To calculate the bonus percentage in your case, we need to consider the provisions of the Payment of Bonus Act, 1965 in India. The bonus percentage is calculated based on the allocable surplus and the salary and wages paid during the financial year.
Given that your total allocable surplus is Rs. 1 crore and the salary and wages amount to Rs. 45 lakhs, we can proceed with the calculation:
1. Calculate the available surplus for bonus distribution:
- Total allocable surplus: Rs. 1 crore
- Deduct the minimum statutory amount for payment of bonus (8% already paid as Advance Bonus): Rs. 8 lakhs
- Available surplus: Rs. 1 crore - Rs. 8 lakhs = Rs. 92 lakhs
2. Determine the amount available for bonus distribution among all employees:
- Total salary and wages: Rs. 45 lakhs
- Calculate the bonus percentage: (Available surplus / Total salary and wages) * 100
- Bonus percentage = (Rs. 92 lakhs / Rs. 45 lakhs) * 100 = 204.44%
Therefore, based on the calculations, the bonus percentage in your case would be approximately 204.44%, which exceeds the assumed 20%. It's important to ensure compliance with the legal requirements and regulations while finalizing the bonus distribution among employees.