Hi, I want to know how to calculate bonus. what are the limitations for bonus and what are the criteria for the bonus calculation. please reply me prameela
From India, Bangalore
From India, Bangalore
Hi, You can pay 8.33% of gross as Bonus for the year (or) Fixed one month salary for the year. Regards. Vishnu
From India, Hyderabad
2From India, Hyderabad
Hi, its 12 months Basic&DA of Accounting year *8.33% to 20%. Ex: 48000*10% = 4800/- Min 8% and Max 20%.
From India, Bangalore
From India, Bangalore
Hi,
Assuming that you mean monthly paid employees then those who are in receipt of less than Rs.10000 as salary and have worked for at least 30 days are eligible to get bonus. Bonus is paid as a percentage of total salary drawn during the year.
But do not forget while computing total salary drawn during that financial year monthly salary will be taken as Rs.3500 for those who are receiving salary above Rs.3500 and below Rs.10000-.
Bonus percentage may be decided in mutual agreement between employees and employer and this also on the basis of availability of allocable surplus as per the register maintained by the employer as per Bonus act.
Regards
From India, New Delhi
Assuming that you mean monthly paid employees then those who are in receipt of less than Rs.10000 as salary and have worked for at least 30 days are eligible to get bonus. Bonus is paid as a percentage of total salary drawn during the year.
But do not forget while computing total salary drawn during that financial year monthly salary will be taken as Rs.3500 for those who are receiving salary above Rs.3500 and below Rs.10000-.
Bonus percentage may be decided in mutual agreement between employees and employer and this also on the basis of availability of allocable surplus as per the register maintained by the employer as per Bonus act.
Regards
From India, New Delhi
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Bonus Calculation.xls
BONUS CALCULATION RULE (1).pdf