SQL & PL/SQL :: Employee Table To Assign Grade For Each Employee Based On His Salary

based on the following information

grade lowsal highsal
------ ----- ------
1 700 1200
2 1201 1400
3 1401 2000
4 2001 3000
5 3001 9999

for the employee table to assign grade for each employee based on his salary the following plsql procedure is giving error:

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CREATE OR REPLACE PROCEDURE GRADE(EID IN NUMBER,BONUS OUT NUMBER) IS

vGRADE NUMBER(8,2);
vSAL NUMBER(8,2);

BEGIN
vGRADE=1
SELECT SAL INTO vSAL FROM EMP WHERE EMPNO=EMPID;
IF vSAL<= 700 THEN
vGRADE:=1;
ELSEIF vSAL<= 1201 THEN
[code]....