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Hi What exactly you want to know? You want to know about Allocable surplus and Available surplus? or you want to know about how to calculate bonus after declaring the percentage? Siva
From India, Chennai
From India, Chennai
For example employee is having 10000-Basic salary & he work in a year around 250 days then according to 8.33percentage what would be a bonus amount
From India, Pune
From India, Pune
Hi
It is not calculated on the number of days worked
It is calculated on the wages earned
I will give example for your question.
Wages Basic per month Rs 10000/
Worked days 250
Assume he has availed paid leav 13
Paid Holidays 7
Total wages earned days 270 days
That is equivalent to 9 months
Total Basic wages earned Rs 90000/
8.33% Bonus 8.33*90000/100 Rs 7497/-
This is the basic priciple.
In an accounting year, sum the persons wages earned.(Including paid leave) Apply the percentage on this amount.
I hope I am clarifying.
Siva
From India, Chennai
It is not calculated on the number of days worked
It is calculated on the wages earned
I will give example for your question.
Wages Basic per month Rs 10000/
Worked days 250
Assume he has availed paid leav 13
Paid Holidays 7
Total wages earned days 270 days
That is equivalent to 9 months
Total Basic wages earned Rs 90000/
8.33% Bonus 8.33*90000/100 Rs 7497/-
This is the basic priciple.
In an accounting year, sum the persons wages earned.(Including paid leave) Apply the percentage on this amount.
I hope I am clarifying.
Siva
From India, Chennai
Hi Sorry There was a mistake. His wages Rs 10000/ Bonusable Wage under the Act Rs 3500 He earns salary for 9 Months 9*3500 = Rs 31500 8.33% Bonus Rs 2623.95 paise Siva
From India, Chennai
From India, Chennai
HIIIIIIIII Siva!!!!!!1 :lol:
Well Thanks a lot for expalining the calculation of Bonus so nicely and clearly now u have clarified my doubt But I have doubt with regard to calculation of allocable surplus, available surplus, seton and Setoff etc. So can u pls explain me all these things with the help of a Example. Pls explain with example as u have done earlier.
Thanks
Wating 4 ur reply.
Warm Regards
Akshita
From India, Chandigarh
Well Thanks a lot for expalining the calculation of Bonus so nicely and clearly now u have clarified my doubt But I have doubt with regard to calculation of allocable surplus, available surplus, seton and Setoff etc. So can u pls explain me all these things with the help of a Example. Pls explain with example as u have done earlier.
Thanks
Wating 4 ur reply.
Warm Regards
Akshita
From India, Chandigarh
His calculation will be made @ 8.33% of maximum calculable amount of Rs.3500/-. He will be entitled for bonus only when his basic plus DA is less than Rs.10000/-. Even when his basic plus DA is Rs.3501/- or say Rs.3600/- calculation will be made on Rs.3500/-. In case is basic plus DA is less than 3500/- his calculation will be made on actual basic plus DA.
From India, Calcutta
From India, Calcutta
Hi It is a big subject and I need to refresh It will take a few days I will soon give a simple example for available surplus and allocable surplus Bear with me for a wekk Siva
From India, Chennai
From India, Chennai
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