Bonus

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This query is : Resolved

Neeraj Tripathi (Querist)

09 January 2014 Dear Friends,

Can you tell us that how to calculate bonus and what should be applicable.

Example:-

Basic salary is 7500/-
Net Salary is 15000/-

then what should be bonus and how to calculate.....

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

14 January 2014 Eligibility of Bonus
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An employee will be entitled only when he has worked for 30 working days in that year. {Section 8}

Payment of Minimum Bonus
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8.33% of the salary or Rs.100 (on completion of 5 years after 1st Accounting year even if there is no profit) {Section 10}

Eligible Employees
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Employees drawing wages upto Rs.10000.00 per month or less.

For calculation purposes Rs.3500.00 per month maximum will be taken even if an employee is drawing upto Rs.10000 per month. {Section 12}

Time Limit for Payment of Bonus
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Within 8 months from the close of accounting year {Section 19}

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Neeraj Tripathi

Neeraj Tripathi (Querist)

14 January 2014 THANKU SO MUCH.........

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

15 January 2014 WELCOME TRIPATHI JI

REGARDS,

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