Dear All,
In FY 2015-16, one of our employees worked for 356 days out of a total of 365, taking 9 days of leave. The distribution of the leaves was 2 in May, 3 in July, 1 in November, 2 in January, and 1 in March. However, our state minimum wages for the period from April to September were 7134/-, and from October to March 2016, they were 7460/-. The employee's basic salary is 8000 per month. Please let me know how much bonus will be payable to this employee.
Thanks,
Kankit Kumar
From India, Jodhpur
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4In FY 2015-16, one of our employees worked for 356 days out of a total of 365, taking 9 days of leave. The distribution of the leaves was 2 in May, 3 in July, 1 in November, 2 in January, and 1 in March. However, our state minimum wages for the period from April to September were 7134/-, and from October to March 2016, they were 7460/-. The employee's basic salary is 8000 per month. Please let me know how much bonus will be payable to this employee.
Thanks,
Kankit Kumar
From India, Jodhpur
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Dear Kankit Kumar, He will Rs. 7803/- as bonus for the FY 2015-16.
From United Arab Emirates, Dubai
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From United Arab Emirates, Dubai
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Dear joshi sir. Can you pls bifurcate the calculation that How he is entitled for 7803/- bonus.
From India, Jodhpur
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From India, Jodhpur
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Dear Joshi Sir,
Weather bonus will be calculated on 7000 or on the state minimum wages or on 8000/-. As per Section 12, the bonus will be calculated either on the 7000 ceiling limit or on the minimum wages for scheduled employees, whichever is higher. Hence, the bonus should be calculated on the state minimum wages, which is higher than 7000.
Your views, please.
From India, Jodhpur
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Weather bonus will be calculated on 7000 or on the state minimum wages or on 8000/-. As per Section 12, the bonus will be calculated either on the 7000 ceiling limit or on the minimum wages for scheduled employees, whichever is higher. Hence, the bonus should be calculated on the state minimum wages, which is higher than 7000.
Your views, please.
From India, Jodhpur
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Dear Sandeep Ji Please let us more clear on the concept of bonus calculation ceiling, i.e. Rs. 7000.
From India, Mumbai
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From India, Mumbai
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Mr. Sandi Joshi is Correct. The salary has to be worked out proportionately and accordingly the Bonus will also reduced based on working days
From India, Mumbai
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From India, Mumbai
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Bonus Calculation Guidance for 2015-2016
Can you guide us on bonus calculation for the year 2015-2016? As per the new amendment, the bonus ceiling is Rs. 7000/-.
Our questions are:
a) If a person is getting Rs. 8500 per month, how much amount should be considered for the bonus calculation?
b) If a person is getting Rs. 6500 per month, which amount should be considered for the purpose of bonus calculation?
The minimum wages in our zone for the period are as follows:
- Jan 2015 to June 2015: Rs. 7988/- per month
- July 2015 to Dec 2015: Rs. 8128/- per month
- Jan 2016 to June 2016: Rs. 8464/- per month
Another question we have is, if a person is irregular in attendance, i.e., absent for 2 or 3 days every month, how should we calculate the bonus?
Thank you.
From India, Thane
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Can you guide us on bonus calculation for the year 2015-2016? As per the new amendment, the bonus ceiling is Rs. 7000/-.
Our questions are:
a) If a person is getting Rs. 8500 per month, how much amount should be considered for the bonus calculation?
b) If a person is getting Rs. 6500 per month, which amount should be considered for the purpose of bonus calculation?
The minimum wages in our zone for the period are as follows:
- Jan 2015 to June 2015: Rs. 7988/- per month
- July 2015 to Dec 2015: Rs. 8128/- per month
- Jan 2016 to June 2016: Rs. 8464/- per month
Another question we have is, if a person is irregular in attendance, i.e., absent for 2 or 3 days every month, how should we calculate the bonus?
Thank you.
From India, Thane
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SALARY CAN BE SPLIT INTO COMPONENTS BUT NOT LESS THAN THE MINIMUM WAGES.docx