Dear All, Pls. let me know bonus is calculated on 3500/- is it right. what is 10,000/- in bonus case Pls help me because i have one case in my factory waiting for your reply karamvir
From India, Jhajjar
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6From India, Jhajjar
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Dear Mahr,
Bonus is calculated on the 3500/-, which means some guy says that if anybody has worked 30 days in any year, that person will be eligible for a bonus. Is this correct? It means one person has worked for two years and then leaves the organization. How much bonus will that person be eligible for? Is this 3500/- including basic + DA correct?
From India, Jhajjar
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Bonus is calculated on the 3500/-, which means some guy says that if anybody has worked 30 days in any year, that person will be eligible for a bonus. Is this correct? It means one person has worked for two years and then leaves the organization. How much bonus will that person be eligible for? Is this 3500/- including basic + DA correct?
From India, Jhajjar
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Dear Karamvir,
The 10,000 limit is for applicability. This means that those whose basic salary is less than 10,000/- per month are entitled to a bonus, and 3500/- is the maximum liability on the employer for the bonus. The employer can pay a bonus of more than 3500/- depending on the employer's policy. However, no one can claim a bonus of more than 3500/- for one year.
Thanks and best regards
From India, New Delhi
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The 10,000 limit is for applicability. This means that those whose basic salary is less than 10,000/- per month are entitled to a bonus, and 3500/- is the maximum liability on the employer for the bonus. The employer can pay a bonus of more than 3500/- depending on the employer's policy. However, no one can claim a bonus of more than 3500/- for one year.
Thanks and best regards
From India, New Delhi
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Rs 10000/- the eligibility craite area and for coverage of employee, but the computation/calcution of Bonus shall be on Rs 35,00/- irrespective of what he is getting.
From India, Delhi
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From India, Delhi
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Re: Calculation of Bonus - Urgent Reply
Dear Gurav,
Please be guided by the information below for the payment of Bonus.
Two issues are to be considered:
Salary Eligibility for Bonus: If your salary is less than 10,000, you are eligible for a bonus as per the Act.
Bonus Calculation: The bonus shall be calculated on Rs. 3500 if your salary is more than Rs. 3500. Please refer to the example for more clarity.
Bonus Calculation:
Case A: Monthly wages greater than Rs. 3500/-
Gross Monthly Wages of Workmen "A": Rs. 5190
Bonus Payable Wages of Workmen "A": Rs. 3500
Bonus Payable at the existing rate assuming that the workman comes regularly: Rs. 3500 * Bonus rate * 12 months
Case B: Gross Monthly wages less than Rs. 3500/-
Gross Monthly Wages of Workmen "B": Rs. 3120
Bonus Payable Wages of Workmen "B": Rs. 3120
Bonus Payable at the existing rate assuming that the workman comes regularly every month: Rs. 3120 * Bonus rate * 12 months
Please click the link below for more information: https://www.citehr.com/124677-calcul...#ixzz0lvRz8Xku
From United States
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Dear Gurav,
Please be guided by the information below for the payment of Bonus.
Two issues are to be considered:
Salary Eligibility for Bonus: If your salary is less than 10,000, you are eligible for a bonus as per the Act.
Bonus Calculation: The bonus shall be calculated on Rs. 3500 if your salary is more than Rs. 3500. Please refer to the example for more clarity.
Bonus Calculation:
Case A: Monthly wages greater than Rs. 3500/-
Gross Monthly Wages of Workmen "A": Rs. 5190
Bonus Payable Wages of Workmen "A": Rs. 3500
Bonus Payable at the existing rate assuming that the workman comes regularly: Rs. 3500 * Bonus rate * 12 months
Case B: Gross Monthly wages less than Rs. 3500/-
Gross Monthly Wages of Workmen "B": Rs. 3120
Bonus Payable Wages of Workmen "B": Rs. 3120
Bonus Payable at the existing rate assuming that the workman comes regularly every month: Rs. 3120 * Bonus rate * 12 months
Please click the link below for more information: https://www.citehr.com/124677-calcul...#ixzz0lvRz8Xku
From United States
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Dear employees,
Employees who have worked for a minimum of 30 days in the accounting year and are drawing a salary of Rs. 10,000 or less will be eligible for the payment of Bonus. However, it will be calculated on the basis of a monthly salary of Rs. 3,500.
