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, for example, Rs. 6000 pm, calculate bonus on Rs. 6000 pm.
2) Second case - if the Actual Pay/Earned Wage per month received by the employee is more than Rs. 7000 pm, for example, Rs. 8500 pm, look at the Minimum wage of the workmen if it's covered under suitable Schedule employment, which is, for example, Rs. 6000 pm, calculate bonus on Rs. 7000 pm.
3) Third case - if the Actual Pay/Earned Wage per month received by the employee is more than Rs. 7000 pm, for example, Rs. 8500 pm, look at the Minimum wage of the workmen if it's covered under suitable Schedule employment, which is, for example, Rs. 9000 pm, calculate bonus on Rs. 9000 pm.
4) Fourth case - if the Actual Pay/Earned Wage per month received by the employee is more than Rs. 7000 pm, for example, Rs. 8500 pm, look at the Minimum wage of the workmen if it's covered under Schedule employment, which is also, for example, Rs. 8500 pm, calculate bonus on Rs. 8500 pm based on the minimum wage.
Hope this makes it clear.
From India, Mumbai
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91) First case - look at Actual Pay/Earned Wage Per Month received by the employee is less than Rs. 7000 pm, for example, Rs. 6000 pm, calculate bonus on Rs. 6000 pm.
2) Second case - if the Actual Pay/Earned Wage per month received by the employee is more than Rs. 7000 pm, for example, Rs. 8500 pm, look at the Minimum wage of the workmen if it's covered under suitable Schedule employment, which is, for example, Rs. 6000 pm, calculate bonus on Rs. 7000 pm.
3) Third case - if the Actual Pay/Earned Wage per month received by the employee is more than Rs. 7000 pm, for example, Rs. 8500 pm, look at the Minimum wage of the workmen if it's covered under suitable Schedule employment, which is, for example, Rs. 9000 pm, calculate bonus on Rs. 9000 pm.
4) Fourth case - if the Actual Pay/Earned Wage per month received by the employee is more than Rs. 7000 pm, for example, Rs. 8500 pm, look at the Minimum wage of the workmen if it's covered under Schedule employment, which is also, for example, Rs. 8500 pm, calculate bonus on Rs. 8500 pm based on the minimum wage.
Hope this makes it clear.
From India, Mumbai
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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
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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
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The 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 based on that minimum wage. Otherwise, it can be restricted to Rs 7000. Therefore, if there is any statutory minimum wage applicable to you, calculate the bonus based on that amount; otherwise, calculate it considering the salary to be Rs 7000.
From India, Kannur
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From India, Kannur
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