Dear All Seniors
please clarify my query regarding bonus calculation
RAM joined on 01.05.2015 and left on 31.05.2015 his salary was Basic 6000 HRA 1000 total 7000
his attendance is--
may-2015- work days 25 weekly off 5 absent-01 (note company paid him 30 days salary but in 30 days 05 days were weekly off)
is he entitle for the bonus or Not, if yes then what will be the bonus amount.
From India, Faridabad
36please clarify my query regarding bonus calculation
RAM joined on 01.05.2015 and left on 31.05.2015 his salary was Basic 6000 HRA 1000 total 7000
his attendance is--
may-2015- work days 25 weekly off 5 absent-01 (note company paid him 30 days salary but in 30 days 05 days were weekly off)
is he entitle for the bonus or Not, if yes then what will be the bonus amount.
From India, Faridabad
Dear Maheshfaridabad,
Minimum attendance to get bonus in a financial year is 30 days. Number of working days and holidays are not connected with bonus.
Accordingly the above employee is eligible to get bonus.
Abbas.P.S
From India, Bangalore
Minimum attendance to get bonus in a financial year is 30 days. Number of working days and holidays are not connected with bonus.
Accordingly the above employee is eligible to get bonus.
Abbas.P.S
From India, Bangalore
There was one day leave without pay
So he actually worked for 29 days. Weekly off are counted as working days but I think LWP is not
So, does he still get bonus ?
(I know the amount is so small it hardly matters but I wish to understand the principal)
From India, Mumbai
So he actually worked for 29 days. Weekly off are counted as working days but I think LWP is not
So, does he still get bonus ?
(I know the amount is so small it hardly matters but I wish to understand the principal)
From India, Mumbai
Assuming that the date of leaving is on 31.05.2015, the days paid in May-15 is 30 and eligible for the wages of Rs.3500.
From India, Tiruchchirappalli
From India, Tiruchchirappalli
Assuming that the date of leaving is 31.05.2015, as the days paid for May-15 is 30, eligible for bonus for Rs.3500.
From India, Tiruchchirappalli
From India, Tiruchchirappalli
Yes, I miscounted the dates. But suppose this was April instead of May, which would be a 30 days month, in that case if he had one day LWP, would he be eligible or ineligible for bonus ?
From India, Mumbai
From India, Mumbai
Dear all
thanks for your valuable reply reached that during the entitlement of bonus , employee need 30 days work in financial year
30 days mean paid paid
now my query is there
RAM joined on 01.05.2015 and left on 31.05.2015 his salary was Basic 6000 HRA 1000 total 7000
his attendance is 30 only
plz note
month days 31
paid days 30
what will be the bonus amount if company is giving @ 8.33 percent
3500/31*30*8.33% = 282
or simply 3500*8.33%=292
From India, Faridabad
thanks for your valuable reply reached that during the entitlement of bonus , employee need 30 days work in financial year
30 days mean paid paid
now my query is there
RAM joined on 01.05.2015 and left on 31.05.2015 his salary was Basic 6000 HRA 1000 total 7000
his attendance is 30 only
plz note
month days 31
paid days 30
what will be the bonus amount if company is giving @ 8.33 percent
3500/31*30*8.33% = 282
or simply 3500*8.33%=292
From India, Faridabad
Dear Mr.Saswata Banerjee, The query is regarding bonus for 30 days' attendance in May 2015. Then why do you imagine about April? Abbas.P.S
From India, Bangalore
From India, Bangalore
I am trying to determine the principal behind it and to understand it in a manner that will allow me to apply it to a different situation. Which is why I would like to know what would happen if this was in April with 30 working days and 1 LWP.
After all, we are here to enhance our knowledge and for me, that is to understand the problem form angles which I am not currently confident about. :)
From India, Mumbai
After all, we are here to enhance our knowledge and for me, that is to understand the problem form angles which I am not currently confident about. :)
From India, Mumbai
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Bonus Calculation.xls
BONUS CALCULATION RULE (1).pdf