May I know the what should be taken as a base to calculate the amount of bonus and what are the % of bonus?
From India
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1From India
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as per my knowledge Bonus calculation on Basic Salary*8.33%
From India, New Delhi
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From India, New Delhi
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While calculating the bonus, the following points should be kept in mind:
1. All employees drawing a salary/wages of Rs. 21,000 and below are eligible.
2. The base to calculate the bonus is Rs. 7,000 or as per their skill category of work, but the minimum base will remain at Rs. 7,000.
3. The minimum bonus as per Section 10 shall be 8.33%, and the maximum shall be 20%.
4. The minimum working eligibility in the establishment is 30 days or more as per Section 8.
Ratan Bhardwaj
VOPL Prithla
From India, Noida
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1. All employees drawing a salary/wages of Rs. 21,000 and below are eligible.
2. The base to calculate the bonus is Rs. 7,000 or as per their skill category of work, but the minimum base will remain at Rs. 7,000.
3. The minimum bonus as per Section 10 shall be 8.33%, and the maximum shall be 20%.
4. The minimum working eligibility in the establishment is 30 days or more as per Section 8.
Ratan Bhardwaj
VOPL Prithla
From India, Noida
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I suggest you read the Payment of Bonus Act and understand how bonus is calculated. Also the workings are provided many times on this forum, so you can search for the posts and read from it
From India, Mumbai
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From India, Mumbai
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For example
Example 1. minimum wages as per Govt notification, the skill category of Mr. John is Rs. 6900/- pm, but for calculating his bonus, base shall be Rs. 7000/- not 6900/-. For calculating the bonus, the base should be Rs. 7000/- or individual’s skill category, whichever is higher, as per Govt gazette notification on bonus.
Example 2. minimum wages as per skill category of Mr. John is Rs. 10000/- pm, then for calculating his bonus, base will be Rs. 10000/- not 7000/- because the clause, whichever is higher, will apply.
Please refer law and Govt gazette notifications before taking any decision.
Thanks
Ratan Bhardwaj
VOPL Prithla
From India, Noida
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Example 1. minimum wages as per Govt notification, the skill category of Mr. John is Rs. 6900/- pm, but for calculating his bonus, base shall be Rs. 7000/- not 6900/-. For calculating the bonus, the base should be Rs. 7000/- or individual’s skill category, whichever is higher, as per Govt gazette notification on bonus.
Example 2. minimum wages as per skill category of Mr. John is Rs. 10000/- pm, then for calculating his bonus, base will be Rs. 10000/- not 7000/- because the clause, whichever is higher, will apply.
Please refer law and Govt gazette notifications before taking any decision.
Thanks
Ratan Bhardwaj
VOPL Prithla
From India, Noida
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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