I want to know how to calculate a bonus. I have been calculating the bonus based on the number of days an employee is present. For example, if an employee's total attendance is 15 days in a month, then they have earned 146 (292 * 12 = 3500 Rs) rupees as per the rule of 3500 Rs in the financial year. Is this calculation correct?
Thank you.
From India, Madurai
Acknowledge(0)
Amend(0)
Thank you.
From India, Madurai
Acknowledge(0)Amend(0)
Bonus calculate on the earning of every month basic wage, min 8.33% and maximum 20% . Note: it will calculate on actual basic earning
From India, Noida
Acknowledge(1)Amend(0)
9From India, Noida
Acknowledge(1)Amend(0)
First of all, if that employee has worked only for 15 days in that year, then he is not eligible for a bonus. If you are inquiring from a calculation point of view, then the calculation will be as follows: the bonus will be calculated on the Basic Wages subject to the ceiling of Rs. 10,000/- (Only those employees whose basic is less than or equal to Rs. 10,000/- are eligible for the bonus).
If in your case an employee is receiving Rs. 6,500/- as basic wages, then Rs. 3,500/- will be considered to calculate the bonus. As you mentioned that he worked for 15 days in a month, his bonus would be calculated as follows:
Basic Calculation: Ceiling Rs. 3,500/ 26 * 15 = 2019
Bonus: 2019 * 8.33% = Rs. 168/-
Regards,
Jitender
From India, New Delhi
Acknowledge(0)Amend(0)
If in your case an employee is receiving Rs. 6,500/- as basic wages, then Rs. 3,500/- will be considered to calculate the bonus. As you mentioned that he worked for 15 days in a month, his bonus would be calculated as follows:
Basic Calculation: Ceiling Rs. 3,500/ 26 * 15 = 2019
Bonus: 2019 * 8.33% = Rs. 168/-
Regards,
Jitender
From India, New Delhi
Acknowledge(0)Amend(0)
Sir , If calculating 3 month bonus then how can calculate and for get bonus how many days work will have to do Regards Cp Singh
From India, Noida
Acknowledge(0)Amend(0)
From India, Noida
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 FOR W.B.Govt employee for 2010-2011.xls
BONUS CALCULATION RULE (1).pdf