Dear, Please confirm the salary components for calculation of Bonus is it Gross Salary or only on Basis +DA.? What does one conisder in case of no Da Regards Roshni
From India, Thana
From India, Thana
Dear Roshni,
For bonus calculation purposes you may go through section 2(21) of the Payment of Bonus act, 1965 for salary or Wage definition. When there is no DA then bonus is to be calculated on Basic salary only. In brief we are to consider Basic wage, D A & food allowance or value of free food, if provided by the employer for calculation of Bonus payment.
Regards,
R.N.Khola
From India, Delhi
363For bonus calculation purposes you may go through section 2(21) of the Payment of Bonus act, 1965 for salary or Wage definition. When there is no DA then bonus is to be calculated on Basic salary only. In brief we are to consider Basic wage, D A & food allowance or value of free food, if provided by the employer for calculation of Bonus payment.
Regards,
R.N.Khola
From India, Delhi
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SALARY SHEET CALCULATION.xls
Salary calculation.doc