MiVeda Compensation Plan
There are two ways to generate commissions.
Referred Sales commissions – you provide products to people who want to purchase the MiVeda products you recommend. The commission payment is 20% on all products you purchase and then sell. You are also able to charge the MRP which is about (on average) 30% higher than the price you purchase the products for. You cannot be involved with Team Leadership commissions but would be considered to be a Referring Sales Agent.
Team Leadership commissions – you develop a team of: Team Leaders, Referring Sales Agents or home purchase clients. Commissions are paid as outlined in the MiVeda website (below). The possible commissions range from 24% to 3% over 6 levels, PLUS a possible share of a 10% pool of total monthly company sales volume. Other commissions also apply (Car, House, Leadership Development and Leadership Consistency bonuses).
Double Commisions - as a special incentive, we pay a double commission on first orders of front line if the order is placed in the initial month of registration and Rs 4,000 or more in value. So you can get 24% on the first order of your front line! However this special incentive does not apply to first orders of "Direct Sellers". Further, to receive this double commission, a distributor must supply the respective details to MiVeda office via email detailing name and MiVeda ID of new distributor, when they joined and when their first order was placed. Email firstname.lastname@example.org these details.
MiVeda’s Compensation Plan currency is country specific. This allows distributors around the world to be paid in their respective currency even though purchases may have been made in a different country.
This could include individuals purchasing products not available in India. There could also be cases where a distributor sponsors downline who live in a different country (eg Australia) and who consequently purchase products there. To cater for this, MiVeda provides "seamless" commissions to distributors around the world via international "currency conversion" or Credit Value points.
By using Credit Value points (CV), MiVeda can determine the value (percentage) of commissions that a Distributor will be paid in the relevant currency of a particular country. Monthly sales CV totals will qualify a distributor at the appropriate level. The CV ratio is the highest in the industry (eg: in India, 1 CV = 1 Rupee).
The CV of each product can be seen in the Shopping Cart when you order products (via the Member’s Area). CV is only used to calculate the qualification levels for each distributor. These levels are set very generously to make it as easy as possible for each distributor to qualify at the highest possible level.
The table for “seamless” commissions is shown below. The payment ratio is 1 to 1 (in other words, percentages are paid on the total purchase price of each product - excluding taxes).
|Distributor Status||Bronze||Silver||Gold||Emerald||Diamond||Executive Diamond||Super Diamond|
|Number of Teams or Legs required||1||2||3||4||5||6||7|
|Minimum Team or Leg Volume Per Month (CV=INR)||25,000||35,000||45,000||80,000||80,000||1,20,000|
|Minimum Organisation (Total Group) Volume per Month (CV=INR)||60,000||2 Lacs||4 Lacs||20 Lacs||30 Lacs||50 Lacs|
|Payment Levels (under the respective distributor) - payment is the percentage shown of the total sales at each level|
|Executive Diamond Bonus||2%||2%|
|Super Diamond Bonus ***||3%|
|Retail Bonus **||3%||3%||3%||3%||3%||3%||3%|
** Shared between all distributors who have a personal volume of more than 1 Lac per month (limited to 3 Lacs per month for each distributorship)
*** Split into a 1% automatic bonus and a 2% discretionary bonus (see Pooled Bonus Explanation)
Download a copy of The MiVeda Compensation Plan - (India)