Hi. i would like to know what is the bonus payable on total annual basic salary of Rs 79,000 for the financial year 2008-09. The employee has been working since July,2007.
From India, Hyderabad
From India, Hyderabad
Bonus = 79000/12(months)= 6583.33 Eligible Bonus salary /month = 3500 Minimum statutory Bonus for 2008-2009 ( 8.33% ) = 3500*8.33/100 = 3499
From India, Pune
46From India, Pune
hi, can you please explain me the figure of 3,500 b’cos we were under the impression that we need to to calculate 8.33% on 79,000.
From India, Hyderabad
From India, Hyderabad
BONUS ELIGIBILITY - WHO’S BASIC SALARY IS LESS THAN Rs.10000/- FOR TO CALICULATION Rs.3500/- per month. You should calculate on earned basic only (monthly)
From India, Bangalore
From India, Bangalore
The eligibility has increased to 10000 now ( means an employee whose Basic and DA is up to 10 k per month , he / she is eligible to get Bonus irrespective of the fact as whether the organisation is making profit or not.... The do not apply to organisation who are under Infancy period ... First Five years from the date of incorporation provided such organisation is not making profit / haviing allocable surplus )
3500 is only for calculation of Minimum Bonus .
Readers can revert for any queries.
From India, Pune
3500 is only for calculation of Minimum Bonus .
Readers can revert for any queries.
From India, Pune
As per Bonus Act the bonus shall be payable on ceilling of Rs 35,00/- the salary may be more than 3500/.
Dear all,
for to see the eligibility we have to take the salary Rs.10000/- . If any employee basic salary is more than Rs.10000/- company need not to pay bonus to him. If basic salary is less than Rs.10000/- company should pay bonus to him. For the calculation of bonus earned basic salary to be take upto Rs.3500/- only. i.e. we should calculate bonus on Rs. 3500/- only. not on Rs.10000/-. this is for minimum bonus payment (8.33%)
From India, Bangalore
for to see the eligibility we have to take the salary Rs.10000/- . If any employee basic salary is more than Rs.10000/- company need not to pay bonus to him. If basic salary is less than Rs.10000/- company should pay bonus to him. For the calculation of bonus earned basic salary to be take upto Rs.3500/- only. i.e. we should calculate bonus on Rs. 3500/- only. not on Rs.10000/-. this is for minimum bonus payment (8.33%)
From India, Bangalore
Hi All,
for claculation purposes the following salary slabs are followed
Salary<3500 : actual salary taken for calculation
3500<=Salary<= 10k : 3500 is taken for calculation
eg: if Salary (basic + DA)= 2500 pm
then Bonus= 8.33*2500/100 pm= 208.25 pm (2499 pa)
If salary(basic+DA)= 6000 or 3500 pm
then Bonus= 8.33*3500/100 pm =291.55 pm (3499 pa)
Hope its clear now...
From India, Pune
for claculation purposes the following salary slabs are followed
Salary<3500 : actual salary taken for calculation
3500<=Salary<= 10k : 3500 is taken for calculation
eg: if Salary (basic + DA)= 2500 pm
then Bonus= 8.33*2500/100 pm= 208.25 pm (2499 pa)
If salary(basic+DA)= 6000 or 3500 pm
then Bonus= 8.33*3500/100 pm =291.55 pm (3499 pa)
Hope its clear now...
From India, Pune
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