Hi friend,
as per Bonus act ..
1. employee who earned monthly Basic + DA 10,000/- and below are
eligible for bonus.
2. Bonus calculation should be for financial year only.
3. Employee who works minimum 30 working days in the financial year
are eligible for bonus.
I will try to explain this with an example.
Mr. A 's salary is Rs.5000/- (Basic + DA) per month.
His earned basic+DA for the year 2006-07 is Rs. 60000/-
Then he is eligible for bonus of Rs. (60000 X 8.33%) = 4998/- only
U can understand this act through the act from the following links.
http://www.citehr.com/download.php?id=4340 http://www.citehr.com/download.php?id=8143 http://www.citehr.com/download.php?id=18465
Regards,
GrHrm.
