Hi,
Pl note the following,
1. The employee who is getting wages upto Rs. 10000/- pm is eligible for Bonus, above 10000/-, will not be eligible.
2. He must have worked at least 30 days in a year (for Bonus- Financial year- Apr to Mar)
3. Rs. 3500 is the maximum wage limit for Bonus calculation, whatever employee earns more than Rs. 3500 will not be considered for Bonus.
whatever employee earns less than Rs. 3500 will be considered at actual.
4. While calculating the Bonus, take the total of earned wages at actual (if less than Rs. 3500) or max Rs. 3500 for all the months for which
he has worked.
eg. if employee earned Rs. 3200/pm in every month then Rs. 3200/- x nos. of months x % of declared bonus.
eg. if employee earned Rs. 5200/pm in every month then Rs. 3500/- x nos. of months x % of declarred bonus.
5. Minimum bonus amount should not be less than Rs. 100/- to the eligible employee.
I hope you got clear idea about Bonus calculation,
For any clarification, pl revert,
Atul S Malve
Manager- HR & Admin
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