Please share the your knowledge about statutory bonus because I want to know how to calculate the statutory bonus as per the compliance norms.
For example :
Please find the CTC structure of XYZ employee so how much amount will be come in to “STA BONUS” ???
Also please refer the attached sheet for your reference.
Basic - 15000
HRA - 750
Con - 1600
Medi - 1250
Sta Bonus - ????????
Other - 500
Gross Salary = 19100
PF Employer - 1800
PF Admin - 75
EDLI - 75
ESIC - 907
Total Ded - 2897
PF Employee - 1800
ESIC Employee - 334
PT - 200
Total Ded - 2334
Net = 16766
CTC - 21957

From India, Mumbai

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Hello Everyone,
Please consider the Maharashtra state for bonus calculation and for skilled category minimum wages is 9445/- (Including of BASIC + DA)
Please find the minimum wages rates for category wise :
Skilled - 9445/-
Semi Skilled - 9045/-
Unskilled - 8645/-
Thank You

From India, Mumbai
Dear Vikas
Whether the said employee was eligible to receive the statutory bonus under payment of Bonus act? If he draws less than Rs.21000/month and has worked for minimum 30 days in the financial year.
The minimum statutory bonus would be Rs. 7000 or min wages (9445) whichever is higher. Lets us say min wages in your region is Rs.9445, in this case min. bonus shall be Rs. 9445/-. The Bonus calculation will be on actual attendance (pro rata) basis. Here all authorized leaves, offs and holidays are to be considered as presence only unauthorized absence against which wages has been deducted will be considered as absence.
Lets us the for the period 1st April to 31 March the employee has full attendance. Assuming your company has declared min. bonus i.e. 8.33%.
363.27 (per day min wage)X312 (present days)= 113978.6@8.33%=Rs.9442
Hope this helps
Shailesh Parikh
99 98 97 10 65

From India, Mumbai
Dear Vikash,
Mr. Shailesh Parekh has explained how to calculate the individual statutory bonus. But statutory bonus is determined first on the basis of Schedule-I or II (as applicable) of Payment of Bonus Act to arrive at available surplus and then allocable surplus. Statutory bonus may vary between 8.33% to 20%. If there is any "set on" or ""set off"" that will also be required to consider to determine the % of bonus finally to be declared by any organization. The final bonus may be any thing between 8.33% to 20%.
After determine the % of bonus of the organization, then determine the individual amount.
Thanks & Regards,
S K Bandyopadhyay(Howrah,WB)

From India, New Delhi
Dear Shailesh Sir, How have you derive 312 present days? If 1st April to 31 March the employee has full attendance. Reards,
From India, Mumbai
Hi Azim,
Always minimum wages (per day) calculate on 26 days of each month (after remove the days).
Remove the all the Sunday from 1st April 2018 to 31 March 2019. So today Sunday are 53 in between April 2018 to March 2019.
Hope you are understand.
Thank You
Vikas Senghani

From India, Mumbai
Dear Vikas Sir, Thanks for the reply, I am obliged. Regards,
From India, Mumbai
Please define the calculation of payable percentage as per shedule II of Bonus act in simple layman’s form. What to be added and deducted from net profit of the firm to arrive allocable surplus
From India, New Delhi
Good Morning!!!
One of our high skilled employee is eligible for the payment of Bonus for the year 2018-19
His Gross Salary is Rs. 14369/-
Basic is Rs. 8643/-
And Minimum wages fixed by H.P. Govt. is Rs. 9,885/-
What will the minimum and maximum payable bonus to the employee?

From India, Vijayawada
Minimum Bonus @8.33% will be 9885/- and maximum Bonus @20% will be (9885 * 12) *0.2 = 23,724/-. S K Bandyopadhyay ( WB, Howrah) +91 98310 81531
From India, New Delhi

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