Dear Friends, I have some confusion about calculation of bonus, as per the new amendment wages limit for eligible for bonus is Rs 21000 and maximum limit for calculation of bonus is Rs. 7000.
My query is If any employee monthly salary is Rs. 14000.00 PM and he work in Jan 17 for 6 Days and earned salary Rs 3230.00 so on which amount i have to calculate bonus (3230 or 1615 (as per 7000) )
Please need your advice.
Thanks.
From India, Pune
4My query is If any employee monthly salary is Rs. 14000.00 PM and he work in Jan 17 for 6 Days and earned salary Rs 3230.00 so on which amount i have to calculate bonus (3230 or 1615 (as per 7000) )
Please need your advice.
Thanks.
From India, Pune
As per PBA 1965, bonus is calculated as a % of the salary or wage earned by the employee during the accounting year. So it has to be Rs3230 for Jan’17.
From India, Mumbai
From India, Mumbai
The earned salary must be taken into account for calculating Bonus . The wage ceiling limit is only 21k.
From Spain, Burgos
From Spain, Burgos
Dear Paraag, what is this "Calculation of Bonus on prorated salary of employee as per new amendment 2017?
Please apply your mind before posting such things? from your post, it will be construed that Bonus Act has been amended in 2017, which is not correct
Further, Bonus for FY 2016-17 should have been disbursed on or before 30/11/2017
Please stop posting Hypothetical questions.Instead go through Bare Act & revert with your queries for knowledge updation.Please note that learning is a continuous Process & there are no short cuts in learning.Please make use of knowledge of Forum members in right manner
From India, New Delhi
Please apply your mind before posting such things? from your post, it will be construed that Bonus Act has been amended in 2017, which is not correct
Further, Bonus for FY 2016-17 should have been disbursed on or before 30/11/2017
Please stop posting Hypothetical questions.Instead go through Bare Act & revert with your queries for knowledge updation.Please note that learning is a continuous Process & there are no short cuts in learning.Please make use of knowledge of Forum members in right manner
From India, New Delhi
Dear Srinath Sai Ram,
I know the as i mention minth i.e. Jan 17 is comes under FY 2016-17 and we have to pay bonus to mention employees before expiry of 8 month. i have given only example of Jan 17 nothing els.
and every one have rights to post our query and dugouts in this professional forums, dont be panic, if you dont want to reply so please keep mum.
Thank You.
From India, Pune
I know the as i mention minth i.e. Jan 17 is comes under FY 2016-17 and we have to pay bonus to mention employees before expiry of 8 month. i have given only example of Jan 17 nothing els.
and every one have rights to post our query and dugouts in this professional forums, dont be panic, if you dont want to reply so please keep mum.
Thank You.
From India, Pune
Dear Srinath Sai Ram,
I know that, i mention month i.e. Jan 17 is comes under FY 2016-17 and we have to pay bonus to mention employees before expiry of 8 month. i have given only example of Jan 17 nothing els.
and every one have rights to post our query and dought in this professional forums, dont be panic, if you dont want to reply so please keep mum.
Thank You.
From India, Pune
I know that, i mention month i.e. Jan 17 is comes under FY 2016-17 and we have to pay bonus to mention employees before expiry of 8 month. i have given only example of Jan 17 nothing els.
and every one have rights to post our query and dought in this professional forums, dont be panic, if you dont want to reply so please keep mum.
Thank You.
From India, Pune
Dear Srinath Sai Ram,
What i under stand on your statement you don't have mind and you have proved that you are the most foolish and stupid person in this forum.
My advice specialty to you don't be over smart and dont be fill you are only knowledgeable person.
If you have no quality to guide or help some one so please not to dominate any one.
Thanks,
From India, Pune
What i under stand on your statement you don't have mind and you have proved that you are the most foolish and stupid person in this forum.
My advice specialty to you don't be over smart and dont be fill you are only knowledgeable person.
If you have no quality to guide or help some one so please not to dominate any one.
Thanks,
From India, Pune
Bonus is to be calculated on prorate basis meaning thereby that whatever may be the salary(below Rs 21000.00) each month bonus would be required to be reckoned on the basis of minimum wages or Rs 7000.00 whichever is higher. In case a personnel has worked for say 13 days in January the salary on which bonus would be calculated for that month would be Rs 3500.00 only
From India, Kanpur
From India, Kanpur
Dear professional s,
Srinath's post is very blunt and lacks professional sensitivity. He should have used restraint and not allowed his emotions to overpower his professional conduct.Let us keep the dignity of this professional forum intact.
Regards
Vinayak Nagarkar
HR-CONSULTANT
From India, Mumbai
Srinath's post is very blunt and lacks professional sensitivity. He should have used restraint and not allowed his emotions to overpower his professional conduct.Let us keep the dignity of this professional forum intact.
Regards
Vinayak Nagarkar
HR-CONSULTANT
From India, Mumbai
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Bonus Calculation.xls
BONUS CALCULATION RULE (1).pdf