Dear Concern,
Could you please let me know that, If a consultancy is under Shop & Establishment act is the consultancy must release the bonus to staff or It depends on Employer wish. please let me know.
From India, Bengaluru
1Could you please let me know that, If a consultancy is under Shop & Establishment act is the consultancy must release the bonus to staff or It depends on Employer wish. please let me know.
From India, Bengaluru
Dear All,
I Want to Know, how to Calculate Bonus, through this Example. Some One Gross Salary Rs. 25000/- & his salary Structure ( Basic All.- 12500, Hra All.- 6250, Medical All-1250, T.A.-1600, Other All.-3400). & his is Working 6 Months. & he is working which state where Minimum Wages Rs. 13000/-) so Please Resolved My Qurery.
1. Bonus is Calculate on (Basic+DA) or Gross Earn Salary ?
2. He is eligible or Not ( According to Wages Celling Limit Rs. 7000/- to 21000/-) ?
3.. His Bonus Caluclate on which Basic ( Rs. 12500/- or Rs. 13000/-) ?
From India
I Want to Know, how to Calculate Bonus, through this Example. Some One Gross Salary Rs. 25000/- & his salary Structure ( Basic All.- 12500, Hra All.- 6250, Medical All-1250, T.A.-1600, Other All.-3400). & his is Working 6 Months. & he is working which state where Minimum Wages Rs. 13000/-) so Please Resolved My Qurery.
1. Bonus is Calculate on (Basic+DA) or Gross Earn Salary ?
2. He is eligible or Not ( According to Wages Celling Limit Rs. 7000/- to 21000/-) ?
3.. His Bonus Caluclate on which Basic ( Rs. 12500/- or Rs. 13000/-) ?
From India
First of all % of Bonus for any organization has to be determined as per Bonus Schedule as applicable from Gross Profit from P & L Account, available surplus, allocable surplus, Set On & Set off.
Now for calculating Bonus for eligible individual will be calculated based on the basic & da 7000/- or minimum wages whichever is higher. For any employee if the basic & da is less tha 7000/- , then it will be on the basis of actual basic and da.
Bonus is a deferred wages and if any employee had basic and da up to 21,000/- previous year would be eligible for bonus in the current year.
Many organizations are paying Bonus on adhoc basis 8.33% without calculating actual % of bonus as per PB Act. In wage code it is now crystal clear that any organization may pay bonus customary, but it has to be calculated on the basis of Wage Code as mentioned above and if there is any short fall the same has to be paid again.
Therefore, it is now must for all organizations to calculate bonus as per Wage Code.
S K Bandyopadhyay ( WB, HOWRAH)
From India, New Delhi
Now for calculating Bonus for eligible individual will be calculated based on the basic & da 7000/- or minimum wages whichever is higher. For any employee if the basic & da is less tha 7000/- , then it will be on the basis of actual basic and da.
Bonus is a deferred wages and if any employee had basic and da up to 21,000/- previous year would be eligible for bonus in the current year.
Many organizations are paying Bonus on adhoc basis 8.33% without calculating actual % of bonus as per PB Act. In wage code it is now crystal clear that any organization may pay bonus customary, but it has to be calculated on the basis of Wage Code as mentioned above and if there is any short fall the same has to be paid again.
Therefore, it is now must for all organizations to calculate bonus as per Wage Code.
S K Bandyopadhyay ( WB, HOWRAH)
From India, New Delhi
Dear All,
Tamil Nadu DA Notification 2021-22,Tamil Nadu Minimum Wages (Tailoring, Hosiery, Security Guards, Dyeing and Bleaching, Weaving, General Engineering, Oil Industry) Notification 2021-22
https://t.me/vakaudit
+919600420045
From India, Coimbatore
Tamil Nadu DA Notification 2021-22,Tamil Nadu Minimum Wages (Tailoring, Hosiery, Security Guards, Dyeing and Bleaching, Weaving, General Engineering, Oil Industry) Notification 2021-22
https://t.me/vakaudit
+919600420045
From India, Coimbatore
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Bonus act amendment gazette copy.pdf
THE PAYMENT OF BONUS ACT.doc