Dear Valeru,
Thanks
If company is in loss from staring 3 years and after next two years in profit than company is paid bonus for two years, if company get profit in staring two years than in loss than company will paid bonus for 5-years means when after 3-years company get profit than will paid .As per Bonus Act 1965, in section
16. Special provisions with respect to certain establishments as
[(1) Where an establishment is newly set up, whether before or after the commencement of this Act, the employees of such establishment
shall be entitled to be paid bonus under this Act in accordance with the provisions of sub-sections (1A), (1B) and (1C). (1A) In the first five accounting years following the accounting year in which the employer sells the goods produced or manufactured by him or renders services, as the case may be, from such establishment,bonus shall be payable only in respect of the accounting year in which the employer derives profit from such establishment and such bonus shall be calculated in accordance with the provisions of this Act in relation to that year, but without applying the provisions of section
15. (1B) For the sixth and seventh accounting years following the accounting year in which the employer sells the goods produced or
manufactured by him or renders services, as the case may be, from such establishment, the provisions of section 15 shall apply subject to the
following modifications, namely:-(i) for the sixth accounting year--set on or set off, as the case may be, shall be made in the manner illustrated in the 2*[Fourth Schedule] taking into account the excess or deficency, if any, as the case may be, of the allocable surplus set on or set off in respect of the fifth and sixth accounting years; (ii) for the seventh accounting year--set on or set off, as the case may be, shall be made in the manner illustraed in the
1*[Fourth Schedule taking into account the excess or deficiency, if any, as the case may be, of the allocable surplus set on or set off in respect of the fifth,sixth and seventh accounting years.
As per Act if Basic+DA is more than 10000 than he is not entitle for bonus, company is such employee as ex- gratia. Calculation of basic is vary company to company but in case of minimum wage it should be minimum wage as per grade.
If Gross is 12000/- and its 60% is 7200(Basic) and minimum wage is 7500 than basic+DA should be 7500.
If any one worked 30 days in financial years then he is entitle for bonus with some exemption as per act.
Thanks
Manish