On joining my gross salary was 10000/-(basic is 60%) which now increased to Rs 20000/-. Am i eligible for the bonus or not?
From India, Chandigarh
Acknowledge(0)
Amend(0)
From India, Chandigarh
Acknowledge(0)Amend(0)
You are eligible for a bonus under the Act as long as your basic salary is up to Rs. 10,000. Once your basic salary increases to more than Rs. 10,000 in any given month, you will no longer be eligible for the bonus.
Thank you.
Regards
From India, Mumbai
Acknowledge(0)Amend(0)
2584Thank you.
Regards
From India, Mumbai
Acknowledge(0)Amend(0)
Hi, If your current basic salary is 60 % of Rs. 20,000 then you are not eligible for bonus. But if your basic salary is up to Rs.10,000 then you are eligible for Bonus. Regards, Shikha.
From India, Mumbai
Acknowledge(0)Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)
Even if your salary crosses Rs. 10,000, you will receive a bonus on a pro-rata basis for the partial period within the bonus limit. If the salary exceeds Rs. 10,000 at the beginning of the financial year itself, a statutory bonus is not eligible.
Regards,
Abbas P.S
From India, Bangalore
Acknowledge(0)Amend(0)
Regards,
Abbas P.S
From India, Bangalore
Acknowledge(0)Amend(0)
Bonus is calculated over Basic and DA. One is eligible for a bonus until they draw basic + DA up to Rs. 10,000 per month. This is the eligibility condition for bonus entitlement. However, the bonus is to be calculated taking salary (basic + DA) as Rs. 3,500 only.
Regards
From India, Calcutta
Acknowledge(0)Amend(0)
Regards
From India, Calcutta
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.
SALARY SHEET CALCULATION.xls
Salary calculation.doc