Hi..Can anyone tell me how Bonus is calculated as new GO for Minimum ceiling revision was came , is 7000 minimum or 8400
From India, undefined
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1From India, undefined
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Dear Mr. Pankaj,
You can calculate the Bonus Amount as per the declared percentage by the management. However, you must ensure that its base for Wages Rate shall be the minimum wages applicable in your area/industry, but in any case, it will not be lower than 7000/- per month.
Hope you will be satisfied with the above.
Thank you.
From India
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You can calculate the Bonus Amount as per the declared percentage by the management. However, you must ensure that its base for Wages Rate shall be the minimum wages applicable in your area/industry, but in any case, it will not be lower than 7000/- per month.
Hope you will be satisfied with the above.
Thank you.
From India
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First, you need to compute available surplus and allocable surplus as per the formula specified in the act. Then, you should compute the salary eligible for a bonus, taking the actual annual salary with a ceiling of ₹7000 per month or the minimum wages applicable, WHICHEVER IS HIGHER.
The entire allocable surplus is to be paid as a bonus proportionate to wages computed above for each person, subject to a minimum of 8.33% and a maximum of 20%.
From India, Mumbai
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The entire allocable surplus is to be paid as a bonus proportionate to wages computed above for each person, subject to a minimum of 8.33% and a maximum of 20%.
From India, Mumbai
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Dear Mr. Pankaj,
As per the new amendment, the bonus is applicable for employees with wages up to Rs. 21,000 per month. The bonus calculation ceiling is Rs. 7,000 per month or the minimum wage for the scheduled employment, as fixed by the appropriate Government (whichever is higher).
Regards,
Vel. E
From India, Chennai
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As per the new amendment, the bonus is applicable for employees with wages up to Rs. 21,000 per month. The bonus calculation ceiling is Rs. 7,000 per month or the minimum wage for the scheduled employment, as fixed by the appropriate Government (whichever is higher).
Regards,
Vel. E
From India, Chennai
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf
Bonus-amendment _206.doc