Dear Friends,
I was calculating the bonus as asked by my senior in form C of bomus act.
Can anyone please help me out with the information that the bonus viz. calculated for managers and supervisors the no. of days worked in a year shall be written as 313 i.e. if all days are taken or as 365 for managers as their number of days worked in a year.
313 was taken for workers who are paid on daily basis. But what about the managers who are paid sundays also.
Please help me out as to what figure has to be written in the no. of days worked in a year.
Regards,
Priyanka Sahu
From India, Mumbai
I was calculating the bonus as asked by my senior in form C of bomus act.
Can anyone please help me out with the information that the bonus viz. calculated for managers and supervisors the no. of days worked in a year shall be written as 313 i.e. if all days are taken or as 365 for managers as their number of days worked in a year.
313 was taken for workers who are paid on daily basis. But what about the managers who are paid sundays also.
Please help me out as to what figure has to be written in the no. of days worked in a year.
Regards,
Priyanka Sahu
From India, Mumbai
Dear Priyanka ,
Bonus can be calculated in following 2 ways......
(1) 8.333 % of Basic Salary....
(2) Basic Salary / No of Months i.e 12 - To get a monthly amount of Bonus as deduction from Salary.
Abhinav Chandra
From India, Bangalore
26Bonus can be calculated in following 2 ways......
(1) 8.333 % of Basic Salary....
(2) Basic Salary / No of Months i.e 12 - To get a monthly amount of Bonus as deduction from Salary.
Abhinav Chandra
From India, Bangalore
Dear Priyanka,
Greetings for the day!!!
Days are alwys considered for measuring the eligibility not for its calculation.
Calculation is done on the basis of Freezed limit which has been decided Under The payment of Bonus Act1965
From India, New Delhi
Greetings for the day!!!
Days are alwys considered for measuring the eligibility not for its calculation.
Calculation is done on the basis of Freezed limit which has been decided Under The payment of Bonus Act1965
From India, New Delhi
Dear Kapil Sir,
Greetings to you too.
I have an idea that we do not calculate bonus on the basis of days presents. That is required for the eligibility.
But the Form C of bonus act contains a column which says no. of working days in the year and also no. of days worked in the year.
My confusion is I have made the bonus sheet of workers wherin i took 313 as the no. of working days.
For my staff should i take no. of working days as 313 only or 365 because they are paid for weekly off also and workers are not.
Please guide me for the same.
Regards,
Priyanka Sahu
From India, Mumbai
Greetings to you too.
I have an idea that we do not calculate bonus on the basis of days presents. That is required for the eligibility.
But the Form C of bonus act contains a column which says no. of working days in the year and also no. of days worked in the year.
My confusion is I have made the bonus sheet of workers wherin i took 313 as the no. of working days.
For my staff should i take no. of working days as 313 only or 365 because they are paid for weekly off also and workers are not.
Please guide me for the same.
Regards,
Priyanka Sahu
From India, Mumbai
Dear kapil ji,
As per as rule and my knowledge if an employee has complicated his 30 days continuing working than he will be eligible for the bonus but what the persent, so please guide me.
i joined my company march 2007 but i haven't received the bonus and my boss told me those employee are not eligible bonus who has not completed his one year service.
I am waiting ur warm regards.
Thanks & Regards
Amrish Singh Raghuwanshi
Mob. 9827071872
Email-
From India, Bhopal
As per as rule and my knowledge if an employee has complicated his 30 days continuing working than he will be eligible for the bonus but what the persent, so please guide me.
i joined my company march 2007 but i haven't received the bonus and my boss told me those employee are not eligible bonus who has not completed his one year service.
I am waiting ur warm regards.
Thanks & Regards
Amrish Singh Raghuwanshi
Mob. 9827071872
Email-
From India, Bhopal
Dear Priya,
Yearly Bonus = Actual (Basic +DA) for that year of an individual employee*8.33%
If the employee worked in that year for more than 30 days and less than 1 year; then it is =(Basic+ DA)*8.33%*No. of working days/ Days worked by employee. For those who did not complete a year of service, it is the management's prerogative to pay Ex-gratia on pro-rata.
For caluclation, LOP days matter a lot, i.e., bonus is only for the actual working days in that year. Say, if he has not suffered LOP in a year then 365-12 (Fest/holidays) = 353. The number of holidays may vary among companies.
From where did you arrive at 313 days? All CL, SL, PL are paid days and shall not be figured under LOP. Anyways have a second opinion.
