Hi
Can any one let me know that i am eligible for statutory bonus or not.
Basic 11000 revised in the month of Nov'18 12000
HRA 4400 revised in the month of Nov'18 4800
No DA
I am from HYD.
kindly let me know the calculation, Thanks
From India, Bengaluru
Can any one let me know that i am eligible for statutory bonus or not.
Basic 11000 revised in the month of Nov'18 12000
HRA 4400 revised in the month of Nov'18 4800
No DA
I am from HYD.
kindly let me know the calculation, Thanks
From India, Bengaluru
Dear Hyderabadi,
You are eligible for Bonus amount of Rs. 7,000/- or as per the applicable Minimum Wages, whichever is higher.
You have not mentioned in what capacity you are working (Your Designation) accordingly the working can be provided.
Regards,
Suresh
From India, Thane
246You are eligible for Bonus amount of Rs. 7,000/- or as per the applicable Minimum Wages, whichever is higher.
You have not mentioned in what capacity you are working (Your Designation) accordingly the working can be provided.
Regards,
Suresh
From India, Thane
SIR, I want to know my basic + da is 12000 which is higher from minimum wages of up govt. so now i want to what is the process of calculate my bonus if my factory is giving 20% bonus.
From India, Chandigarh
From India, Chandigarh
Hey i just want to say that bonus act simply says that 8.33% of minimum wages or 8.33% of 7000 whichever is higher.
i just want to confirm that in payment of wages act workmen can be considered on ceiling limit of rupees 24000, and as per bonus act every workmen is eligible for bonus, so will 21000 ceiling limit for bonus is not applicable here and if yes then what is the actual amount which comes in purview of bonus act, is special allowance also applicable in considering ceiling limit?
From India, Gurgaon
i just want to confirm that in payment of wages act workmen can be considered on ceiling limit of rupees 24000, and as per bonus act every workmen is eligible for bonus, so will 21000 ceiling limit for bonus is not applicable here and if yes then what is the actual amount which comes in purview of bonus act, is special allowance also applicable in considering ceiling limit?
From India, Gurgaon
1.Bonus Minimum Payable is 8.33% and Maximum payable is 20%
2. Rs,7000 or Minimum Wages which ever is higher to considered If for example if MW is Rs.8000 you have consider Rs.8000/- and not Rs.7000
3. Less than Rs.8000 actual and over and above Rs.8000, Rs.8000 has to be taken for Calculation
4. Bonus Eligibility Ceiling limit is Rs.21000 as per payment of Bonus Act as like PF and ESI Ceiling Limit.
5. Applicability of Payment of Wages Act is Rs.24000/- and dont think it has to be linked to Payment of Bonus Act.
6. My Suggestion is If management is willing you can also pay the Bonus as EXGRATIA to members above 21000. or normally goes out as VPP For staff members
7. Wages speaks about Basic + DA only.
Please correct me if my views are wrong.
From India, Chennai
2. Rs,7000 or Minimum Wages which ever is higher to considered If for example if MW is Rs.8000 you have consider Rs.8000/- and not Rs.7000
3. Less than Rs.8000 actual and over and above Rs.8000, Rs.8000 has to be taken for Calculation
4. Bonus Eligibility Ceiling limit is Rs.21000 as per payment of Bonus Act as like PF and ESI Ceiling Limit.
5. Applicability of Payment of Wages Act is Rs.24000/- and dont think it has to be linked to Payment of Bonus Act.
6. My Suggestion is If management is willing you can also pay the Bonus as EXGRATIA to members above 21000. or normally goes out as VPP For staff members
7. Wages speaks about Basic + DA only.
Please correct me if my views are wrong.
From India, Chennai
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Bonus Calculation.xls
BONUS CALCULATION RULE (1).pdf