Struggling with Bonus Calculations: How Do I Determine Eligibility and Amounts?

Hi all,

I am facing a problem in calculating the bonus. I want to know about the employees who are eligible for receiving the bonus. What is the maximum and minimum value of Basic + DA? Kindly help me in this regard with an example if possible.

Thanks & Regards,
Shweta

Hi all,

I am facing a problem in calculating the bonus. I want to know about the employees who are eligible for receiving the bonus. What is the maximum and minimum value of Basic + DA? Kindly help me in this regard with an example if possible.

Thanks & Regards,
Shweta

Dear,

Please confirm in which state you are working and would like to calculate the bonus.

With regards

Hi Shweta, For bonus calculation, an employee has to work a minimum of 30 days in a year, and an employee who draws a salary up to Rs. 10,000 is eligible for a bonus. The maximum bonus is 20%, and the minimum bonus is 8.33%. The calculation base is Rs. 3500.

Equation: (Basic + DA) * 20% = Rs. 700

If an employee's Basic + DA is Rs. 7500, the computation base will be Rs. 3500.

Thanks & Regards,
Rahul Vaidya

The above calculation is correct, and employees getting up to 10,000/- per month are liable to be paid bonus compulsorily.

Regards,

Dear,

Bonus will be calculated on (Basic + DA) and up to 3500. In any year, 30 days are required for eligibility. Suppose the company is going under a loss; then, after completing five years, it is the statutory liability of the company to give the bonus to its employees. The minimum will be 8.33%, and the maximum will be 20%.

Dear,

Bonus will be calculated on (Basic + DA) and up to 3500. In any year, 30 days are required for eligibility. Suppose the company is going under a loss, then after completing five years, it is the statutory liability of the company to give the bonus to their employees. The minimum will be 8.33% and the maximum 20%.

Dear,

The minimum bonus is 8.33%, and the maximum is 20%. Consider only 3500/ (Basic+DA) as the sealing limit. In any year, 30 days are required to be eligible. The total Basic+DA*20% equals the bonus that will be received.

With regards,

Nagaraj.M.L

Thank you so much for addressing my query. Earlier, I was calculating based on yearly Basic + DA. But now it is clear. Once again, thank you very much!

Regards,
Shweta