Maximum working days for Bonus calculation
This query is : Resolved
11 October 2022
Hello,
Greetings for the day
We have to pay bonus of our contractual workmen (Workers on contract basis working under contractor's payroll) who are paid on monthly basis but as per present days in a month.
Out of 365 days in a year there are mandatory holidays also like 26th Jan., 15th Aug., 1st May., Holi, Diwali etc (excluding 52 weekly offs).
SO my query is is there any maximum days limit for calculation of bonus payable ..?
Your expertise will help me for calculation the bonus sheet.
Thanks in advance.
You can reach me at : ashokmore582@yahoo.com
Greetings for the day
We have to pay bonus of our contractual workmen (Workers on contract basis working under contractor's payroll) who are paid on monthly basis but as per present days in a month.
Out of 365 days in a year there are mandatory holidays also like 26th Jan., 15th Aug., 1st May., Holi, Diwali etc (excluding 52 weekly offs).
SO my query is is there any maximum days limit for calculation of bonus payable ..?
Your expertise will help me for calculation the bonus sheet.
Thanks in advance.
You can reach me at : ashokmore582@yahoo.com
11 October 2022
Eligibility for bonus.
—Every employee shall be entitled to be paid by his employer in an accounting year, bonus, in accordance with the provisions of this Act, provided he has worked in the establishment for not less than thirty working days in that year.
Bonus not calculated on the basis of working days.
The minimum bonus of 8.33% is payable by every industry and establishment under section 10 of the Act. The maximum bonus including productivity linked bonus that can be paid in any accounting year shall not exceed 20% of the salary/wage of an employee under the section 31 A of the Act.
—Every employee shall be entitled to be paid by his employer in an accounting year, bonus, in accordance with the provisions of this Act, provided he has worked in the establishment for not less than thirty working days in that year.
Bonus not calculated on the basis of working days.
The minimum bonus of 8.33% is payable by every industry and establishment under section 10 of the Act. The maximum bonus including productivity linked bonus that can be paid in any accounting year shall not exceed 20% of the salary/wage of an employee under the section 31 A of the Act.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- FORM 26A APPLICABILITY
- Multiple trade mark
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
