Dear All, What is the min & max limit of bonus and bonus is calculated whether on gross or basic salary. Regards Irfan
From India, Delhi
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2From India, Delhi
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Dear Irfan,
If the basic salary plus dearness allowance (DA) of an individual is less than 10k per month, he is entitled to get a bonus as per the Bonus Act. Bonus calculation is done based on 3500, meaning we will presume that the individual is receiving 3500 per month. The minimum bonus is 8.33%, which amounts to 300, and the maximum bonus is 20%, which amounts to 8400. The bonus is calculated on basic salary plus DA.
Thank you,
J. S. Malik
From India, Delhi
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If the basic salary plus dearness allowance (DA) of an individual is less than 10k per month, he is entitled to get a bonus as per the Bonus Act. Bonus calculation is done based on 3500, meaning we will presume that the individual is receiving 3500 per month. The minimum bonus is 8.33%, which amounts to 300, and the maximum bonus is 20%, which amounts to 8400. The bonus is calculated on basic salary plus DA.
Thank you,
J. S. Malik
From India, Delhi
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