Partner - Risk Management
Rajesh Kumar Dubey
Manager - Hr
You can calculate the Bonus Amount as per declared % by the management.
But you must ensure that its base for Wages Rate shall be minimum wages applicable in your
area / industry but in any case it will not be lower than 7000/- PM.
Hope you will be satisfied with above
31st March 2018 From India
Then you should compute the salary eligible for bonus, but taking actual annual salary, with the ceiling of ₹7000 per month or minimum wages applicable WHICHEVER IS HIGHER
The entire allocable surplus is to be paid as bonus proportionate to wages computed above for each person, subject to minimum 8.33% and maximum of 20%
1st April 2018 From India, Mumbai
As per new amendment
Bonus applicable for employees wage up to Rs.21,000 per month.
The calculation bonus ceiling is Rs.7000 per month or the minimum wage for the scheduled employment, as fixed by the appropriate Government (whichever is higher).
2nd April 2018 From India, Chennai