First of all % of Bonus for any organization has to be determined as per Bonus Schedule as applicable from Gross Profit from P & L Account, available surplus, allocable surplus, Set On & Set off.
Now for calculating Bonus for eligible individual will be calculated based on the basic & da 7000/- or minimum wages whichever is higher. For any employee if the basic & da is less tha 7000/- , then it will be on the basis of actual basic and da.
Bonus is a deferred wages and if any employee had basic and da up to 21,000/- previous year would be eligible for bonus in the current year.
Many organizations are paying Bonus on adhoc basis 8.33% without calculating actual % of bonus as per PB Act. In wage code it is now crystal clear that any organization may pay bonus customary, but it has to be calculated on the basis of Wage Code as mentioned above and if there is any short fall the same has to be paid again.
Therefore, it is now must for all organizations to calculate bonus as per Wage Code.
S K Bandyopadhyay ( WB, HOWRAH)