Hi Everyone,
Please suggest on the industry (BPO) practices of bonus percentage which is given yearly.
The Bonus Act says 8.33% of annual Basic+DA. But would like to know best industry practices.
Please note that I am not mentioning about retention bonus/Variable pay. I am mentioning about mandatory bonus as per bonus act.
Thanks,
Pranathi
From India, Bangalore
Please suggest on the industry (BPO) practices of bonus percentage which is given yearly.
The Bonus Act says 8.33% of annual Basic+DA. But would like to know best industry practices.
Please note that I am not mentioning about retention bonus/Variable pay. I am mentioning about mandatory bonus as per bonus act.
Thanks,
Pranathi
From India, Bangalore
Hi Pranathi, Just take month wise Basic + D.A then calculate total amount then calculate 8.33% Regards Kabali.R
From India, Chetpet
1From India, Chetpet
Minimum Bonus amount is 3500 or 8.33% Maximum Bonus amount is 10000 or 20% More than 20% is called Exgratia Regards Kabali.R
From India, Chetpet
From India, Chetpet
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf
Bonus-amendment _206.doc