Sir/Mam, Kindly provide latest amendment in bonus act. 'm confused in calculating bonus. Kindly provide the information.
From India, Bangalore
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From India, Bangalore
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Bonus Calculation for Employees
If Basic + DA (Wages/Salary) <= 10,000, then consider this as Rs. 3,500 per month since the person will be eligible for a bonus. Eligible employees would receive a bonus for paid days by the employer, including all leaves, holidays, etc., paid by the employer.
For a worker, if the present days in the month of July are 26 days, then the bonus would be calculated as follows:
(3,500 / 26 * 26) / 12 = 3,500 (26 days are the actual days in the month of July)
(12 is the number of months in the year as per the Bonus Act).
From India, Pune
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470If Basic + DA (Wages/Salary) <= 10,000, then consider this as Rs. 3,500 per month since the person will be eligible for a bonus. Eligible employees would receive a bonus for paid days by the employer, including all leaves, holidays, etc., paid by the employer.
For a worker, if the present days in the month of July are 26 days, then the bonus would be calculated as follows:
(3,500 / 26 * 26) / 12 = 3,500 (26 days are the actual days in the month of July)
(12 is the number of months in the year as per the Bonus Act).
From India, Pune
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One of my seniors said that the bonus is calculated at only 8.33%. Therefore, we have been calculating the bonus based on the basic salary at 8.33%. However, it seems your calculation differs from this. Could you please explain this difference to me briefly? I am requesting your clarification on this matter.
Thank you.
Regards
From India, Hyderabad
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Thank you.
Regards
From India, Hyderabad
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THE PAYMENT OF BONUS ACT(with amendments & comments) 1965.docx
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