In Maharashtra, Bonus is calculated on Base pay of Rs. 7000 or on the Minimum wages as declared by state.
From Singapore, Singapore
From Singapore, Singapore
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Dear friend,
As per the amended provision of sec.12 of the Payment of Bonus Act,1965, when the salary of the employee exceeds Rs.7000/= p.m, bonus shall be calculated as if the salary is Rs.7000/= only or the minimum wages fixed by the appropriate Government under the Minimum Wages Act,1948 for the employment whichever is higher.
From India, Salem
5997As per the amended provision of sec.12 of the Payment of Bonus Act,1965, when the salary of the employee exceeds Rs.7000/= p.m, bonus shall be calculated as if the salary is Rs.7000/= only or the minimum wages fixed by the appropriate Government under the Minimum Wages Act,1948 for the employment whichever is higher.
From India, Salem
Bonus Calculation.xls
BONUS CALCULATION RULE (1).pdf