Bonus Form C query

Priyankasahu · 26-10-2009, 09:00 AM

Dear Friends,

I was calculating the bonus as asked by my senior in form C of bomus act.

Can anyone please help me out with the information that the bonus viz. calculated for managers and supervisors the no. of days worked in a year shall be written as 313 i.e. if all days are taken or as 365 for managers as their number of days worked in a year.

313 was taken for workers who are paid on daily basis. But what about the managers who are paid sundays also.

Please help me out as to what figure has to be written in the no. of days worked in a year.

Regards,
Priyanka Sahu

prashant1314 · 26-10-2009, 09:29 AM

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arihant_ac · 26-10-2009, 12:52 PM

Dear Priyanka Sahu

There is no need of No. of days work in calculating Bonus.

arihant

arihant_ac · 26-10-2009, 12:53 PM

Dear Priyanka Sahu

There is no need of No. of days in calculating Bonus.

arihant

abhinavchandra82 · 26-10-2009, 01:22 PM

Dear Priyanka ,

Bonus can be calculated in following 2 ways......
(1) 8.333 % of Basic Salary....
(2) Basic Salary / No of Months i.e 12 - To get a monthly amount of Bonus as deduction from Salary.

Abhinav Chandra

Neer300182 · 26-10-2009, 01:36 PM

Quote:

Originally Posted by Priyankasahu

Dear Friends,

I was calculating the bonus as asked by my senior in form C of bomus act.

Can anyone please help me out with the information that the bonus viz. calculated for managers and supervisors the no. of days worked in a year shall be written as 313 i.e. if all days are taken or as 365 for managers as their number of days worked in a year.

313 was taken for workers who are paid on daily basis. But what about the managers who are paid sundays also.

Please help me out as to what figure has to be written in the no. of days worked in a year.

Regards,
Priyanka Sahu

Dear Priyanka,

Greetings for the day!!!

Days are alwys considered for measuring the eligibility not for its calculation.
Calculation is done on the basis of Freezed limit which has been decided Under The payment of Bonus Act1965

Priyankasahu · 26-10-2009, 03:43 PM

Dear Kapil Sir,

Greetings to you too.

I have an idea that we do not calculate bonus on the basis of days presents. That is required for the eligibility.

But the Form C of bonus act contains a column which says no. of working days in the year and also no. of days worked in the year.

My confusion is I have made the bonus sheet of workers wherin i took 313 as the no. of working days.

For my staff should i take no. of working days as 313 only or 365 because they are paid for weekly off also and workers are not.

Please guide me for the same.

Regards,
Priyanka Sahu

amrish_vishnu · 26-10-2009, 04:30 PM

Dear kapil ji,

As per as rule and my knowledge if an employee has complicated his 30 days continuing working than he will be eligible for the bonus but what the persent, so please guide me.

i joined my company march 2007 but i haven't received the bonus and my boss told me those employee are not eligible bonus who has not completed his one year service.

I am waiting ur warm regards.

Thanks & Regards

Amrish Singh Raghuwanshi
Mob. 9827071872
Email-

Quote:

Originally Posted by Neer300182

Dear Priyanka,

Greetings for the day!!!

Days are alwys considered for measuring the eligibility not for its calculation.
Calculation is done on the basis of Freezed limit which has been decided Under The payment of Bonus Act1965

raaj_mba · 27-10-2009, 01:46 AM

Hi... How did u arrive 313 days? U need not take N&F holidays... U should mention company working days only... If worked days, u take worked days of a employee... Should not take no. Of days paid... Regards, Rajesh Kumar. K

S.Chandrasekar · 27-10-2009, 07:24 AM

Dear Priya,

Yearly Bonus = Actual (Basic +DA) for that year of an individual employee*8.33%

If the employee worked in that year for more than 30 days and less than 1 year; then it is =(Basic+ DA)*8.33%*No. of working days/ Days worked by employee. For those who did not complete a year of service, it is the management's prerogative to pay Ex-gratia on pro-rata.

For caluclation, LOP days matter a lot, i.e., bonus is only for the actual working days in that year. Say, if he has not suffered LOP in a year then 365-12 (Fest/holidays) = 353. The number of holidays may vary among companies.

From where did you arrive at 313 days? All CL, SL, PL are paid days and shall not be figured under LOP. Anyways have a second opinion.

Regards,
Chandru
Consultant