Rkjain29
Manager - Employee Relation
Shyamali
Human Resources Director
Sree_rangaraj
Hr Executive
+1 Other

Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Hi! Can someone kindly help me with the calculation of the Allocable surplus, Set Off and Set On under THE PAYMENT OF BONUS ACT. Do kindly explain with examples. Regards, Shyamali
From India, Nasik
Dear Shrami,
As per the bonus act first we need to calculate available/Allocable Surplus Based on financial sheet u arived in your concern (from A & fom B)
Calculation:
Available Surplus =Net Profit-Direct/Indirect Tax payable by the employer Tax Payable.
Allocable Surples=60% of Available Surplus,
in case of Forigen Companies its 67% of Available Surples.
For calculating amount of bonus in respect of Accounting Year Allocable Surplus is computed after considering the amount of Set ON & Set OFF from the pervious year
The amount so computed from Allocable Surples is distubruted in proportionate to Wages/Salaries received by them during Accounting Year
mIn:8.33% and Max 20% has to be paid.
Eliglibity:Drawing Salaries from 2500 to 3500, will be paid on the bases of Rs.2500/-
still ur not clear get back to me.
Regards
Rangaraj

From Canada, Toronto
please qote an example for the set off & set on calculation for payment of bonus regards rejimon
From India, Bangalore
The eligibility for the bonus is now Rs. 10,000/- per month however, the calculation/computation will be on 3500/- per month.
From India, Calcutta
Is there any excel formulae derived as per the guidelines to facilitate the same? Pankaj sibal
From India, New Delhi
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2020 Cite.Co™