#query{background:#fafff0;color:#4f4f4f;letter-spacing:1px;padding:5px;border:1px #001b31 solid;text-indent:3%;font-size:small} form#search_query{color:#fdfcfb;text-align:left;margin:0}
Stephen_7
Senior Officer - Hr
Malikjs
Gm (hr)
+2 Others

Dear Esteemed Members,
Needed clarification on Bonus Calculation.How it is calculated for employee getting basic salary above 3500 and for employee getting basic salary above 7000.
Is it compulsory for all companies to give bonus to all its employees on annual basis.

From India, Patna
Hi,
As per new amendment of bonus act in 2015, govt increased the minimum bonus payment from existing 3500 to Rs. 7000/- or minimum wages which ever is higher. So you need to calculate the bonus for the minimum wages of 7000/-
Eligibility limit is increased from existing 10k to 21k per month. So it covers most of the employees in a company.
It is a practice that most of the companies are practicing in calculating bonus on Basic + DA which is seen as a statutory wage.

From India, Chennai
Dear calculation of bonus to be done on presuming rupees 7000/- or minimum wages of the state whichever is higher.For Eligibility limit is raised from 10k per month 21 k per month
From India, Delhi
Good Morning!
Calculation of bonus to be done on presuming rupees 7000/- or minimum wages of the state respective to the category of employees in which they fall which ever is higher.Eligibility limit is raised from 10K per month to 21K per month.
e.g.
1.Unskilled worker
Basic =6800
Minimum wage=7000
Then bonus will be calculated on 7000/-
2. Semi skilled worker
Basic =7500
Minimum wage =7400
Then bonus will be calculated on 7500/-
3. Highly skilled worker
Basic =8000
Minimum wage=8400
bonus will be calculated on 8400/-
These are examples only please correct if I am wrong.
Regards,
Shailza

From India, Bathinda
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.