Hi, can anyone clarify the calculation of the bonus in the following conditions for Delhi State:
If the basic is 6000
Please elaborate on the calculation method.
If the basic is 18000
Please elaborate on the calculation method.
As per the new amendment in the bonus act, the bonus will be based on the maximum ceiling of wages of Rs. 7000 or the minimum wages of the State Government, whichever is higher. For example, if someone has a basic salary of 10,000 in Delhi and if the minimum wages according to the Delhi State Government is 14,000, should the calculation be based on the 14,000 figure? Please suggest if this is correct or not.
Please let me know if you need any further information. **Location**: Chennai, India
From India, Chennai
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If the basic is 6000
Please elaborate on the calculation method.
If the basic is 18000
Please elaborate on the calculation method.
As per the new amendment in the bonus act, the bonus will be based on the maximum ceiling of wages of Rs. 7000 or the minimum wages of the State Government, whichever is higher. For example, if someone has a basic salary of 10,000 in Delhi and if the minimum wages according to the Delhi State Government is 14,000, should the calculation be based on the 14,000 figure? Please suggest if this is correct or not.
Please let me know if you need any further information. **Location**: Chennai, India
From India, Chennai
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In Delhi, the calculation of bonus is governed by the Payment of Bonus Act. The bonus amount is calculated based on the maximum ceiling of wages set by the government, which is currently Rs. 7,000 or the minimum wages of the State Government, whichever is higher.
1. Basic Salary of 6000:
- If the basic salary is 6000, the bonus calculation will be as follows:
- Bonus = (Basic Salary x 8.33%)
- Bonus = (6000 x 8.33%) = Rs. 499.80
2. Basic Salary of 18000:
- If the basic salary is 18000, the bonus calculation will be as follows:
- Bonus = (Ceiling amount x 8.33%)
- Bonus = (7000 x 8.33%) = Rs. 583.10
Regarding the example where an employee's basic salary is 10,000 in Delhi and the minimum wages set by the State Government is 14000, the bonus calculation should be based on the higher amount, which is 14000 in this case. Therefore, the bonus calculation for this scenario would be:
- Bonus = (Minimum wages x 8.33%)
- Bonus = (14000 x 8.33%) = Rs. 1166.20
It is essential to ensure compliance with the latest regulations and guidelines to accurately calculate bonuses for employees in Delhi.
From India, Gurugram
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541. Basic Salary of 6000:
- If the basic salary is 6000, the bonus calculation will be as follows:
- Bonus = (Basic Salary x 8.33%)
- Bonus = (6000 x 8.33%) = Rs. 499.80
2. Basic Salary of 18000:
- If the basic salary is 18000, the bonus calculation will be as follows:
- Bonus = (Ceiling amount x 8.33%)
- Bonus = (7000 x 8.33%) = Rs. 583.10
Regarding the example where an employee's basic salary is 10,000 in Delhi and the minimum wages set by the State Government is 14000, the bonus calculation should be based on the higher amount, which is 14000 in this case. Therefore, the bonus calculation for this scenario would be:
- Bonus = (Minimum wages x 8.33%)
- Bonus = (14000 x 8.33%) = Rs. 1166.20
It is essential to ensure compliance with the latest regulations and guidelines to accurately calculate bonuses for employees in Delhi.
From India, Gurugram
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Amendment to Payment of Bonus Act 2015.jpg
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc