I want to know whether bonus is payable on total salry or on basic only. Thanx ashok
From India, Bhubaneswar
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From India, Bhubaneswar
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Dear Ashok Bonus is calculate on based on basic+DA on 8.33% to 20% depends upon your organisation ability to pay, Regds ambarish Ph : 9164950110
From India, Bangalore
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From India, Bangalore
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Dear Ashok,
Bonus is paid on salary or wage as defined under section 2(21) of the Payment of Bonus Act, 1965.
Regards,
R.N. Khola
I want to know whether bonus is payable on total salary or on basic only.
Thank you,
Ashok
From India, Delhi
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422Bonus is paid on salary or wage as defined under section 2(21) of the Payment of Bonus Act, 1965.
Regards,
R.N. Khola
I want to know whether bonus is payable on total salary or on basic only.
Thank you,
Ashok
From India, Delhi
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Bonus will be calculated at 3500/- basic per month. However, if the basic amount for any respective month is less than 3500/-, the bonus will be calculated based on the present basic amount for that month.
April: 3500
May: 3500
June: 3300
July: 3250
August: 3500
Total: 17050
The amount payable will be calculated as follows: 17050 * percentage of bonus.
From India, Bangalore
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April: 3500
May: 3500
June: 3300
July: 3250
August: 3500
Total: 17050
The amount payable will be calculated as follows: 17050 * percentage of bonus.
From India, Bangalore
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It is payable on the basic + DA ,as per payment of bonus act the minimum payable is 8.33% and maximum is as per the discussion of the board members
From India, Bangalore
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From India, Bangalore
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Hello Ami Arin i just wanna know more in this is that do companies give bonus every month..
From India, Delhi
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From India, Delhi
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Payment of Bonus Act 1965 states that 8.33% is equivalent to 1 month's salary, up to 20% which is equivalent to 2 and a half months' salary - this is the maximum bonus a company can pay according to the Payment of Bonus Act 1965. The actual bonus amount depends on the company's policy, allocable surplus, and available surplus. Bonuses are calculated based on Basic + DA.
From India, Mumbai
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From India, Mumbai
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Hi Ashok,
As per the Payment of Bonus Act 1965, a bonus is payable on basic wages if the company is giving D.A. to workers; then D.A. should also be considered in this calculation.
For the computation of the Bonus, Rs. 3500/- per month as basic will be considered and will be reflected as per the paydays of employees. The maximum limit for the payment of the bonus is 20%, and the minimum is 8.33%. Bonuses will be payable on an annual basis, and the period will be the accounting year, which is April to March. For further clarification, you can contact me.
Thanks & Regards,
Sunil Sharma
Mob: 9910126718
From India, New Delhi
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As per the Payment of Bonus Act 1965, a bonus is payable on basic wages if the company is giving D.A. to workers; then D.A. should also be considered in this calculation.
For the computation of the Bonus, Rs. 3500/- per month as basic will be considered and will be reflected as per the paydays of employees. The maximum limit for the payment of the bonus is 20%, and the minimum is 8.33%. Bonuses will be payable on an annual basis, and the period will be the accounting year, which is April to March. For further clarification, you can contact me.
Thanks & Regards,
Sunil Sharma
Mob: 9910126718
From India, New Delhi
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Its only calculated on your earned basic + DA of your last year salary the minimum bonus rate is 8.33 % and maximum as per your organisation ability.
From India, Pune
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From India, Pune
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Definition of "Salary or Wage" Under the Bonus Act
Under the Bonus Act, the definition of "Salary or wage" means all remuneration (other than remuneration in respect of overtime work) capable of being expressed in terms of money. This remuneration would be payable to an employee if the terms of employment, express or implied, were fulfilled, or for work done in such employment. It also includes dearness allowance, which refers to all cash payments, by whatever name called, paid to an employee on account of a rise in the cost of living.
There is a deficit in the definition of salary/wage regarding whether the Bonus is applicable to basic and DA only or if it includes all allowances for the cost of living (as per the above statement). Please provide supporting documents or proof for clarification.
From India, Chandigarh
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Under the Bonus Act, the definition of "Salary or wage" means all remuneration (other than remuneration in respect of overtime work) capable of being expressed in terms of money. This remuneration would be payable to an employee if the terms of employment, express or implied, were fulfilled, or for work done in such employment. It also includes dearness allowance, which refers to all cash payments, by whatever name called, paid to an employee on account of a rise in the cost of living.
There is a deficit in the definition of salary/wage regarding whether the Bonus is applicable to basic and DA only or if it includes all allowances for the cost of living (as per the above statement). Please provide supporting documents or proof for clarification.
From India, Chandigarh
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