Dear All, Pls. let me know bonus is calculated on 3500/- is it right. what is 10,000/- in bonus case Pls help me because i have one case in my factory waiting for your reply karamvir
From India, Jhajjar
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6From India, Jhajjar
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Dear Mahr, Bonus is calculated on ₹3500/-, which means someone says that if anybody has worked 30 days in any year, that person will be eligible for a bonus. Is this correct? It means one person has worked for two years and then leaves the organization. How much bonus will that person be eligible for? Is this ₹3500/- including basic + DA correct?
From India, Jhajjar
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From India, Jhajjar
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Dear Karamvir,
The ₹10,000 limit is for applicability. This means that those whose basic salary is less than ₹10,000 per month are entitled to a bonus, and ₹3,500 is the maximum liability on the employer for the bonus. The employer can pay a bonus of more than ₹3,500 depending on the employer's policy. However, no one can claim a bonus of more than ₹3,500 for one year.
Thanks and best regards,
From India, New Delhi
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The ₹10,000 limit is for applicability. This means that those whose basic salary is less than ₹10,000 per month are entitled to a bonus, and ₹3,500 is the maximum liability on the employer for the bonus. The employer can pay a bonus of more than ₹3,500 depending on the employer's policy. However, no one can claim a bonus of more than ₹3,500 for one year.
Thanks and best regards,
From India, New Delhi
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Rs 10000/- the eligibility craite area and for coverage of employee, but the computation/calcution of Bonus shall be on Rs 35,00/- irrespective of what he is getting.
From India, Delhi
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From India, Delhi
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Re: Calculation of Bonus - Urgent Reply
Dear Gurav, please be guided by the information below for the payment of the bonus.
Two issues are to be considered:
Salary Eligibility for Bonus
If your salary is less than ₹10,000, you are eligible for a bonus as per the Act.
Bonus Calculation
The bonus shall be calculated on ₹3,500 if your salary is more than ₹3,500. Please refer to the example for more clarity.
Bonus Calculation Examples
Case A: Monthly wages greater than ₹3,500/-
- Gross Monthly Wages of Workman "A": ₹5,190
- Bonus Payable Wages of Workman "A": ₹3,500
- Bonus Payable at the existing rate assuming that the workman comes regularly: ₹3,500 * Bonus rate * 12 months
Case B: Gross Monthly wages less than ₹3,500/-
- Gross Monthly Wages of Workman "B": ₹3,120
- Bonus Payable Wages of Workman "B": ₹3,120
- Bonus Payable at the existing rate assuming that the workman comes regularly every month: ₹3,120 * Bonus rate * 12 months
Please click the link below for more information: https://www.citehr.com/124677-calcul...#ixzz0lvRz8Xku
Regards
From United States
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Dear Gurav, please be guided by the information below for the payment of the bonus.
Two issues are to be considered:
Salary Eligibility for Bonus
If your salary is less than ₹10,000, you are eligible for a bonus as per the Act.
Bonus Calculation
The bonus shall be calculated on ₹3,500 if your salary is more than ₹3,500. Please refer to the example for more clarity.
Bonus Calculation Examples
Case A: Monthly wages greater than ₹3,500/-
- Gross Monthly Wages of Workman "A": ₹5,190
- Bonus Payable Wages of Workman "A": ₹3,500
- Bonus Payable at the existing rate assuming that the workman comes regularly: ₹3,500 * Bonus rate * 12 months
Case B: Gross Monthly wages less than ₹3,500/-
- Gross Monthly Wages of Workman "B": ₹3,120
- Bonus Payable Wages of Workman "B": ₹3,120
- Bonus Payable at the existing rate assuming that the workman comes regularly every month: ₹3,120 * Bonus rate * 12 months
Please click the link below for more information: https://www.citehr.com/124677-calcul...#ixzz0lvRz8Xku
Regards
From United States
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Dear employees,
Employees who have worked for a minimum of 30 days in the accounting year and are drawing a salary of Rs. 10,000 or less will be eligible for the payment of Bonus. However, it will be calculated on the basis of a monthly salary of Rs. 3,500.
Thank you,
Mahesh Pandey
From India, Calcutta
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Employees who have worked for a minimum of 30 days in the accounting year and are drawing a salary of Rs. 10,000 or less will be eligible for the payment of Bonus. However, it will be calculated on the basis of a monthly salary of Rs. 3,500.
Thank you,
Mahesh Pandey
From India, Calcutta
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Hi Karamvir,
₹10,000 is the ceiling, which means employees with a salary less than or equal to ₹10,000 (Basic + DA) are only eligible for a bonus. This is the criteria. However, the calculation ceiling is ₹3,500. The monthly calculated salary cannot be more than this even if a person has a basic of ₹10,000.
Example:
Employee A - Basic + DA - ₹8,000
Calculation - ₹3,500 * % will be the bonus for him based on the number of months worked.
Regards
From India, Delhi
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₹10,000 is the ceiling, which means employees with a salary less than or equal to ₹10,000 (Basic + DA) are only eligible for a bonus. This is the criteria. However, the calculation ceiling is ₹3,500. The monthly calculated salary cannot be more than this even if a person has a basic of ₹10,000.
Example:
Employee A - Basic + DA - ₹8,000
Calculation - ₹3,500 * % will be the bonus for him based on the number of months worked.
Regards
From India, Delhi
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Bonus Calculation Simplified
Bonus calculation is so simple. Please do it in a simple way:
1. If the salary is equal to or less than ₹3,500, then take the real amount of basic.
2. If the salary range is greater than ₹3,500 and less than ₹10,000, or equal to ₹10,000, then assume it as ₹3,500.
For example, suppose an employee "A" has a basic salary of ₹5,000. In January, his net payable is ₹5,000, February = ₹4,900, March = ₹5,000, April = ₹2,500, etc., until December.
Write down all months first in a column of the sheet, i.e., January, February to December. Secondly, put ₹3,500 in the January column, ₹3,500 in the February column, similarly, ₹3,500 in March, and ₹2,500 in April. Then in the total column = January + February + March + April, in the bonus column = total column * Y%.
Here, Y = minimum 8.33% to 20%, depending on the company's profit and rules. Hope this helps you all.
From India, Angul
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Bonus calculation is so simple. Please do it in a simple way:
1. If the salary is equal to or less than ₹3,500, then take the real amount of basic.
2. If the salary range is greater than ₹3,500 and less than ₹10,000, or equal to ₹10,000, then assume it as ₹3,500.
For example, suppose an employee "A" has a basic salary of ₹5,000. In January, his net payable is ₹5,000, February = ₹4,900, March = ₹5,000, April = ₹2,500, etc., until December.
Write down all months first in a column of the sheet, i.e., January, February to December. Secondly, put ₹3,500 in the January column, ₹3,500 in the February column, similarly, ₹3,500 in March, and ₹2,500 in April. Then in the total column = January + February + March + April, in the bonus column = total column * Y%.
Here, Y = minimum 8.33% to 20%, depending on the company's profit and rules. Hope this helps you all.
From India, Angul
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