As per last amendment of PB Act, there are two changes :-
Eligibility salary limit enhanced from 10,000/-per month to 21,000/- per month.
Calculation of Bonus should be on the basis of 7000/- or the scheduled employment minimum wages which ever is higher on basis of that.
All Bonus calculation have been shown in posts above are on the basis minimum bonus 8,33% which is not the reality. The bonus % amount may vary between 8.33% to 20% will depend on available surplus, allocable surplus, Set on & Set off.
If we interpretate the above, it will be that if the salary is below 7000/- per month, bonus should be calculated on actual salary. But if it is 7000/- per month or more then it will be essential to check with minimum wages and bonus should be paid on the basis of higher one.
S K Bandyopadhyay ( WB, Howrah)
+91 98310 81531
CEO-USD HR Solutions
USD HR Solutions – To Strive towards excellence with effort and integrity