Dear Mr. Jagan,
If your Basic (+DA) is 1000/-, assuming you have completed one year service = then it is 12000/- x 8.33% (minimum) = 1000/-.
If you have worked less than that period - calculate your basic x that many number of months in service x 8.33%
company can declare Bonus upto 20% also. then calculation will be that way.
Please note some companies are too good. they do not see any calculation and Management decides some X amount ... those with the company for over one year this much, less than one year this much, less than x month/s = no bonus, etc.
As far as Bonus is concernd it all depends on company policy.
Bonus Act clearly says 8.33% minimum BONUS even for a Loss making company. HERE AGAIN I forgot to put one very important point - if the Company / Organization is formed & running for less than 5 years - such Comapnies / Organizations NEED NOT PAY BONUS as they are exempted for the first 5 years of incorporation (!?).
Hereagain some companies are extremely nice to declare "Ex.gratia" (instead of Bonus) if they are doing well.
Regards,
Sundararaman