Bonus Calculation
This query is : Resolved
18 June 2011
If a worker gets Rs. 3600 a month, and is absent for 2 days, he gets Rs. 3360 for a month. Should we take this Rs. 3360 a wage for calculation of bonus or should it be Rs 3267 (3500/30*28)?
Similarly, if worker gets Rs. 5000, should wage for bonus calculation be Rs. 3500 (5000/30*28, being more than 3500), or should it be again Rs. 3267 (3500/30*28)?
Plz cite any source, if you can.
Thanks in anticipation.
Similarly, if worker gets Rs. 5000, should wage for bonus calculation be Rs. 3500 (5000/30*28, being more than 3500), or should it be again Rs. 3267 (3500/30*28)?
Plz cite any source, if you can.
Thanks in anticipation.
19 June 2011
The basic calculation of bonus depends the total payment you have made in a year to the worker. It also depends on the policy of the company to whom bonus shall be paid. In your case you take the total payment which is after deduction of pay for absent to the staff and total for the year you calculate the percentage of 8.33% or so. It also happens that the worker is absent for 3 days but he has worked for 3 days more against the required leave per month or has worked on Sundays so the payment you made him for those days also so you take the gross payment before deduction of P.F or any other statutory deductions for calculation of bonus
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20 June 2011
thanks, sir.
But if worker has worked 2 days less, and not worked extra to compensate it. Then he gets Rs. 3360 for a month (assuming 3600 as gross salary). Should we take this Rs. 3360 a wage for calculation of bonus or should it be Rs. 3267 (3500/30*28)?
But if worker has worked 2 days less, and not worked extra to compensate it. Then he gets Rs. 3360 for a month (assuming 3600 as gross salary). Should we take this Rs. 3360 a wage for calculation of bonus or should it be Rs. 3267 (3500/30*28)?
20 June 2011
As I have already explained the Bonus is to be calculated on actual payment for the year and does not have any connection with number of days
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20 June 2011
thanks a lot, sir
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