Regarding Bonus - Bonus Eligibility

Hi,
please tell me with that what is the minimum eligibility to employee for getting
Bonus, like salary(gross or basic),working period,when we have to pay employees,what is the formula for calculating bonus.
please reply all about bonus.
Lokesh

Lokesh ,
A employee who has worked for more than 30 days in a year is entitled for Bonus.
Bonus is paid from the Basic Salary. it should be minimum 8.33% Maximum depends on Company. however it it is new companyit can enjoy the infancy period and can pay 8.33% upto five years, if your company is old enought than you should pay 20% of basic towards the Bonus.
For further queries please refer the Bonus ACT.
Regards,
SIDMAN

HI,
I am omparkash
Can any body help me if any employer/company refused to pay bonus then wht a person can do for geeting their bonus if he worked with organization with 2-3 years and company deduct his pf
mail me rajluvsharma@ gmail.com

1. Is bonus calculated on Basic only or Basic+DA?
2. In my salary structure 'Basic' is not mentioned separately, It is shown as a Basic+DA. My CTC / month is Rs.24,916.00 and Basic+DA is Rs.7,000.00 only. Is it correct?

Dear Radha,

According to the Payment of bonus Act, 1965 section 2(21) “salary or wage” we are to consider Basic & DA only but where an employee is given in lieu of the whole or part of the salary or wage payable to him, free food allowance or free food by his employer, such food allowance or the value of such food shall, for the purpose of this clause, be deemed to form part of the salary or wage of such employee. If your basic & D A is Rs. 7000/ pm then you are eligible to receive bonus payment from the employer.
Regards,
R.N.Khola

Dear Radha,
Bonus is calculated on Basic + DA. Your Basic is 7000/- you are eligible for bonus minimum 8.33% on the earned basic+DA and maximum 20% on earned basic + DA as per your company policy mentioned in Standing order.
Thanks and regards
Ambesh Kumar
Sr. Executive HR