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ashavasanth
1

Hi, Am working as an HR in a private limited company

In our organization, some of the employees Earned Basic+DA is 20000/-pm
Bonus Caluculation 20000*12=240000*8.33%=19992
Above calculation is correct?

Regards,
Asha

From India, Bangalore
13

as per my knowledge Bonus calculation is Basic+DA/No days in Month*No of payable days in a moth *8.33% ( Bonus Calculation Month Wise )

Example :- April'22 payable days - 20
May '22 payable days - 26
June'22 Payable Days - 10

From India, New Delhi
umakanthan53
6017

Dear Ashavasanth,

As per the amended section 12 of the PB Act,1965, when the salary or wage of the employee exceeds Rs.7000-00 per month, the bonus payable u/s 10 or 11 as the case may be, shall be calculated as if the salary or wage were Rs.7000/= or the minimum wages fixed whichever is higher.

Therefore, in the given case, the minimum bonus payable would be Rs.7000 X 12 X 8.33 = Rs.6997-00, if no minimum wages fixed or the minimum wage fixed is less than Rs.7000/- as the case be.
If on the contrary, the minimum wage fixed is more than Rs.7000/=, actual minimum wages should be taken into account for calculation.

From India, Salem
nanu1953
334

Sitting 2022-2023 all organizations will pay bonus for 2021-2022 financial year. As bonus is a deferred wages, therefore it is required to check the Basic and DA during the financial year 2021-2022 for the employees. If the said amount is 21,000/- per month or below, the concerned employee will be eligible for Bonus.

Now come to calculation of bonus for individuals and what Mr. Umakanthan M has been explained above, I agree with that in totality.

S K Bandyopadhyay ( WB, Howrah )
CEO-USD HR Solutions
+91 98310 81531

USD HR Solutions – To Strive towards excellence with effort and integrity

From India, New Delhi
saswatabanerjee
2387

Dear Asha

The working is correct as such (other than the fact that you are paying it on higher wages than mandatorily required - ref to posts above on the ceiling)

However you are assuming that bonus is payable only at the minimum rate of 8.33%
You need to make the allocable surplus register, available surplus register, and from that compute the rate of bonus It can be up to 20% of salary

From India, Mumbai
suresh2511
246

Hello, Ashavasanth.

Divide the bonusable salary by 12 to determine the correct amount of bonus. (100/12=8.3333%)
As a result of this, Rs.2,40,000/12=Rs.20,000/-
As a result, rather than multiplying by 8.33%, please use divisor 12 from now on.

Regards,

Suresh

From India, Thane
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