I want to know whether bonus is payable on total salry or on basic only. Thanx ashok
From India, Bhubaneswar
From India, Bhubaneswar
Dear Ashok Bonus is calculate on based on basic+DA on 8.33% to 20% depends upon your organisation ability to pay, Regds ambarish Ph : 9164950110
From India, Bangalore
From India, Bangalore
363
Bonus will be calculated only 3500/- basic per month but one of respective month basic amount less than 3500/- the calculation of bonus is the present basic amount.
apr may june july August Total
3500 3500 3300 3250 3500 17050
=17050*percentage of bonus= Amount will be payable
From India, Bangalore
apr may june july August Total
3500 3500 3300 3250 3500 17050
=17050*percentage of bonus= Amount will be payable
From India, Bangalore
Hello Ami Arin i just wanna know more in this is that do companies give bonus every month..
From India, Delhi
From India, Delhi
Payment of Bonus Act 1965 - 8.33% Equivalent to 1 months Salary upto 20% Equivalent to 2 and half months salary that's the maximum Bonus a co can pay according to the Payment of Bonus Act 1965. It Depends on the co,s policy and allocable surplus and available surplus . Calculated on Basic + DA ,
From India, Mumbai
From India, Mumbai
Hi Ashok,
As per Payment of Bonus Act 1965, bonus is payable on basic wages if company is giving D.A. to worker's then D. A. also be considere in this.
For computation of Bonus Rs. 3500/- per month as basic will be considerrd and will be reflect as per pay days of employees.
Maximum limit of payment of bonus is 20% and minimum is 8.33%. Bonus will be payable on annual basis and period will be accounting year which is Aprill to March, For further clarification you can contact me.
Thanks & Regards
Sunil Sharma
Mob 9910126718
From India, New Delhi
As per Payment of Bonus Act 1965, bonus is payable on basic wages if company is giving D.A. to worker's then D. A. also be considere in this.
For computation of Bonus Rs. 3500/- per month as basic will be considerrd and will be reflect as per pay days of employees.
Maximum limit of payment of bonus is 20% and minimum is 8.33%. Bonus will be payable on annual basis and period will be accounting year which is Aprill to March, For further clarification you can contact me.
Thanks & Regards
Sunil Sharma
Mob 9910126718
From India, New Delhi
Its only calculated on your earned basic + DA of your last year salary the minimum bonus rate is 8.33 % and maximum as per your organisation ability.
From India, Pune
From India, Pune
Under Bonus Act definition of "Salary or wage" means all remuneration (other than remuneration in respect of overtime work) capable of being expressed in terms of money, which would, if the terms of employment, express or implied, were fulfilled, be payable to an employment or of work done in such employment and includes dearness allowance (that is to say, all cash payments, by whatever name called, paid to an employee on account of a rise in the cost of living).
There is deficit in definition of salary / wage whether Bonus is applicable of basic and DA or including all allowances for cost of living.(As per above statement). Please provide supported document / proof for clarification.
From India, Chandigarh
There is deficit in definition of salary / wage whether Bonus is applicable of basic and DA or including all allowances for cost of living.(As per above statement). Please provide supported document / proof for clarification.
From India, Chandigarh
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Amendment to Payment of Bonus Act 2015.jpg
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc