Hi all,
This is dattatreya Sarma From Hyderabad. i have questions On bonus & Gratuity
How to Calculate Bonus? On Basic + DA or total Salary? Is one employee Salary is 18000/- is he eligible for bonus? Is yes how much bonus he will get? Pls tell me the formula.
For gratuity how to Calculate Salary Escalation Rate and .Attrition Rate pls inform me the Process
Thanks & Regards
Dattatreya
Bonus Calculation depend upon employer, But it should be minimum 8.33% on previous year gross earned basic.
Gratuty calculation for above person, If basic above 6500/-. Minimum basic calculated for gratuty only 6500/-. And employee should be above 5 years experience in same organisation.
So in this case = 6500/26*15* NO OF YEARS SERVICE.
i hope you got answer
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