Hello Seniors,
I hope you are doing well. Could someone please elaborate on this, as I am unable to understand the content of this article:
"Calculation of bonus with respect to certain employees. 2*[12. Calculation of bonus with respect to certain employees.- Where the salary or wage of an employee exceeds 3*[two thousand and five hundred rupees] per mensem, the bonus payable to such employee under section 10 or, as the case may be, under section 11, shall be calculated as if his salary or wage were 3*[two thousand and five hundred rupees] per mensem.]"
Thank you in advance.
Best Regards,
Amar
From India, Delhi
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29I hope you are doing well. Could someone please elaborate on this, as I am unable to understand the content of this article:
"Calculation of bonus with respect to certain employees. 2*[12. Calculation of bonus with respect to certain employees.- Where the salary or wage of an employee exceeds 3*[two thousand and five hundred rupees] per mensem, the bonus payable to such employee under section 10 or, as the case may be, under section 11, shall be calculated as if his salary or wage were 3*[two thousand and five hundred rupees] per mensem.]"
Thank you in advance.
Best Regards,
Amar
From India, Delhi
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Hi, It means an employee who may be earning any amount of salary but while calculating bonus you have take 3500 only as his base salary . Regards Rajeev Dixit
From India, Bangalore
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From India, Bangalore
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Dear Amar,
As per Amendment 2007, the amount of Rs. 2500/- that you mentioned in your query is now substituted by Rs. 3500/-.
This section (Section 12) deals with the ceiling for the purpose of calculating the bonus. According to it, if an employee's salary exceeds Rs. 3500/- (now), for example, Rs. 5000/-, the bonus is calculated based on Rs. 3500/- and not on Rs. 5000/-.
I hope my response meets your satisfaction.
From India, Mumbai
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As per Amendment 2007, the amount of Rs. 2500/- that you mentioned in your query is now substituted by Rs. 3500/-.
This section (Section 12) deals with the ceiling for the purpose of calculating the bonus. According to it, if an employee's salary exceeds Rs. 3500/- (now), for example, Rs. 5000/-, the bonus is calculated based on Rs. 3500/- and not on Rs. 5000/-.
I hope my response meets your satisfaction.
From India, Mumbai
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SALARY SHEET CALCULATION.xls
Salary calculation.doc