Bonus Calculation Format Updated: What Do You Think of the New Changes?

Dear Friends,

I have once again uploaded the Bonus Calculation Format with some modifications. Your suggestions are appreciated.

Sorry... Please find the attachment!!!

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Corrected version:

Sorry... Please find the attachment!!!

Dear Prashant,

In my opinion, we should write "bonus payable days" instead of "present days" in the bonus calculation sheet, as weekly off days cannot be considered as present days in a month. Submitted for consideration only.

Regards,
R.N. Khola
Skylark Associates, Gurgaon (Haryana)
(Labour Law & Legal Consultants)
09810405361

Dear Prashant,

Please review with some experts and then post your ad. The bonus format and its calculation sent by you are totally wrong and impractical.

Best Regards,
Sajid Ansari
Delhi

Dear Mr. Prashanth,

I thought we have to calculate up to 3500/- (Basic amount). Am I right? Please suggest me.

With Regards,
Prasad
09008744009

Dear Mr. Prashant,

Vineet here. Presently, I am working in a Water Purifier Company. Could you please brief me on the criteria you used to calculate the bonus?

Thanks.

Dear Mr. P.C. Gupta Ji,

Thank you for your email and concern.

Please note that we have already provided all the information related to bonus and gratuity. You can find it in the notes of the May 09 articles on the same site. If you are unable to locate it, please let me know so that I can forward the same contents to you.

Best Regards,
Sajid Ansari
Delhi

Hi Friends,

Regarding Bonus Calculation, I have attached an Excel file that shows a simple bonus calculation, which will be useful.

Regards,
V. Ganesh
Executive - HR

Hello friends!

My name is Meghna, and I work as an HR professional in a small firm. I am looking to make a career change despite having 4 years of experience in sales at Shopper's Stop and 2 years in HR.

Thanks, Prashant. Can you please tell me how the present days are calculated? Is it just the number of days that the worker was physically present, or the number of days that he would have been present after taking into account his being absent (i.e., being absent even without having leave to his credit)?

Could Mr. Khola also shed some light on this? Thank you.

Also, Prashant, it appears from your calculation that no one exceeds Rs. 3500 regardless of his wage - is there a yardstick for this? I have been paying as per whatever the wage is (even though bonus is not applicable to us being a charitable organization not for profit). I will be grateful if you let me know the details - as we still might give ex gratia if they work properly.

Dear Ganesh,

You are absolutely correct. We can follow Prashanth's format, but Mr. Ganesh's calculations are correct. Last year, we calculated the same thing for 250 employees.

Regards,
Prasad
9008744009

Dear Mr. Davinder,

Your calculation is correct, but you should consider up to 3500, which is the maximum amount as per the bonus act (new amendment, of which I have no knowledge). First, you need to consider Basic & DA as 3500 or whichever is less. Based on that, we should calculate the number of days present during the month. For example: [(3500(B & D)/26(T.W.D)*20(P.D.M, Assume)*8.33%], the final amount will be 224.

For any clarification, feel free to call me anytime at 9008744009.

With Regards,
Prasad

Dear All,

An organization provides two types of bonuses: Festival Bonus and Production/Target-oriented bonus. Employees who have completed one year of service are entitled to the "Festival bonus," which is equal to two basic salaries for a fiscal year; otherwise, a pro-rata festival bonus will be applicable. However, this policy is not universal and varies from organization to organization. Some organizations provide Festival Bonus based on staff service confirmation.

Production/Target Bonus/Performance Bonus:
There is no fixed rule for this bonus; it depends on the organization's policies and practices. However, most organizations consider staff performance when determining this bonus.

Thank you.

Hi, My name is Prashant Pandey. Can anyone help me with a format for Bonus calculation if it is part of the salary breakup? It's urgent, please help.