if employees basic + DA is 15500 than what will be the calculation ( skilled or clk1)
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Calculate the bonus as if the salary is Rs 7000 per month. In case the minimum wages applicable to him are more than Rs 7000, then take that minimum wage as the basis for calculating the bonus.
I think the answers given above (i.e., 20 posts) clarify everything, including the query in post No. 21. It is advisable that you go through the posts and post queries only if the posts do not satisfy you.
Madhu.T.K
From India, Kannur
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4468I think the answers given above (i.e., 20 posts) clarify everything, including the query in post No. 21. It is advisable that you go through the posts and post queries only if the posts do not satisfy you.
Madhu.T.K
From India, Kannur
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Dear Madhu TK & All,
The confusion is about the 7000 ceiling limit. According to some members, it is the minimum wages limit, and according to some members, it is the minimum bonus limit. Actually, this kind of different replies given by seniors has let the querist to be confused. If the basic Plus DA is less than 7000, say 5600, then do we need to take the actual basic plus DA, i.e., 5600, for bonus calculation, or should we take 7000 for bonus calculation?
Please clarify this issue of the 7000 ceiling limit.
From India, Jaipur
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The confusion is about the 7000 ceiling limit. According to some members, it is the minimum wages limit, and according to some members, it is the minimum bonus limit. Actually, this kind of different replies given by seniors has let the querist to be confused. If the basic Plus DA is less than 7000, say 5600, then do we need to take the actual basic plus DA, i.e., 5600, for bonus calculation, or should we take 7000 for bonus calculation?
Please clarify this issue of the 7000 ceiling limit.
From India, Jaipur
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Please read my post (link 12) which clarifies your doubts. If the wages are below Rs 7000, take the actual salary; if it is more than 7000, then take 7000. In case the minimum wages are more than 7000, then take that minimum wage for the calculation of bonus. The most important thing to be noted with regard to the amended section is that minimum wages will come into the picture only if your bonus qualifying salary is more than Rs 7000. That means if you are paying less than 7000, say Rs 6000, and whereas the minimum wages are more than 7000, say Rs 8000, then you need not calculate and pay the bonus on minimum wages but just pay it based on the actual wages paid, i.e., 6000. At the same time, if your salary is more than 7000, say 10000, then you have to pay a bonus on 7000 or minimum wages, whichever is higher, i.e., Rs 8000.
Madhu.T.K
From India, Kannur
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Madhu.T.K
From India, Kannur
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Dear Madhu TK sir,
I have read your post No. 12 in this thread wherein you mentioned that if the Basic plus DA is less than 7000, for example, 6000, then the bonus will be calculated based on 6000. However, if the Basic plus DA exceeds 7000, for instance, 12000, then the bonus will be calculated based on either 7000 or the state minimum wages for scheduled employment, whichever is higher.
I would like to know in which section of the Bonus Act it is written that if the Basic plus DA is less than 7000, the actual Basic plus DA will be considered for bonus calculation.
From India, Jaipur
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I have read your post No. 12 in this thread wherein you mentioned that if the Basic plus DA is less than 7000, for example, 6000, then the bonus will be calculated based on 6000. However, if the Basic plus DA exceeds 7000, for instance, 12000, then the bonus will be calculated based on either 7000 or the state minimum wages for scheduled employment, whichever is higher.
I would like to know in which section of the Bonus Act it is written that if the Basic plus DA is less than 7000, the actual Basic plus DA will be considered for bonus calculation.
From India, Jaipur
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Hello sir, I am an employee of a private company with a salary of 13000/p.m in the financial year 2015-16. The company started on 1st September 2015, and I joined on 1st October 2015. Am I eligible for a bonus? If so, how is the bonus calculated? Does it have to be for the full financial year or not?
For the calculation of the minimum bonus:
1. 13000 x 8.33% x 12 or
2. 13000 x 8.33% x 6
For the maximum bonus:
1. 13000 x 20% x 12
2. 13000 x 20% x 6
The company has fixed the bonus amount at 10000/-. Please suggest how much amount I can receive.
From India, undefined
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For the calculation of the minimum bonus:
1. 13000 x 8.33% x 12 or
2. 13000 x 8.33% x 6
For the maximum bonus:
1. 13000 x 20% x 12
2. 13000 x 20% x 6
The company has fixed the bonus amount at 10000/-. Please suggest how much amount I can receive.
From India, undefined
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A company is exempt from paying a bonus for the first 5 years unless it has actually made profits. So if the company has incurred a loss, you won't receive any bonus. If the company has made a profit, then compute the allocable surplus as described in the act, compare that with the salary paid for the year (also explained in the act). Based on that, you need to decide the percentage of the bonus. It should be the percentage that will absorb the allocable surplus, subject to a maximum of 20%.
Of course, the company is not required to pay a bonus for 12 months if it only operated for 6 months, and you will only receive a bonus for 5 months if you joined in October.
From India, Mumbai
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Of course, the company is not required to pay a bonus for 12 months if it only operated for 6 months, and you will only receive a bonus for 5 months if you joined in October.
From India, Mumbai
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Dear AMTGUP, Please see section 9 and sec 10, which says that bonus is payable on actual salary And section 12, which says those getting above the ceiling, get based on ceiling rate
From India, Mumbai
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From India, Mumbai
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Hello, sir. Thank you for your information. I have another doubt. The company has been in operation for over 5 years, but they have recently opened a new branch where I have been working. For the financial year, the branch has achieved profits.
From India, undefined
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From India, undefined
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Branch will be considered as part of the unit unless you have a separate balance sheet, etc. Additionally, bonuses will be payable from the year in which the company makes a profit. In such a case, you will not receive the protection of infancy for five years.
Madhu.T.K
From India, Kannur
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Madhu.T.K
From India, Kannur
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