Hello Everyone
My question is whether Conveyance Allowance, Medical Allowance, Education Allowance forms part of Pay/Salary for calculation of Bonus. What are the components on which Bonus is calculated.
Thanks in Advance.
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Pay/salary for calculation of bonus
Replies (2)
| Originally posted by : priyanka manawat | ||
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Hello Everyone My question is whether Conveyance Allowance, Medical Allowance, Education Allowance forms part of Pay/Salary for calculation of Bonus. What are the components on which Bonus is calculated. Thanks in Advance. From Bonus Act, it can well derived that if an employee getting basic salary of Rs 9000 PM than in that case Rs. 3500 PM should be taken into account for calculation of Bonus. So the calculation of Bonus for an employee who has worked for the entire accounting year will be: Rs.3500 * 12 = 42000*8.33% = Rs. 3,500/- per annum. If an employee has worked for 5 months in the last financial year, will the bonus calculation be Rs. 3500 *5= 17500*8.33% = Rs. 1458/- or it should be Rs.3500/- as minimum bonus per year. |
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if a firm paid salary of Rs. 214000/-including bonus of Rs.16500/- whether firm is liable for deduct tds under section 192 for the Financial year 2013-14?
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