New Here! Can Anyone Share Insights on Bonus Ceiling Limits?

Dear all,

I am new to this site; I hope I will get a lot of knowledge from all of you.

Please let me know the ceiling limit of the bonus.

Happy Dasara / Vijayadashmi. :)

Yours,
Vidyaranya.

Dear Vidyaranya,

Welcome aboard. The ceiling limit of the bonus is Rs. 10,000. The calculation is as follows: if the basic salary is Rs. 3500 or above, it is calculated as 3500 * Number of months * (8 to 12)%.

In case the basic salary is less than Rs. 3500, for example, Rs. 3400, then the calculation is as follows: 3400 * Number of months * (8 to 12)%.

If you need any clarifications, please revert.

Dear Prathima,

Thanks for the valuable information. I think the below-mentioned formula (in Excel sheet) will make it easy to calculate the Bonus: "=IF(basic + DA >= 3500, 3500, IF(Basic + DA <= 3500, (Basic + DA * 8.33%) * No of months)". Please comment.

Regards,

Vidyaranya.

Hi All,

I just joined this valuable forum, and I want to know about the process and procedures for the formation and registration of a company. Kindly help me in this regard.

Thanks,
Suresh

Very good PPT about bonus calculation after notification of wage ceiling of Rs. 21,000/-