Diwali Bonus [Thread 560575]

hello, like eligible salary is increased from 10000 to 21000 per month for diwali bonus. I want to ask if employee salary is 15000/- and his basic is 7500/-, then should i calculate bonus on basic (7500/-) or calculate on 15000/-. please guide me, enlighten me with any other diwali bonus point or information. and ya plz tell me when we are going to give diwali bonus, should we multiply monthly bonus with 12 months or not. we dont give monthly bonus in our company.

As per new amendment, If an employee's total salary is 15000 and his basic is 7500/-, find out what is the minimum wages for your state for your industry. You have to calculate bonus on the basic or the minimum wages which ever is higher.
Bonus has to be paid within 8 months of completion of financial year. i.e., 30th November.
You have to calculate the bonus as follows:
Total basic wages paid last financial year or Minimum wages (proportionate to the number of days present in every month in the last financial year) x 8.33% = an employee's bonus.