Pls guide me to calculate bonus eligibility. Salary plus DA is 18000 and his gross is 25000. Is he eligible for a bonus, worked for one year.
From India, Bangalore
1From India, Bangalore
Since his basic and DA put together is less than Rs 21000, he is eligible to Bonus. But you can calculate the bonus payable on the minimum wages fixed by your state government. Suppose the minimum wages applicable to the same employment in your industry is Rs 12000, you can calculate his bonus as if his salary is Rs 12000. If yours is an organisation for which no minimum wages has been fixed by the government, then you can calculate bonus as if the salary is Rs 7000 per month.
From India, Kannur
From India, Kannur
We can say if industries falls under schedule employment , once need to pay on minimum wages otherwise on seven thousand
Please confirm my whether my interpretation is correct or not ?
Regards
R K Dixit
From India, New Delhi
Please confirm my whether my interpretation is correct or not ?
Regards
R K Dixit
From India, New Delhi
As per the payment of bonus act ,The calculation is Basic and DA not Salary and DA. please go through the act once
What is salary? It is the sum total of the amount agreed as per contract of employment. No where in the Act it has said that your salary should have a bifurcation with the least amount put in the basic salary and the maximum amount in the 'other allowance'. It was by the unscrupulous act of some employers that the same was interpreted as basic pay as they have put in their salary structure. If your employer is deducting your loss of pay on gross salary, that is the salary for all purposes including calculation of leave encashment, gratuity and bonus.
From India, Kannur
From India, Kannur
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Salary-Note.doc
SALARY SHEET CALCULATION.xls