Bonus calculation - calculated on actual no. of working days or including CL, EL, Sl - CiteHR
Payroll & Statutory Compliance
Executive Accounts
+1 Other

Cite.Co is a repository of information created by your industry peers and experienced seniors sharing their experience and insights.
Join Us and help by adding your inputs. Contributions From Other Members Follow Below...
Dear All,
Please give me a clarification for Bonus Calculation, it should be calculated on actual no. of working days or including CL, EL, Sl.
Kindly give a brief description on this please.
With Regards,
A.Madhu Babu

Only LOSS of pay days should be deducted per month for Calculation of Bonus. Rest every day need to be considered for the calculation of bonus.
The paid basic & DA will have to be considered for calculating statutory bonus. That means leave is included.
As you are aware the revised bonus basic ( basic & DA) is Rs.21000/- and the revised minimum bonus has been increased from Rs.3500/- to 7000/-.
The calculation has to be done on the number of days the employee present. In case an employee has loss of pay in any month, the bonus basic will get reduced accordingly.
Basic & DA in a particular month = Rs.21000/-
Bonus Basic for the month is Rs.7000/-
In case employee has 5 days loss of pay in a particular month in which calender day is 30. Then bonus basic would be =7000/30*25=6250/-.
Otherwise, his bonus basic would be Rs.7000/-.

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.

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2020 Cite.Co™