Dear Sir,
I am writing to inquire about how the bonus will be calculated in the present situation when a minimum of 8.33% is to be given.
For example, let's consider one person who is receiving:
1. Basic for 365 days at 9000 X 12 = 108000/-. The calculation would be as follows:
9000 X 12 = 108000/- X 8.33% = 8996.40
3500 X 12 = 42000/- X 8.33% = 3498.60
Could you please confirm if the above calculation is correct, and also advise on the liability to pay to the staff?
Thank you,
Rakesh Srivastava
From India, Agra
Acknowledge(0)
Amend(0)
I am writing to inquire about how the bonus will be calculated in the present situation when a minimum of 8.33% is to be given.
For example, let's consider one person who is receiving:
1. Basic for 365 days at 9000 X 12 = 108000/-. The calculation would be as follows:
9000 X 12 = 108000/- X 8.33% = 8996.40
3500 X 12 = 42000/- X 8.33% = 3498.60
Could you please confirm if the above calculation is correct, and also advise on the liability to pay to the staff?
Thank you,
Rakesh Srivastava
From India, Agra
Acknowledge(0)Amend(0)
If Basic+DA is less than or equal to 10000 then calculation will be made on 3500. If Basic+DA is less than or equal to 3500 claculation will be made on actual Regards, Nilendra
Acknowledge(0)Amend(0)
18Acknowledge(0)Amend(0)
As per Bonus Act, bonus calculation will as under: 3500 X no. of months worked duing the FY X 8.33% = 3498.60 Regards, Jony_M
From India, New Delhi
Acknowledge(0)Amend(0)
From India, New Delhi
Acknowledge(0)Amend(0)
Dear,
The minimum payable bonus is 8.33% or Rs. 100, whichever is higher, and the maximum bonus payable is 20%. The company has to decide what percentage bonus it wants to pay. It's not mandatory that a company will pay either 8.33% or 20% only.
Regards,
Nilendra
Acknowledge(0)Amend(0)
The minimum payable bonus is 8.33% or Rs. 100, whichever is higher, and the maximum bonus payable is 20%. The company has to decide what percentage bonus it wants to pay. It's not mandatory that a company will pay either 8.33% or 20% only.
Regards,
Nilendra
Acknowledge(0)Amend(0)
1. If concern is in profit but allocable surplus is negative or equal to bonus @8.33% on 3500X12 = 42000, then what is the liability of bonus.
2. In the above situation, if earlier year bonus is calculated on 3500 X 12 = 42000 instead of 2500 X 12 = 36000, was this a wrong calculation? Is there any change in the calculation with this mistake?
RAKESH SRIVASTAVA
From India, Agra
Acknowledge(0)Amend(0)
2. In the above situation, if earlier year bonus is calculated on 3500 X 12 = 42000 instead of 2500 X 12 = 36000, was this a wrong calculation? Is there any change in the calculation with this mistake?
RAKESH SRIVASTAVA
From India, Agra
Acknowledge(0)Amend(0)
In addition to the Srivastava's comment, if the allocable surplus exceeds the amount of minimum bonus payable to the employees under that section, the employer shall, in place of the minimum bonus, be bound to pay to every employee in respect of that accounting year a bonus which shall be an amount in proportion to the salary or wage earned by the employee during the accounting year subject to a maximum of twenty percent of such salary or wage.
Acknowledge(0)Amend(0)
Acknowledge(0)Amend(0)
hi every body a small clarification regarding the calculation of bonus if an employee worked for 1.1 years then how bonus is calculated regards naveen
From India, Visakhapatnam
Acknowledge(0)Amend(0)
From India, Visakhapatnam
Acknowledge(0)Amend(0)
hi every body a small clarification regarding the calculation of bonus if an employee worked for 1.1 years and his Basic is 3500 then how bonus is calculated regards naveen
From India, Visakhapatnam
Acknowledge(0)Amend(0)
From India, Visakhapatnam
Acknowledge(0)Amend(0)
Dear Rakesh Srivasthava,
8.33% is the percentage form of 1/12, i.e., 100/12 = 8.33. So the minimum bonus is equivalent to one month's salary for one year. Accordingly, the maximum bonus will be 2.4 times one month's salary.
The salary ceiling for bonus coverage is Rs. 10,000, but for bonus payment, the ceiling limit is Rs. 3500 w.e.f.
If the allocable surplus is sufficient for only the minimum bonus, payment is done accordingly.
Abbas P.S.
From India, Bangalore
Acknowledge(0)Amend(0)
8.33% is the percentage form of 1/12, i.e., 100/12 = 8.33. So the minimum bonus is equivalent to one month's salary for one year. Accordingly, the maximum bonus will be 2.4 times one month's salary.
The salary ceiling for bonus coverage is Rs. 10,000, but for bonus payment, the ceiling limit is Rs. 3500 w.e.f.
If the allocable surplus is sufficient for only the minimum bonus, payment is done accordingly.
Abbas P.S.
From India, Bangalore
Acknowledge(0)Amend(0)
if an worker get per day wages of rs 305.6 than how bonus is calculated??
From India, Gurgaon
Acknowledge(0)Amend(0)
From India, Gurgaon
Acknowledge(0)Amend(0)
Dear sir, If the Employee is present for 335 days is he eligible for full bonus of 365 days? please suggest
From India, Mumbai
Acknowledge(0)Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
Statistics on violations Minimum Wages-Bonus Act.doc
Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf