Confused About Bonus Calculations? Need Help Understanding the Latest Amendments to the Bonus Act

Could you kindly provide me with the latest amendments to the Bonus Act? I am confused about how to calculate the bonus. Your assistance in this matter would be greatly appreciated.

Thank you.

Bonus Calculation for Employees

If Basic + DA (Wages/Salary) <= 10,000, then consider this as Rs. 3,500 per month since the person will be eligible for a bonus. Eligible employees would receive a bonus for paid days by the employer, including all leaves, holidays, etc., paid by the employer.

For a worker, if the present days in the month of July are 26 days, then the bonus would be calculated as follows:

(3,500 / 26 * 26) / 12 = 3,500 (26 days are the actual days in the month of July)

(12 is the number of months in the year as per the Bonus Act).

One of my seniors said that the bonus is calculated at only 8.33%. Therefore, we have been calculating the bonus based on the basic salary at 8.33%. However, it seems your calculation differs from this. Could you please explain this difference to me briefly? I am requesting your clarification on this matter.

Thank you.
Regards

Could anyone provide information regarding the bonus amendment? The ceiling will be $15,000 and $5,500 with a rate of 11%. Please give me accurate details about this.

Thank you,

Rajesh Kumar

I want to know if bonuses can be paid on a monthly basis instead of yearly.

Regards,
Amit Kumar Bajpai