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Dear AMTGPT
I am fully agreed to your submissions and have given this interpretation in these threads so many times but few contributors are narrating it in their own ways which is contrary to the meanings of amendment.
P K Sharma
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Employee who has worked for less than 30 days in FY is not entitled to receive bonus.
Employee who has worked for 30 or more days in FY is entitled to receive bonus.
I think this is my third post on same query and still my understanding is that if basic + da is less then 7000/- then bonus will calculate on 7000/-whichever is higher to calculate bonus .And pl understand the meaning of whichever is higher either 7000/- or state minimum wage .
Thanks to all
If you deliberately chose to ignore what the act actually says, then no amount of posts on this thread will make any difference.
Then calculate that month bonus as here
{7000/month day x working day} x bonus %
for example if working day 20 and month is january and bonus % is 8.33
then
7000/31x20=4516 bonus calculation wage
and bonus is = 4516 x 8.33%=376/-
The calculations of bonus is made on earned wage which includes weekly offs and holidays as well. As such it is pay days not actual working days for making calculations. Actual working days are calculated for checking 30 days working qualification purpose.
P K Sharma
Actual Calculation Bonus 7000 or 8.33% and paid bonus working days (26) or Actual working (30) please give details
THE PAYMENT OF BONUS ACT, 1965 - FAQ
Is an employee entitled to get bonus on the basis of his entire salary or wage?
If an employee is drawing a salary or wage not exceeding3500.00 per month, he is entitled to get bonus on his entire salary or wage.
If an employee is getting a salary or wage exceeding3500.00 per month, but not exceeding 10000.00 per month, the bonus payable to him is to be calculated as if his salary or wage were3500.00 per month. An employee getting a salary or wage exceeding10000.00 per month is not entitled to get bonus. {Section 12}
Regards
Narendra
Dear Sir,
How can we calculate bonus working days from financial year 2018-19. Please give an example.
Amit Gaur
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