Hello,
I have few query regarding payment of Bonus, like:-
a) Is it mandatory to calculate bonus on the basis of Company's profit??
b) On what basis company should decide the calculation percentage out of 8.33% to 20%
Request you all to please clear the doubts, I will be highly obliged.
Thank you.
From India, Gurgaon
I have few query regarding payment of Bonus, like:-
a) Is it mandatory to calculate bonus on the basis of Company's profit??
b) On what basis company should decide the calculation percentage out of 8.33% to 20%
Request you all to please clear the doubts, I will be highly obliged.
Thank you.
From India, Gurgaon
Payment f Bonus Act is absolutely clear about Calculation of Bonus and it will determine the % of Bonus. Yes as per Bonus Act the calculation starts from Gross Profit to arrive at available surplus and then allocable surplus along with % of Bonus pay out.
There is also provisions for "Set on"and "SET OFF". Please talk to your finance team for better understanding of the same. It is always better to have audit of the Bonus calculation by authorised Auditor.
S. K. Bandyopadhyay ( Howrah, WB)
From India, New Delhi
337There is also provisions for "Set on"and "SET OFF". Please talk to your finance team for better understanding of the same. It is always better to have audit of the Bonus calculation by authorised Auditor.
S. K. Bandyopadhyay ( Howrah, WB)
From India, New Delhi
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Amendment to Payment of Bonus Act 2015.jpg
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THE PAYMENT OF BONUS ACT.doc