Dear Seniors, I want to know about bonus rule /act, and calculation method. can any one provide current bonus rule, eligibility, calculation. Regards Mukesh Singh
From India, New Delhi
9From India, New Delhi
Dear Mukesh,
Eligibility ; He /she has to work min 30 physical working days in an accounting year.
Calculation Example:
If salary is 7500/- per month
Basic : 2000 per month
DA : 1500 per month
HRA : 4000 per month
Basic + DA : (2000+1500)*8.33%*12months = 3500 per Annam (Min Bonus)
Basic + DA : (2000+1500)*20%*12months = 8400 per Annam (Max Bonus)
Bonus payment should not less than Min Bonus.
For Rules you have to go through the Payment of Bonus Act 1965
From India, Rajamahendri
Eligibility ; He /she has to work min 30 physical working days in an accounting year.
Calculation Example:
If salary is 7500/- per month
Basic : 2000 per month
DA : 1500 per month
HRA : 4000 per month
Basic + DA : (2000+1500)*8.33%*12months = 3500 per Annam (Min Bonus)
Basic + DA : (2000+1500)*20%*12months = 8400 per Annam (Max Bonus)
Bonus payment should not less than Min Bonus.
For Rules you have to go through the Payment of Bonus Act 1965
From India, Rajamahendri
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf