Dear Friends, Again I have uploaded the Bonus Calculation Format with some modifcation. Your suggestions are appreciated
From India, Pune
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47From India, Pune
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Dear Prashant,
In my opinion, we should write "bonus payable days" instead of "present days" in the bonus calculation sheet, as weekly off days cannot be considered as present days in a month. Submitted for consideration only.
Regards,
R.N. Khola
Skylark Associates, Gurgaon (Haryana)
(Labour Law & Legal Consultants)
09810405361
From India, Delhi
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In my opinion, we should write "bonus payable days" instead of "present days" in the bonus calculation sheet, as weekly off days cannot be considered as present days in a month. Submitted for consideration only.
Regards,
R.N. Khola
Skylark Associates, Gurgaon (Haryana)
(Labour Law & Legal Consultants)
09810405361
From India, Delhi
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Dear Prashant, Please review with some expert then post your add.the bonus format & its calculation send by you is totally wrong & unpractical. Best Regards Sajid Ansari-Delhi
From India, Delhi
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From India, Delhi
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Dear Mr. Prashanth, i thought we have to calculate up to 3500/- (Basic amount) am i right plz suggest me, With Regards-Prasad, 09008744009
From India, Bangalore
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From India, Bangalore
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Dear Mr. Prashant, Vineet here Presently I am working in a Water Purifier Company. Can u brief me what criteria you used for calculate the Bonus Thanks
From India, Chandigarh
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From India, Chandigarh
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Dear Mr. P.C. Gupta Ji,
Thank you for your email and concern.
Please note that we have already provided all the information related to bonus and gratuity. You can find it in the notes of the May 09 articles on the same site. If you are unable to locate it, please let me know so that I can forward the same contents to you.
Best Regards,
Sajid Ansari
Delhi
From India, Delhi
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Thank you for your email and concern.
Please note that we have already provided all the information related to bonus and gratuity. You can find it in the notes of the May 09 articles on the same site. If you are unable to locate it, please let me know so that I can forward the same contents to you.
Best Regards,
Sajid Ansari
Delhi
From India, Delhi
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Hi Friends Regarding Bonus Calculation, I am attached a XL file shows simple bonus calculation which will be useful. regards V. Ganesh Executive - HR
From India, Madras
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From India, Madras
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Hello Friends!!!!!!!!!!!!!!! Myself Meghna, working as HR in small firm, wants to change my firm having 4 years experience sales inshopper’s stop & 2 years in hr,
From India, Mumbai
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From India, Mumbai
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Thanks, Prashant. Can you please tell me how the present days are calculated? Is it just the number of days that the worker was physically present, or the number of days that he would have been present after taking into account his being absent (i.e., being absent even without having leave to his credit)?
Could Mr. Khola also shed some light on this? Thank you.
From India, Jaipur
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Could Mr. Khola also shed some light on this? Thank you.
From India, Jaipur
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Also, Prashant, it appears from your calculation that no one exceeds Rs. 3500 regardless of his wage - is there a yardstick for this? I have been paying as per whatever the wage is (even though bonus is not applicable to us being a charitable organization not for profit). I will be grateful if you let me know the details - as we still might give ex gratia if they work properly.
From India, Jaipur
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From India, Jaipur
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Dear Ganesh,
You are absolutely correct. We can follow Prashanth's format, but Mr. Ganesh's calculations are correct. Last year, we calculated the same thing for 250 employees.
Regards,
Prasad
9008744009
From India, Bangalore
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You are absolutely correct. We can follow Prashanth's format, but Mr. Ganesh's calculations are correct. Last year, we calculated the same thing for 250 employees.
Regards,
Prasad
9008744009
From India, Bangalore
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Dear Mr. Davinder,
Your calculation is correct, but you should consider up to 3500, which is the maximum amount as per the bonus act (new amendment, of which I have no knowledge). First, you need to consider Basic & DA as 3500 or whichever is less. Based on that, we should calculate the number of days present during the month. For example: [(3500(B & D)/26(T.W.D)*20(P.D.M, Assume)*8.33%], the final amount will be 224.
For any clarification, feel free to call me anytime at 9008744009.
With Regards,
Prasad
From India, Bangalore
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Your calculation is correct, but you should consider up to 3500, which is the maximum amount as per the bonus act (new amendment, of which I have no knowledge). First, you need to consider Basic & DA as 3500 or whichever is less. Based on that, we should calculate the number of days present during the month. For example: [(3500(B & D)/26(T.W.D)*20(P.D.M, Assume)*8.33%], the final amount will be 224.
For any clarification, feel free to call me anytime at 9008744009.
With Regards,
Prasad
From India, Bangalore
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Dear All,
An organization provides two types of bonuses: Festival Bonus and Production/Target-oriented bonus. Employees who have completed one year of service are entitled to the "Festival bonus," which is equal to two basic salaries for a fiscal year; otherwise, a pro-rata festival bonus will be applicable. However, this policy is not universal and varies from organization to organization. Some organizations provide Festival Bonus based on staff service confirmation.
Production/Target Bonus/Performance Bonus:
There is no fixed rule for this bonus; it depends on the organization's policies and practices. However, most organizations consider staff performance when determining this bonus.
Thank you.
From Bangladesh, Dhaka
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An organization provides two types of bonuses: Festival Bonus and Production/Target-oriented bonus. Employees who have completed one year of service are entitled to the "Festival bonus," which is equal to two basic salaries for a fiscal year; otherwise, a pro-rata festival bonus will be applicable. However, this policy is not universal and varies from organization to organization. Some organizations provide Festival Bonus based on staff service confirmation.
Production/Target Bonus/Performance Bonus:
There is no fixed rule for this bonus; it depends on the organization's policies and practices. However, most organizations consider staff performance when determining this bonus.
Thank you.
From Bangladesh, Dhaka
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BONUS CALCULATION FOR W.B.Govt employee for 2010-2011.xls