3
The payment of bonus wages Act 1965
As per act Employee has to work minimum 30 days in the during financial year then he/she will eligible for Bonus.
Applicability:Employee drrawing <=10000 (Basic+DA) only will eligible for bonus
Minimum 8.33% of Basic+DA But the calculation of 8.33% should be done on 3500/- only
Maximum 20% of Basic+DA
lIMIT 3500/-
Regards
Charvaka Reddy
From India, Hyderabad
As per act Employee has to work minimum 30 days in the during financial year then he/she will eligible for Bonus.
Applicability:Employee drrawing <=10000 (Basic+DA) only will eligible for bonus
Minimum 8.33% of Basic+DA But the calculation of 8.33% should be done on 3500/- only
Maximum 20% of Basic+DA
lIMIT 3500/-
Regards
Charvaka Reddy
From India, Hyderabad
Hi,
The minimum bonus to be paid is 8.33% of BASIC + D.A and the maximum Bonus that can be paid is 20% of Basic + DA. The ceiling limit is Rs.3500.00
Eg: Bonus paid at 8.33%, following is the calculation
If the Employees Basic + DA = 3500, then bonus is 292 pm.
If the employees Basic + DA = 3500 or greater, then also the bonus is limited to 292 pm.
If the Employees Basic +DA = 3000, then bonus is 250 pm.
Eg: Bonus paid at 20%, following is the calculation
If the Employees Basic + DA = 3500, then bonus 700 pm.
If the employees Basic + DA = 3500 or greater, then also the bonus is limited to 700 pm.
If the Employees Basic +DA = 3000, then bonus is 600 pm.
Hope this is clear.
Regards
Giri
From India, Bangalore
The minimum bonus to be paid is 8.33% of BASIC + D.A and the maximum Bonus that can be paid is 20% of Basic + DA. The ceiling limit is Rs.3500.00
Eg: Bonus paid at 8.33%, following is the calculation
If the Employees Basic + DA = 3500, then bonus is 292 pm.
If the employees Basic + DA = 3500 or greater, then also the bonus is limited to 292 pm.
If the Employees Basic +DA = 3000, then bonus is 250 pm.
Eg: Bonus paid at 20%, following is the calculation
If the Employees Basic + DA = 3500, then bonus 700 pm.
If the employees Basic + DA = 3500 or greater, then also the bonus is limited to 700 pm.
If the Employees Basic +DA = 3000, then bonus is 600 pm.
Hope this is clear.
Regards
Giri
From India, Bangalore
Dear All,
For Ex : In the year 2010, Company's production started. Then from which year BONUS benefit will be given. Is there any time period.
Further, Once, Bonus given, is it required to give every year. Is it mandatory.
Request you please clarify.
Murali
From India, Hyderabad
For Ex : In the year 2010, Company's production started. Then from which year BONUS benefit will be given. Is there any time period.
Further, Once, Bonus given, is it required to give every year. Is it mandatory.
Request you please clarify.
Murali
From India, Hyderabad
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Bonus Calculation.xls
BONUS CALCULATION RULE (1).pdf