Dear Sirs,
I came to know that an employee who has drawn Rs. 10,000 and below (Basic+DA) is eligible for a bonus as per the act. But if an employee's Basic+DA is revised in the middle of the year, for example, from Rs. 9,000 to Rs. 11,000, is he eligible for the bonus or not? If yes, how do we calculate the bonus?
Thank you.
From India, Mumbai
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I came to know that an employee who has drawn Rs. 10,000 and below (Basic+DA) is eligible for a bonus as per the act. But if an employee's Basic+DA is revised in the middle of the year, for example, from Rs. 9,000 to Rs. 11,000, is he eligible for the bonus or not? If yes, how do we calculate the bonus?
Thank you.
From India, Mumbai
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Dear Advaithi,
The bonus is statutory until the employee draws a salary above Rs. 10,000. For example, in a financial year, if the salary is Rs. 10,000 or below for 6 months and above Rs. 10,000 for the remaining 6 months, the statutory eligibility is 50% of the total year.
Abbas.P.S
From India, Bangalore
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530The bonus is statutory until the employee draws a salary above Rs. 10,000. For example, in a financial year, if the salary is Rs. 10,000 or below for 6 months and above Rs. 10,000 for the remaining 6 months, the statutory eligibility is 50% of the total year.
Abbas.P.S
From India, Bangalore
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Bonus Calculation.xls
Kerala Minimum Wages Notification Basic General Revised 2016 (2).pdf