Pension calculation under EPS is Average PF gross * Pensionable service/70. Therefore, factors which are important are Pensionable Service and Average PF gross. In a particular month for 5 days LOP has no effect on the calculation of Pensionable service.
In case of Bonus calculation there are few conditions. % of bonus to be determined on the basis of allocable surplus, set on and set off. Individual's eligibility, calculation base - 7000/- or the minimum wages and finally individual calculation considering LOP.
There is no mathematical logic/ relation between the two calculations - PF & Bonus.
If we try to corelate between LOP deduction under PB Act vs PF Act it is like compare between apple and guava.
Payment of Bonus Act has been allowed proportionate deduction which you have also mentioned, but it is not mentioned anywhere in PF & Misc. Act. In case of Bonus calculation, once the basis of calculation is finalized ( 7000/- or minimum wages which ever is higher ) then after calculating bonus as per PB Act - say as you have mentioned in your post 15000/- minimum wages and let us consider 10% bonus - the value will be 18,000/-. The employee who had not any LOP will be eligible for 18,000/- . But the employee who had LOP would get less bonus proportionately as per PB Act.
In case of PF & Misc. Act , the contribution is depend on actual earning of PF Gross considering LOP and if the organization is intend to contribute on 15,000/- cap as per act , in that case even after LOP if the PF Gross is 15,000/- or more - it should be deducted on 15,000/- instead of bringing down 15,000/- as per LOP to contribute PF on less than 15,000/-. In pay roll it will reflect that the PF gross is more than 15,000/- but the contribution has been made on below 15,000/- amount and that will not be acceptable to PF authority.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
[Login to view]
USD HR Solutions – To Strive towards excellence with effort and integrity