Thank you,
Mahesh Pandey
From India, Calcutta
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Employees who have worked for a minimum of 30 days in the accounting year and are drawing a salary of Rs. 10,000 or less will be eligible for the payment of Bonus. However, it will be calculated on the basis of a monthly salary of Rs. 3,500.
Thank you,
Mahesh Pandey
From India, Calcutta
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Hi Karamvir,
10,000 is the ceiling, which means employees with a salary less than or equal to Rs. 10,000/- (Basic + DA) are only eligible for a bonus. This is the criteria. However, the calculation ceiling is Rs. 3500/-. The monthly calculated salary cannot be more than this even if a person has a basic of 10,000/-.
Example:
Employee A - Basic + DA - 8000
Calculation - 3500*% will be the bonus for him based on the number of months worked.
From India, Delhi
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10,000 is the ceiling, which means employees with a salary less than or equal to Rs. 10,000/- (Basic + DA) are only eligible for a bonus. This is the criteria. However, the calculation ceiling is Rs. 3500/-. The monthly calculated salary cannot be more than this even if a person has a basic of 10,000/-.
Example:
Employee A - Basic + DA - 8000
Calculation - 3500*% will be the bonus for him based on the number of months worked.
From India, Delhi
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Bonus calculation is so simple. Please do it in a simple way:
1. If the salary is equal to or less than 3500, then take the real amount of basic.
2. If the salary range is greater than 3500 and less than 10,000, or equal to 10,000, then assume it as 3500.
For example, suppose an employee "A" has a basic salary of 5000. In January, his net payable is 5000, February = 4900, March = 5000, April = 2500, etc. until December.
Write down all months first in a column of the sheet, i.e., January, February to December. Secondly, put 3500 in the January column, 3500 in the February column, similarly, 3500 in March, and 2500 in April. Then in the total column = January + February + March + April, in the bonus column = total column * Y%.
Here, Y = minimum 8.33% to 20%, depending on the company's profit and rules. Hope this helps you all.
From India, Angul
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1. If the salary is equal to or less than 3500, then take the real amount of basic.
2. If the salary range is greater than 3500 and less than 10,000, or equal to 10,000, then assume it as 3500.
For example, suppose an employee "A" has a basic salary of 5000. In January, his net payable is 5000, February = 4900, March = 5000, April = 2500, etc. until December.
Write down all months first in a column of the sheet, i.e., January, February to December. Secondly, put 3500 in the January column, 3500 in the February column, similarly, 3500 in March, and 2500 in April. Then in the total column = January + February + March + April, in the bonus column = total column * Y%.
Here, Y = minimum 8.33% to 20%, depending on the company's profit and rules. Hope this helps you all.
From India, Angul
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Hi Everybody,
I'm a 1984-born, PG in English, associated with a company as an admin executive for 1.5 years. I want to pursue PGDM through Correspondence in HR. Can you tell me if it would be beneficial for my career? Is a Correspondence course valuable for achieving good growth? I need your guidance as I am totally confused about my career. I don't want to continue in an admin profile only; I am keenly interested in an HR profile. Help me, please!
PEARL...(R T)
From India, Delhi
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I'm a 1984-born, PG in English, associated with a company as an admin executive for 1.5 years. I want to pursue PGDM through Correspondence in HR. Can you tell me if it would be beneficial for my career? Is a Correspondence course valuable for achieving good growth? I need your guidance as I am totally confused about my career. I don't want to continue in an admin profile only; I am keenly interested in an HR profile. Help me, please!
PEARL...(R T)
From India, Delhi
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