Dear All Tell me how to claculate the bonus & important instruction with formats Thanks
From India, New Delhi
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From India, New Delhi
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Minimum bonus shall be 8.33% of the salary or wage earned by the employee during the accounting year or 100 Rs, whichever is higher. Salary or wage for the purpose of bonus means basic wage and dearness allowance only. An employee drawing wages up to Rs. 3500/- is covered under the act; however, the bonus payable to him shall be calculated on a maximum of Rs. 2500/- only.
From India, Shimla
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From India, Shimla
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Salary and basic total amounting to Rs.10,000/- are eligible for the payment of a bonus after completing 30 working days. To calculate the bonus, multiply the total basic salary by the months of service during the last year and then divide the result by 8.33%. The maximum bonus amount is Rs.3500/-.
From India, Ahmadabad
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76From India, Ahmadabad
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I guess the basic should not be greater than Rs. 10,000/- per month, and the maximum bonus payable is Rs. 3,500/-. Am I right?
Again, what will be the criteria for the calculation of the bonus - based on the basic of Rs. 10,000/- or on Rs. 2,500/-?
From India, Calcutta
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Again, what will be the criteria for the calculation of the bonus - based on the basic of Rs. 10,000/- or on Rs. 2,500/-?
From India, Calcutta
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Dear Bonus limit is Rs. 10,000/- per month, which means an employee getting basic and DA up to Rs. 10,000 per month is eligible to receive a bonus. Now, the base is Rs. 3,500, so you have to calculate the bonus amount considering they are receiving only Rs. 3,500. Bonuses are determined based on a set percentage, ranging from a minimum of 8.33% to a maximum of 20%.
Thank you,
J.S. Malik
From India, Delhi
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Thank you,
J.S. Malik
From India, Delhi
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Dear,
So, does this mean that if an employee is drawing a salary of 1 to 3500, the amount to be calculated for the bonus is 2500? For employees drawing a salary from 3500 to 10000, is the amount to be calculated for the bonus 3500?
Please help! I am really confused!
From India, Pune
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So, does this mean that if an employee is drawing a salary of 1 to 3500, the amount to be calculated for the bonus is 2500? For employees drawing a salary from 3500 to 10000, is the amount to be calculated for the bonus 3500?
Please help! I am really confused!
From India, Pune
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