Dear Seniors,
Regarding Bonus calculation :
It has been said that minimum 8.33% to max 20 % can be paid as bonus.
I've a doubt regarding this 3500/-
Say if an employee's basic salary is 6000/-, considering full attendance : 6000*12*8.33% - his bonus amount will be 5998/-.
How it has to separated as bonus and ex-gratia.
Regards
G.G.Deepa
From India, Selam
3Regarding Bonus calculation :
It has been said that minimum 8.33% to max 20 % can be paid as bonus.
I've a doubt regarding this 3500/-
Say if an employee's basic salary is 6000/-, considering full attendance : 6000*12*8.33% - his bonus amount will be 5998/-.
How it has to separated as bonus and ex-gratia.
Regards
G.G.Deepa
From India, Selam
Calculation is as follows:
Case 1:
Maximum wage ceiling for bonus calculation is Rs 3500/- per month,
Minimum bonus: Rs 3500 x 12 x 8.33%: Rs 3500/-
Minimum bonus: Rs 3500 x 12 x 20%: Rs 8400/-
Case 2:
If wage is less than Rs 3500/-, for example: Rs 3000/- per month
Minimum bonus: Rs 3000 x 12 x 8.33%: Rs 3000/-
Minimum bonus: Rs 3000 x 12 x 20%: Rs 7200/-
Thanks & Regards
MV.Babu
From India, Rajamahendri
Case 1:
Maximum wage ceiling for bonus calculation is Rs 3500/- per month,
Minimum bonus: Rs 3500 x 12 x 8.33%: Rs 3500/-
Minimum bonus: Rs 3500 x 12 x 20%: Rs 8400/-
Case 2:
If wage is less than Rs 3500/-, for example: Rs 3000/- per month
Minimum bonus: Rs 3000 x 12 x 8.33%: Rs 3000/-
Minimum bonus: Rs 3000 x 12 x 20%: Rs 7200/-
Thanks & Regards
MV.Babu
From India, Rajamahendri
Calculation is as follows:
Case 1:
Maximum wage ceiling for bonus calculation is Rs 3500/- per month,
Minimum bonus: Rs 3500 x 12 x 8.33%: Rs 3500/-
Max bonus: Rs 3500 x 12 x 20%: Rs 8400/-
Case 2:
If wage is less than Rs 3500/-, for example: Rs 3000/- per month
Minimum bonus: Rs 3000 x 12 x 8.33%: Rs 3000/-
Max bonus: Rs 3000 x 12 x 20%: Rs 7200/-
Thanks & Regards
From India, Rajamahendri
Case 1:
Maximum wage ceiling for bonus calculation is Rs 3500/- per month,
Minimum bonus: Rs 3500 x 12 x 8.33%: Rs 3500/-
Max bonus: Rs 3500 x 12 x 20%: Rs 8400/-
Case 2:
If wage is less than Rs 3500/-, for example: Rs 3000/- per month
Minimum bonus: Rs 3000 x 12 x 8.33%: Rs 3000/-
Max bonus: Rs 3000 x 12 x 20%: Rs 7200/-
Thanks & Regards
From India, Rajamahendri
Dear GG.Deepa and Vinay .M,
Thanks and appreciate for the Question and replly by GGD.
In addition, Maximum Basic Limit for Bonus calculation is Rs.10,000/ per month. It means employees drawing more that Rs.10,000/ Basic Salary are not eligible for Bonus.
However most of the organisations are giving Bonus to such employees also whoes Basic Salary is more than Rs. 10,000/- .but they are treating it as as Eg-gratia
Thanks
From India, New Delhi
Thanks and appreciate for the Question and replly by GGD.
In addition, Maximum Basic Limit for Bonus calculation is Rs.10,000/ per month. It means employees drawing more that Rs.10,000/ Basic Salary are not eligible for Bonus.
However most of the organisations are giving Bonus to such employees also whoes Basic Salary is more than Rs. 10,000/- .but they are treating it as as Eg-gratia
Thanks
From India, New Delhi
Hi Vinay What if the Minimum wages are more than 10000/- or 9000/- Pls help to calculate bonus in both the above cases. Regards Monika
From India, Delhi
From India, Delhi
dear monika, If your basic is more than 10000/- then you are not liable to take the bonus and for 9000/- baisc you can calculate as said above.
From India, Bangalore
From India, Bangalore
Dear Monika,
as per the rules of Bonus Basic is above 3500 then bonus is not mandatory to give emp. then it will give them Ex Gratia bonus that is up to you. as per my company give Ex- Gratia bonus to emp. bonus amount should not goes to Basic salary per month (if my basic is 7200 per month then my Ex-bonus is 500per month then annual bonus is 6000)
From India, Mumbai
as per the rules of Bonus Basic is above 3500 then bonus is not mandatory to give emp. then it will give them Ex Gratia bonus that is up to you. as per my company give Ex- Gratia bonus to emp. bonus amount should not goes to Basic salary per month (if my basic is 7200 per month then my Ex-bonus is 500per month then annual bonus is 6000)
From India, Mumbai
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Bonus Calculation.xls
BONUS CALCULATION RULE (1).pdf