Can someone brief bonus calculation?
If anyone employee earns 10000 (Basic+DA) so calculation will be.....
10000*8.33%
If someone employee earns 6000 (Basic+DA) so calculation will be....
7000*8.33%
Is this correct? Please suggest...
From India, Delhi
1If anyone employee earns 10000 (Basic+DA) so calculation will be.....
10000*8.33%
If someone employee earns 6000 (Basic+DA) so calculation will be....
7000*8.33%
Is this correct? Please suggest...
From India, Delhi
Dear Subodh,
I would like you to go through section 12 of the Payment of Bonus Act,1965 as it stands amended.
(i) where the salary exceeds Rs,7000/= pm, the bonus payable shall be calculated as if it is Rs.7000/=pm only.
(ii) In case of minimum wages having been fixed for the particular employment, the bonus for such persons should be calculated either at the minimum rates of wages or Rs.7000/= WHICHEVER IS HIGHER.
Please, apply this to the examples now and calculate the bonus accordingly.
From India, Salem
I would like you to go through section 12 of the Payment of Bonus Act,1965 as it stands amended.
(i) where the salary exceeds Rs,7000/= pm, the bonus payable shall be calculated as if it is Rs.7000/=pm only.
(ii) In case of minimum wages having been fixed for the particular employment, the bonus for such persons should be calculated either at the minimum rates of wages or Rs.7000/= WHICHEVER IS HIGHER.
Please, apply this to the examples now and calculate the bonus accordingly.
From India, Salem
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BONUS CALCULATION FOR W.B.Govt employee for 2010-2011.xls