Bonus Calculation

Rs.1458 as per Section 10 of  Payment Bonus Act, 1965

And further other provison of the act requiires that if a worker has not worked the whole year than minimum bonus would be calculated as for the period for which the employee has worked provided the employee has worked for minimum days as required to be eligible for bonus.

I hope your query has been solved.

With regards,

Kalpesh.

According to sec.10 subject to the other provision of the act, every employer shall be bound to pay to every employee in respect of every accounting year, minimum bonous which shall be 8.33% of the salary or wage earned by the Employee during the accounting year or rs. 100, whichever is higher, whether or not the employer has any allocable surplus in the accounting year..

Hi Shrikant as bonus calculated for 5 months is greater than 100 so question of it and also as it is shown in above calculation 8.33 is taken as a percentile by Mr.Gyan

So both issues are included.

dear sir,

i want to know eligibility of employee for salary bonus for current year.  is their any criteria for not paying of bonus.

Sir

what percentage of basic salary is to be taken for calculation of bonus to employee.

can a co. or firm deny bonus on any grounds

what is the maximum salary slab for an employee to claim bonus

kindly reply...

Any employee who earns below Rs 10000/-  (bonus act amended in Feb 2007) is eligible for bonus.

As for the calculation part. Actual salary if below Rs 3500 or Rs 3500 if salary above Rs 3500 but below Rs 10000. 

Minimum bonus 8.33% & Maximum bonus 20% 

Employees earning above Rs 10000 Legally not entitled to bonus

pls explain the fourth deduction column of 'other sums under schedule 3' which is deducted from calculated gross profit

suppose a employee earn 3500 in a month..
during a month he have taken excess leave..
eventually his salary is deducted to 3200..
so,
now on which amt.
bonus is calculated..
plz reply

bonus calculation

Dear All,

Bonus is calculated on the basis of the salary earn by the employee during the year.

Dear Sir

please provide me exa. for cal. of bonus if pm salary is 7500 and he hase not compli.one year .joining dt.dec.11 to till dt

Hii this is Fatema here, and I have doubts regarding calcualtion of bonus. 

actually I am working with an organisation where almost everyone is getting salary beyond 10000/- p.m.

n some of employees has joined office after april 2013.

Nw my doubt is wheather to calcualte bonus on the salary amount of PY 2012-2013 ?

m calcualting bonus for the current month so those who are new comers shell get any bonus?

and in case if bonus calcualted what will be its taxability?

please reply me with your valuable suggessitions.

thank you

Dear All,

      I have a small doubt that for the eligibility of employees for payment of bonus, which salary is to be considered? i.e.,Master(Basic+D.A.) or Earned(Basic+ D.A.) for the month.

Assume he has fulfilled all other conditions as per act.

Example:Master basic+D.A.=12000

                Earned Basic+D.A. in May=9000

                Is he Eligible for bonus?

Kindly clarify this asap along with supporting provision.

DEAR PROFESSIONAL

I HAVE A QUERY REGARDING ELIGIBILITY OF BONUS

AN EMPLOYEE GETTING BASIC SALARY OF RS 9500 FROM 1.4.2014 TO 30.9.2014 AND FROM 1.10.2014 HIS SALARY WAS INCREASED TO RS 10500/-WHETHER THE EMPLOYEE IS ELIGIBLE FOR BONUS FOR 6 MONTH ie, 1.4.2014 TO 30.09.2014

PLEASE CLARIFY

REGARDS

RAJIV BANSAL