AVIHR-- Your observation is absolutely right. The purpose of adding minimum wage was an after thought to avoid further modifications to the bonus ceiling limit, which would automatically gets updated along with hike in minimum wages. While the intention is noble, the hassles in implementing for PAN INDIA present companies is unavoidable. Also many people are still confused about the wage for calculation of Bonus should be Basic pay or Rs. 7000/MW which ever higher, which was clarified that the limit of 7000/MW is only for maximum amount of Bonus payable.
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Dear All,
please guide me which month minimum wage consider for bonus calculation.
March month or as per minimum wage for April to September as per minimum wage and October to March as per revised minimum wage.
Best Regards
please guide me which month minimum wage consider for bonus calculation.
March month or as per minimum wage for April to September as per minimum wage and October to March as per revised minimum wage.
Best Regards
Dear Annonymous, Greetings!! It will be calculated on 6000*8.33/100*12. BW more then Rs. 7000 then only it’ll be 7000*8.33/100*12. Rgds
From India, Delhi
From India, Delhi
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Bonus Calculation.xls
BONUS CALCULATION RULE (1).pdf