What is a Statutory Bonus?
Statutory bonuses are any bonuses prescribed by the state to all working individuals.
How are the Statutory Bonuses in Malta allocated?
Under Maltese legislature, there are 4 total bonuses in a year, allocated as follows:
End of June bonus: €135.10
End of December bonus: €135.10
End of March bonus: €121.16
End of September bonus: €121.16
More information can be found on the Department of Industrial & Employment Relations here: https://dier.gov.mt/en/Employment-Conditions/Wages/Pages/Bonus-and-Weekly-Allowances.aspx
Bonuses can be calculated pro-rata, depending on the hours worked by the employee.
Note: Before creating a statutory bonus, a pay item must be created.
Adding a new Statutory Bonus
To create a new statutory bonus, go to Payroll > Payroll Setup > Statutory Bonuses.
Click Insert and populate the following fields:
Description: A short description of the bonus.
Amount: The full bonus amount.
Date from: Start of the bonus period.
Date to: End of the bonus period.
Trigger date: Date bonus is payable on.
Deduct unpaid leave: Exclude unpaid leave from total hours worked. This should be always be ticked when awarding bonuses prescribed under Maltese legislature.
Bonus pay item:: The Pay Item this bonus is linked to.
Bonus pay item description: A description of the pay item.
Editing an existing Statutory Bonus
To edit an existing statutory bonus, highlight the bonus by clicking once on the respective row and click the Edit button.
Deleting an existing Statutory Bonus
To delete an existing statutory bonus highlight the bonus and click on Delete.