Payroll & Statutory Compliance
Executive Accounts
+1 Other

Thread Started by #madhubabu51

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
1st September 2017 From India, Visakhapatnam
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.
1st September 2017 From India, Pune
The paid basic & DA will have to be considered for calculating statutory bonus. That means leave is included.
4th September 2017 From India, Mumbai
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/-.
6th September 2017 From India, Madras
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