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patricia
3

can u pleaze give me the criteria that i should follow to give end of year bonus:)
From Lebanon, Beirut
promila
3

Hi , Minimum bonus has to be given 8.33%of you basic salary.Rest is upto the employeer,how much he wants to give.It can be based on %age of net profit...soon and so fourt. Thanx N Regards Promial
From India, Delhi
shwetareddy23
hi,

if i may add to wat promila said..

i assume (as is the case often) that u are referring to bonus paid on the profits made by the org.

as per the bonus act, a minimum of 8.33 % of basic has to b paid as bonus and is subject to a max of 20%.

but whn u calculate the bonus, u should be considering the alocable surplus and available surplus coz bonus is paid as a reward for performance.

allocable surplus is the gross profits minus the tax, depreciation, devlopment allowance etc

available surplus is

67% of allocable suplus for companies tht havent made provisions for tax under I-T act

60% of allocable surplus for others

now if u'r available surplus is such that u can pay more than 8.33 % as bonus u should accordingly pay more.

if u'r available surplus is less than wat u need for 8.33%, u still hav to pay 8.33 % of Basic but this can be set off for the next yr and so on so forth for upto 4 years.

if available surplus is more than wat u need to pay 20% as bonus, then the remaining surplus is set on to the next yr n so on so forth for 4 years.

if i hav siad anythng wrong..plz do correct it n add anythng i hav missed out

regards,

shweta challa


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