus components that are covered under this policy.

1. Utilization Bonus: This is a component in Employees Salary structure and is paid on achieving
certain billing targets every quarter/year.
2. Overtime Bonus: This is paid in addition to regular salary for contribution from employees in
generating additional direct revenue for the company.

3.0 Time Tracking

a) Every employee must enter minimum 40 hours every week in our timesheet system
b) Time can be entered in various buckets Billable Projects, Pre-Sales, Practice Support.
c) Activity Code needs to be entered correctly at each line item level and can include Non-
Billable activities under Projects as well
d) It is the Employees individual responsibility to get clarity on the additional Project/extra
hours that he/she will be assigned to and eligible to enter time on from Account
Manager/Project Manager/Delivery Manager.
e) Employees may contact their respective Account Manager/Project Manager/Delivery
Manager for any discrepancies along with HR team for any clarifications.
f) The scope and implementation of this document is at the discretion of the Management.
g) Employee must inform Account Manager/Project Manager if actual hours spent on a
project/task are in excess of budgeted hrs for any week/period. Account Manager/Project
Manager can talk to client on course correction. If this issue is not resolved, then this needs
to be immediately escalated to Delivery Manager and Finance for action.
h) If employee has resigned and is serving notice period, they are eligible for Bonuses for
quarter prior to their relieving date. Bonus will not be considered for Partial Quarter E.g. If
an employee has resigned in Jan-March quarter and their relieving date falls in Apr-Jun
quarter, they will be eligible for bonus only for Jan-March quarter.

4.0 Utilization Bonus Calculation

Below is the pay-out consideration of Utilization Bonus based on the quarterly utilization of each
employee.

Utilization % achieved in a quarter Pay-out Percentage

>75% utilization 100% of Utilization Bonus defined
50-75% Utilization 75% of Utilization Bonus defined
25-50% Utilization 50% of Utilization Bonus defined
0-25% Utilization Prorated percentage of the utilization bonus defined

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 Project Bonus Policy

For trainees/freshers: If trainees/freshers are working on client projects prior to confirmation, they will
eligible for additional bonus of 10% of CTC in proportion to their approved hours for any quarter.

5.0 Overtime Bonus Calculation

a) Employees will be eligible for Overtime bonus if billable hours/days are in excess of
available billing hours for that Quarter. E.g. If there are 480 billable hours in a quarter and
employee has billed 500 total hours in that quarter projects, then they are eligible for 20
hours overtime bonus.
b) Pre Sales 50% of employees approved pre-sales hours will be considered towards
utilization/overtime bonus. Time will be approved by Account Managers. There must be a
unique Project created for each Pre-Sales Opportunity/Pursuit.
c) Practice Support No Utilization/Overtime Bonus will be eligible however this will form part
of each employees KPI and Annual Appraisal Process. This will include activities like
Candidate Interviews, Internal Projects/Demos, Trainings
d) Vacations, Time offs, Comp Offs, Holidays (GyanSys or client), Bench will not be
considered towards calculation of Utilization/Overtime Bonus.
e) Eligibility is based on total hours for any given quarter. If employee works overtime in one
or two months during a quarter, they would still be paid overtime for only for hours in excess
of 480 for that quarter.
f) The 4 quarters for consideration are Jan-March, Apr-Jun, July-Sep and Oct-Dec.

5.0 Project Bonus Start date

The Revised Project Bonus guidelines at GyanSys will be effective w.e.f. April 1st 2016.

6.0 Project Bonus Pay-out and Payroll Processing

Overtime Bonus will be calculated on Quarterly basis and will be credited in the 2nd month payroll. For
example, project bonus for the Jan-March Quarter would be announced by May 15th and paid as part
of May Payroll i.e. by June 1st. Hence employees can raise any concerns if they feel the bonus
calculation is not correct. Below is the bonus notification and payment schedule.

Bonus Type Eligible Quarter Amount Payment date

Notification
Q1 bonus Jan-Mar May 15th May 31st
Q2 bonus Apr-Jun Aug 15th Aug 31st
Q3 bonus July-Sep Nov 15th Nov 30th
Q4 bonus Oct-Nov Feb 15th Feb 28th

The approved time sheet should be reflected in Replicon for Bonus Calculation.