Dear Freiends ,
Can anybody tell me how to calculate bonus if sealing is rs. 3500 & employee is present for 24 days insted of 26 days
then the calculation of bonus is to be treated as 3500 / 26 = 134.61
if Employee is absent but his wages are more than 3500 in that case how to calculate bonus 134.61 X 24 = 3230
then 3230 X 8.33 % = 269
Is it correct calculation or wages to be consider for 24 days 3500 ?
Kindly reply it is urgent
Thanks in advance
From India, Mumbai
2Can anybody tell me how to calculate bonus if sealing is rs. 3500 & employee is present for 24 days insted of 26 days
then the calculation of bonus is to be treated as 3500 / 26 = 134.61
if Employee is absent but his wages are more than 3500 in that case how to calculate bonus 134.61 X 24 = 3230
then 3230 X 8.33 % = 269
Is it correct calculation or wages to be consider for 24 days 3500 ?
Kindly reply it is urgent
Thanks in advance
From India, Mumbai
Dear You are thinking in right direction. But employee must be entitled for such as per eligibility.
From India
From India
Dear , Thanks for your post , Can you provide any legal openion on this or any clause , which is stating the validation of the mention case Regards, Vilas
From India, Mumbai
From India, Mumbai
Dear Vilas Jadav,
Bonus will be calculated on a monthly ceiling salary of Rs. 3500. i.e if he is ebtitled to get minimum bonus, for full attendance bonus is Rs. 3500. But to get bonus at prorata basis, he should have at least 30 days attendance in a financial year. Therefore, there is question of bonus for merely 24 or 26 days.
Abbas.P.S
From India, Bangalore
Bonus will be calculated on a monthly ceiling salary of Rs. 3500. i.e if he is ebtitled to get minimum bonus, for full attendance bonus is Rs. 3500. But to get bonus at prorata basis, he should have at least 30 days attendance in a financial year. Therefore, there is question of bonus for merely 24 or 26 days.
Abbas.P.S
From India, Bangalore
Dear friends,
Please Let me know about the bonus calculation..
*Is the calculation based on accounting year or on per Annual.
*If it on accounting year on which it is based and what is percentage for used in calculation.
*who fixes the wages Central Government or state government.
with regards
Aparna Nanda
From India, Hyderabad
Please Let me know about the bonus calculation..
*Is the calculation based on accounting year or on per Annual.
*If it on accounting year on which it is based and what is percentage for used in calculation.
*who fixes the wages Central Government or state government.
with regards
Aparna Nanda
From India, Hyderabad
1. Bonus calculation is based on accounting year.
2. Bonus calculation is based on salary, but the percentage is based on Allocable surplus.
3. Wages are variable for various bodies, which will be arrived in compliance with the pay commission reports/ in consultation with the Employees' Unions.
Abbas.P.S
From India, Bangalore
2. Bonus calculation is based on salary, but the percentage is based on Allocable surplus.
3. Wages are variable for various bodies, which will be arrived in compliance with the pay commission reports/ in consultation with the Employees' Unions.
Abbas.P.S
From India, Bangalore
Dear Mr. Abbas
If the total basic salary or wages exceeds Rs. 3500/- then create the formula (3500/No of working days in the month(it may be 24/25/26/27)) * No of days present by the employee/workmen. * Bonus %age.
This is the correct way.
But some organisation is following in another way. If the wages exceeds Rs.3500/- even if a workmen present for 13 days or 27 days immaterial, they are making 3500 and if it is less then they are mentioning the actual.
This is their own way of interpretation.
With warm regards
S. Bhaskar
9099024667
From India, Kumbakonam
If the total basic salary or wages exceeds Rs. 3500/- then create the formula (3500/No of working days in the month(it may be 24/25/26/27)) * No of days present by the employee/workmen. * Bonus %age.
This is the correct way.
But some organisation is following in another way. If the wages exceeds Rs.3500/- even if a workmen present for 13 days or 27 days immaterial, they are making 3500 and if it is less then they are mentioning the actual.
This is their own way of interpretation.
With warm regards
S. Bhaskar
9099024667
From India, Kumbakonam
Dear Bhaskar,
Replace number of woking days with the number of total days in a calender month and number of days present by number of attendance (including holidays and eligible leave, but LWOP will be excluded). Then your formula will be correct for one month.
i.e "3500/No of working days in the month(it may be 24/25/26/27)) * No of days present by the employee/workmen. * Bonus %age" is wrong.
3500/No of total days in the month(it may be 28 to 31)) * No of days present by the employee/workmen. * Bonus %age is correct for that particular month.
Abbas.P.S
From India, Bangalore
Replace number of woking days with the number of total days in a calender month and number of days present by number of attendance (including holidays and eligible leave, but LWOP will be excluded). Then your formula will be correct for one month.
i.e "3500/No of working days in the month(it may be 24/25/26/27)) * No of days present by the employee/workmen. * Bonus %age" is wrong.
3500/No of total days in the month(it may be 28 to 31)) * No of days present by the employee/workmen. * Bonus %age is correct for that particular month.
Abbas.P.S
From India, Bangalore
Dear sir,
Thank you,for giving me immediate response regarding bonus
*Is there any particular thing that wages to be to be fixed by state government or central government.
*As Per Government Norms is there any Particular percentages for calculating HRA,DA,TA,PF,ESI,Medical Issues etc., as salary statement
Plz...Can any one suggest me a book or a web site to go for further reference regarding salary calculations,and percentages taken for it according to private sector and government norms
with regards
Aparna Nanda
From India, Hyderabad
Thank you,for giving me immediate response regarding bonus
*Is there any particular thing that wages to be to be fixed by state government or central government.
*As Per Government Norms is there any Particular percentages for calculating HRA,DA,TA,PF,ESI,Medical Issues etc., as salary statement
Plz...Can any one suggest me a book or a web site to go for further reference regarding salary calculations,and percentages taken for it according to private sector and government norms
with regards
Aparna Nanda
From India, Hyderabad
hi .....
i heard that their are various ways to calculate bonus.....
i have basic knowledge about bonus
1) will be payable to employee who work in organisation for 30 days
2) basic salary should be less than or up to Rs.10,000.
3) bonus percentage minimum 8.33% and maximum 20%
but not clear about the calculation
confused about 3,500 funda and set off and set on
please i know that u cant spoon feed me but plzzz give me some examples about the same...........and all those who are reading this....
thanks
From India, Mumbai
i heard that their are various ways to calculate bonus.....
i have basic knowledge about bonus
1) will be payable to employee who work in organisation for 30 days
2) basic salary should be less than or up to Rs.10,000.
3) bonus percentage minimum 8.33% and maximum 20%
but not clear about the calculation
confused about 3,500 funda and set off and set on
please i know that u cant spoon feed me but plzzz give me some examples about the same...........and all those who are reading this....
thanks
From India, Mumbai
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Bonus Calculation.xls
BONUS CALCULATION RULE (1).pdf