Dear Seniors, I want to know about bonus rule /act, and calculation method. can any one provide current bonus rule, eligibility, calculation. Regards Mukesh Singh
From India, New Delhi
9From India, New Delhi
Dear Mukesh,
Eligibility ; He /she has to work min 30 physical working days in an accounting year.
Calculation Example:
If salary is 7500/- per month
Basic : 2000 per month
DA : 1500 per month
HRA : 4000 per month
Basic + DA : (2000+1500)*8.33%*12months = 3500 per Annam (Min Bonus)
Basic + DA : (2000+1500)*20%*12months = 8400 per Annam (Max Bonus)
Bonus payment should not less than Min Bonus.
For Rules you have to go through the Payment of Bonus Act 1965
From India, Rajamahendri
Eligibility ; He /she has to work min 30 physical working days in an accounting year.
Calculation Example:
If salary is 7500/- per month
Basic : 2000 per month
DA : 1500 per month
HRA : 4000 per month
Basic + DA : (2000+1500)*8.33%*12months = 3500 per Annam (Min Bonus)
Basic + DA : (2000+1500)*20%*12months = 8400 per Annam (Max Bonus)
Bonus payment should not less than Min Bonus.
For Rules you have to go through the Payment of Bonus Act 1965
From India, Rajamahendri
Thanks Mr. Vinay M. I have another one question. whom is not eligible for bonus from salary point of view. like if any one salary in 25000/- ( Basic 15000, Hra 7500, DA 2500/- )
From India, New Delhi
From India, New Delhi
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf