Dear Anonymous,Mr.Anil Jha and others,
Anil is saying that person has 41 working days during that Financial Year. why then confuse him?
The calculation showing with an example of Apex Management given by Mr. PK Sharma is correct.Anil, you take care of percentage part to arrive at bonus amount.
Regds,
RDS Yadav
Labour Law Advisor
navtaranghrs@gmail.com
08439811539
From India, Delhi
142Anil is saying that person has 41 working days during that Financial Year. why then confuse him?
The calculation showing with an example of Apex Management given by Mr. PK Sharma is correct.Anil, you take care of percentage part to arrive at bonus amount.
Regds,
RDS Yadav
Labour Law Advisor
navtaranghrs@gmail.com
08439811539
From India, Delhi
Dear Seniors,
i also have doubt to calculate bonus. one employer joining date is 23/5/2015 and she leave the company on 16/7/2016..
pls let me know how the bonus will be calculate for FY 2015-16 and For FY 2016-17, weather it will be calculate on earned wages or 7000 ceiling limit or on our state minimum wages,
Best Regard
Aman
From India, Jaipur
i also have doubt to calculate bonus. one employer joining date is 23/5/2015 and she leave the company on 16/7/2016..
pls let me know how the bonus will be calculate for FY 2015-16 and For FY 2016-17, weather it will be calculate on earned wages or 7000 ceiling limit or on our state minimum wages,
Best Regard
Aman
From India, Jaipur
Dear PK sharma,
in your earlier post you have calculate bonus on earned wages...but practically i have seen many HR & Labour Laws consultant who calculate the bonus either on 7000 ceiling limit or on state minimum wages whichever is higher...
pls clarify in which case bonus will be calculate on 7000 or state minimum wages,
Thanks,
Aman
From India, Jaipur
in your earlier post you have calculate bonus on earned wages...but practically i have seen many HR & Labour Laws consultant who calculate the bonus either on 7000 ceiling limit or on state minimum wages whichever is higher...
pls clarify in which case bonus will be calculate on 7000 or state minimum wages,
Thanks,
Aman
From India, Jaipur
Aman, you have to follow the law.
Bonus act is very clear.
You have to pay bonus in wages earned, subject to a ceiling of ₹7,000 or state minimum wages , whichever higher.
So, you need to pay higher of :
_ earned wages
_ higher of state minimum wages or ₹7,000
From India, Mumbai
Bonus act is very clear.
You have to pay bonus in wages earned, subject to a ceiling of ₹7,000 or state minimum wages , whichever higher.
So, you need to pay higher of :
_ earned wages
_ higher of state minimum wages or ₹7,000
From India, Mumbai
Dear All,
my query is.... supppose if employee basic salary is 15K PM then which formula will be used to calculate the bonus..
(1) 15000*8.34/100
(2) 7000*8.33/100
(3) 8234*8.33/100 (state minimum wages)
Regard
Aman
From India, Jaipur
my query is.... supppose if employee basic salary is 15K PM then which formula will be used to calculate the bonus..
(1) 15000*8.34/100
(2) 7000*8.33/100
(3) 8234*8.33/100 (state minimum wages)
Regard
Aman
From India, Jaipur
Aman, I think my answer twice earlier was clear enough. If you ask me the same thing again, the answer would be the same. In your case the answer is (3)
From India, Mumbai
From India, Mumbai
Dear P K Sharma
in this thread on post No 10 you have mentioned that bonus is calculated only on earned wages in this regard even i keen to know according to you what does the means of ceiling limit 7000/- however according to me bonus should be calculate either on 7000 or on minimum wages for the scheduled employment fixed by state govt whichever is higher. i have gone through this thread All the members has replied differently in this situation how can thread raiser get solution. any way i agree with saswata sir Dear P K Sir if you still stand in support of your answer i do request you to support your answer with Any relevant section, clause, case law,
Thanks & Regard
Devesh Chauhan
Practicing In Accounts, Finance, Taxation, Labour Laws,
From India, Basti
in this thread on post No 10 you have mentioned that bonus is calculated only on earned wages in this regard even i keen to know according to you what does the means of ceiling limit 7000/- however according to me bonus should be calculate either on 7000 or on minimum wages for the scheduled employment fixed by state govt whichever is higher. i have gone through this thread All the members has replied differently in this situation how can thread raiser get solution. any way i agree with saswata sir Dear P K Sir if you still stand in support of your answer i do request you to support your answer with Any relevant section, clause, case law,
Thanks & Regard
Devesh Chauhan
Practicing In Accounts, Finance, Taxation, Labour Laws,
From India, Basti
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THE PAYMENT OF BONUS ACT.doc