Summary of the above entire posts is below:-
1) First case - look at Actual Pay / Earned Wage Per Month received by the employee is less than Rs.7000 pm, example Rs.6000 pm, calculate bonus on Rs.6000 pm.
2) Second case- if the Actual Pay / Earned Wage per month is received by the employee is more than Rs.7000 pm, example Rs.8500 pm, Look at the Minimum wage of the workmen if its covered under suitable Schedule employment which is example Rs.6000 pm, calculate bonus on Rs. 7000 pm.
3) Third case - if the Actual Pay / Earned Wage per month is received by the employee is more than Rs.7000 pm, example Rs.8500 pm, Look at the Minimum wage of the workmen if its covered under suitable Schedule employment which is example Rs.9000 pm, calculate bonus on Rs. 9000 pm.
4) Fourth case - if the Actual Pay / Earned Wage per month is received by the employee is more than Rs.7000 pm, example Rs.8500 pm, Look at the Minimum wage of the workmen if its covered under Schedule employment which is also as example Rs.8500 pm, calculate bonus on Rs. 8500 pm based on minimum wage.
Hope this makes clear.
From India, Mumbai
91) First case - look at Actual Pay / Earned Wage Per Month received by the employee is less than Rs.7000 pm, example Rs.6000 pm, calculate bonus on Rs.6000 pm.
2) Second case- if the Actual Pay / Earned Wage per month is received by the employee is more than Rs.7000 pm, example Rs.8500 pm, Look at the Minimum wage of the workmen if its covered under suitable Schedule employment which is example Rs.6000 pm, calculate bonus on Rs. 7000 pm.
3) Third case - if the Actual Pay / Earned Wage per month is received by the employee is more than Rs.7000 pm, example Rs.8500 pm, Look at the Minimum wage of the workmen if its covered under suitable Schedule employment which is example Rs.9000 pm, calculate bonus on Rs. 9000 pm.
4) Fourth case - if the Actual Pay / Earned Wage per month is received by the employee is more than Rs.7000 pm, example Rs.8500 pm, Look at the Minimum wage of the workmen if its covered under Schedule employment which is also as example Rs.8500 pm, calculate bonus on Rs. 8500 pm based on minimum wage.
Hope this makes clear.
From India, Mumbai
Dear Members,
Can you please clarify the following -
Case 1 :-IF Basic Salary=10800 +DA=7200 Total Salary=18000 Actual Pay Per Month Salary
Bonus will be calculated on Rs.10800 ?
Bonus will be calculated on Rs 18000 ?
Bonus will be calculated on Rs 7000 ?
From India, undefined
Can you please clarify the following -
Case 1 :-IF Basic Salary=10800 +DA=7200 Total Salary=18000 Actual Pay Per Month Salary
Bonus will be calculated on Rs.10800 ?
Bonus will be calculated on Rs 18000 ?
Bonus will be calculated on Rs 7000 ?
From India, undefined
Answer to your query is available in this thread. It has been said that in the case of industries to which Minimum Wages have been notified, the bonus should be calculated on that minimum wages. Otherwise, it can be restricted to Rs 7000. As such if there is any statutory minimum wages applicable to you,calculate bonus on that or calculate it considering that the salary is Rs 7000.
From India, Kannur
From India, Kannur
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Bonus Calculation.xls
BONUS CALCULATION RULE (1).pdf