Regards,
Chandru
Consultant
From India, Madras
Yearly Bonus = Actual (Basic +DA) for that year of an individual employee*8.33%
If the employee worked in that year for more than 30 days and less than 1 year; then it is =(Basic+ DA)*8.33%*No. of working days/ Days worked by employee. For those who did not complete a year of service, it is the management's prerogative to pay Ex-gratia on pro-rata.
For caluclation, LOP days matter a lot, i.e., bonus is only for the actual working days in that year. Say, if he has not suffered LOP in a year then 365-12 (Fest/holidays) = 353. The number of holidays may vary among companies.
From where did you arrive at 313 days? All CL, SL, PL are paid days and shall not be figured under LOP. Anyways have a second opinion.
Regards,
Chandru
Consultant
From India, Madras
Dear Priyanka,
It would be 313 days (as per your calculation) but figure shows that you have deducted 52 weeks only, you should deduct national holidays also. (Figure shows that you have deducted off days only but you have to deduct the National Holidays & Festival also as per the list of holidays of your company).
Apart from this, for exempted employees you shouldn't make the entry in Form-C (Bonus Register), you should show as "Ex-Gratia" from HR Point of view as well as compliance point of view.
For your reference, an example is as follows:
No. of days in a year: 365
No. of off-days (Sunday): 52
List of Holidays & Festival: 10
Total worked days: 303
For entry point of view:
"A" Salary (Basic+D.A.) is Rs. 10,000= Eligible (Entry should be in Form-C)
"B" Salary (Basic+D.A.) is Rs. >10,001= Exempted (Seperate List as Ex-Gratia")
If still need any clarification then can contact as below:
From-
VIJAY VASHISTH
Manager HR
+91 9717989830
NOTHING IS IMPOSSIBLE IN LIFE EVEN WORD SAYS I M POSSIBLE.
From India, Jaipur
It would be 313 days (as per your calculation) but figure shows that you have deducted 52 weeks only, you should deduct national holidays also. (Figure shows that you have deducted off days only but you have to deduct the National Holidays & Festival also as per the list of holidays of your company).
Apart from this, for exempted employees you shouldn't make the entry in Form-C (Bonus Register), you should show as "Ex-Gratia" from HR Point of view as well as compliance point of view.
For your reference, an example is as follows:
No. of days in a year: 365
No. of off-days (Sunday): 52
List of Holidays & Festival: 10
Total worked days: 303
For entry point of view:
"A" Salary (Basic+D.A.) is Rs. 10,000= Eligible (Entry should be in Form-C)
"B" Salary (Basic+D.A.) is Rs. >10,001= Exempted (Seperate List as Ex-Gratia")
If still need any clarification then can contact as below:
From-
VIJAY VASHISTH
Manager HR
+91 9717989830
NOTHING IS IMPOSSIBLE IN LIFE EVEN WORD SAYS I M POSSIBLE.
From India, Jaipur
i have arrived on 313 after deduction the 52 weekly offs in the year.
my senior still says to write 313 on the form c even if they pay for 365 days tht means weekly off too. He is of the opinion tht the no. of working days in the year is 365 of the company as it is a dairy company but the physical presence of the employee is only 313 i.e. excluding weekly offs.
I am very confused for the same.
From India, Mumbai
my senior still says to write 313 on the form c even if they pay for 365 days tht means weekly off too. He is of the opinion tht the no. of working days in the year is 365 of the company as it is a dairy company but the physical presence of the employee is only 313 i.e. excluding weekly offs.
I am very confused for the same.
From India, Mumbai
Dear Vijay sir,
Workers get the national declared holidays i.e. 6 /yr as paid holidays. So we do not include it. Bonus was given to workers and it was successful.
But the question is for employees. They get paid for whole 365 days i.e. they get paid for weekly off also i.e their sundays. Then y on the sheet we shoukd write only 313.
Moreover they the 06 days declared as paid holidays should be deductes too.
Am I going wrong in this ?
From India, Mumbai
Workers get the national declared holidays i.e. 6 /yr as paid holidays. So we do not include it. Bonus was given to workers and it was successful.
But the question is for employees. They get paid for whole 365 days i.e. they get paid for weekly off also i.e their sundays. Then y on the sheet we shoukd write only 313.
Moreover they the 06 days declared as paid holidays should be deductes too.
Am I going wrong in this ?
From India, Mumbai
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
BONUS FORM-C.xls
Bonus Act-FORM-D.doc