Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Hello,
I have few query regarding payment of Bonus, like:-
a) Is it mandatory to calculate bonus on the basis of Company's profit??
b) On what basis company should decide the calculation percentage out of 8.33% to 20%
Request you all to please clear the doubts, I will be highly obliged.
Thank you.
I have few query regarding payment of Bonus, like:-
a) Is it mandatory to calculate bonus on the basis of Company's profit??
b) On what basis company should decide the calculation percentage out of 8.33% to 20%
Request you all to please clear the doubts, I will be highly obliged.
Thank you.
Payment f Bonus Act is absolutely clear about Calculation of Bonus and it will determine the % of Bonus. Yes as per Bonus Act the calculation starts from Gross Profit to arrive at available surplus and then allocable surplus along with % of Bonus pay out.
There is also provisions for "Set on"and "SET OFF". Please talk to your finance team for better understanding of the same. It is always better to have audit of the Bonus calculation by authorised Auditor.
S. K. Bandyopadhyay ( Howrah, WB)
+91 98310 81531
There is also provisions for "Set on"and "SET OFF". Please talk to your finance team for better understanding of the same. It is always better to have audit of the Bonus calculation by authorised Auditor.
S. K. Bandyopadhyay ( Howrah, WB)
+91 98310 81531
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.
Add the url of this thread if you want to cite this discussion.
#Listed In: bonus act compenastion management payment of bonus act payment of bonus Country-India City-India-Gurgaon
Online payment of PF mandatory from 1.1.2016.pdf
THE PAYMENT OF BONUS ACT.doc
