Dear all respected seniors,
I have a some query in my mind related to Bonus and ex gratia and I hope you all will be solve all the query are below mentioned.
1. If one’s candidate basic salary is Rs.5000 in the month of Nov and after 3 month he/ she got increment and basic salary become Rs.6 000 in a month if he/she want leave the job next month after appraisal then what basic salary will be calculate in case of bonus calculation.
2. When Bonus will applicable in a company
3. Bonus and ex gratia both can be received to a particular employee if yes then what will be condition.
From India, Noida
9I have a some query in my mind related to Bonus and ex gratia and I hope you all will be solve all the query are below mentioned.
1. If one’s candidate basic salary is Rs.5000 in the month of Nov and after 3 month he/ she got increment and basic salary become Rs.6 000 in a month if he/she want leave the job next month after appraisal then what basic salary will be calculate in case of bonus calculation.
2. When Bonus will applicable in a company
3. Bonus and ex gratia both can be received to a particular employee if yes then what will be condition.
From India, Noida
Mr. Singh
Following are the explanation for yours question
1-Bonus calculate on the earning of every month basic wage, min 8.33% and maximum 20% .
Note: it will calculate on actual basic earning
2-For first five year if company earn profit they have to give bonus but after five year it is mandatory to give bonus if company have profit or not
3-Bonus for those have basic salary less than Rs.10000 per month and for above we can use term exgratia
If you need further clarification you can ask for more detail
Regards
Anurag
From India, Hyderabad
Following are the explanation for yours question
1-Bonus calculate on the earning of every month basic wage, min 8.33% and maximum 20% .
Note: it will calculate on actual basic earning
2-For first five year if company earn profit they have to give bonus but after five year it is mandatory to give bonus if company have profit or not
3-Bonus for those have basic salary less than Rs.10000 per month and for above we can use term exgratia
If you need further clarification you can ask for more detail
Regards
Anurag
From India, Hyderabad
Thank you for reply sir but some confusion also remaining so please clear sir
Point 1:- will bonus calculate very month basic salary
Point3:- can anyone get both bonus and ex gratia in case of basic salary more than Rs. 10000
Regards
Cp Singh
From India, Noida
Point 1:- will bonus calculate very month basic salary
Point3:- can anyone get both bonus and ex gratia in case of basic salary more than Rs. 10000
Regards
Cp Singh
From India, Noida
Bonus will be computed on the total actual basic salary paid to the employee for the entire year.
In your case, it will be ₹5000x3+₹6000x2
However, the maximum salary limit in the act is ₹3500 per month
So it will be ₹3500 x 5 in your case.
Bonus rate will be between 8.33% and 20% of the above amount, depending on how much profit the company made in that year. It gets computed as provided in the act and paid within 8 month from end of the financial year.
Ex gratis is an amount paid by the company at its discretion.
So If the company decides to give it, it can give irrespective of whether the person got bonus or not. If not, then that also is complete the company choice.
From India, Mumbai
In your case, it will be ₹5000x3+₹6000x2
However, the maximum salary limit in the act is ₹3500 per month
So it will be ₹3500 x 5 in your case.
Bonus rate will be between 8.33% and 20% of the above amount, depending on how much profit the company made in that year. It gets computed as provided in the act and paid within 8 month from end of the financial year.
Ex gratis is an amount paid by the company at its discretion.
So If the company decides to give it, it can give irrespective of whether the person got bonus or not. If not, then that also is complete the company choice.
From India, Mumbai
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