Whether two slabs are allowable for Bonus calculation of same organization?
From India, Bangalore
Acknowledge(0)
Amend(0)
From India, Bangalore
Acknowledge(0)Amend(0)
Quiet possible , it depends upon the joining date of employees and then prevalent government rules. Also depends on Managements policies. Regards, Shane
From India, Calcutta
Acknowledge(0)Amend(0)
From India, Calcutta
Acknowledge(0)Amend(0)
In case of Statutory bonus, you cannot differentiate (cannot create 2 slabs) based on the principles under Article 15 of the Constitution of India. Where the Statutory Bonus is not applicable, you may create different slabs as per your preference.
Ensure a single line break between paragraphs.
From India, Pune
Acknowledge(0)Amend(0)
470Ensure a single line break between paragraphs.
From India, Pune
Acknowledge(0)Amend(0)
Dear All,
The bonus payment is a very sensitive issue. However, as per the act, the bonus payment and rules are as follows:
1) Bonus should be calculated from April to March of any year.
2) If a person joined in between, just calculate the = (salary/12) * number of months working between April to March.
3) Some companies have the bonus as part of the CTC of the employee.
If I am wrong anywhere, please correct me. I will appreciate it.
Thanks
From India, Mumbai
Acknowledge(0)Amend(0)
The bonus payment is a very sensitive issue. However, as per the act, the bonus payment and rules are as follows:
1) Bonus should be calculated from April to March of any year.
2) If a person joined in between, just calculate the = (salary/12) * number of months working between April to March.
3) Some companies have the bonus as part of the CTC of the employee.
If I am wrong anywhere, please correct me. I will appreciate it.
Thanks
From India, Mumbai
Acknowledge(0)Amend(0)
Dear All,
Currently, we are calculating bonuses in the CTC (Cost to Company) structure. However, four to five years ago, we used to calculate bonuses based on the Company's Profit, ranging from a minimum of 8.33% to a maximum of 20% of the Basic Rs. 3500, which was reimbursed within 8 months after the completion of the financial year. This is the actual reimbursement rule.
Thanks,
Regards,
J.N. Modi
From India, New Delhi
Acknowledge(0)Amend(0)
Currently, we are calculating bonuses in the CTC (Cost to Company) structure. However, four to five years ago, we used to calculate bonuses based on the Company's Profit, ranging from a minimum of 8.33% to a maximum of 20% of the Basic Rs. 3500, which was reimbursed within 8 months after the completion of the financial year. This is the actual reimbursement rule.
Thanks,
Regards,
J.N. Modi
From India, New Delhi
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Bonus Calculation.xls
BONUS CALCULATION RULE (1).pdf