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Dear Priyanka Sahu In form C Days means Present Days not paid days. In your case working days should be considered as 313 not 365 days. Regards, Thanks & Regards Ranjeet
From India, New Delhi
From India, New Delhi
Weekly off are paid holidays which need to be considered as Working Days for calculation of bonus, as per the act. However, there are companies following the methodology which you have been asked to adopt which is not a fair labour practice.
Sahayaraj
Sr. HR Executive (IR)
From India, Durgapur
Sahayaraj
Sr. HR Executive (IR)
From India, Durgapur
Dear Priyanka,
I hope you have arrived 313 working days from - monthly No. of working days = 26 * 12 months = 312 days & not 313 days. if they have completed 1 year of service from start of financial year i.e. Apr 1 till 30 May.. Take their Basic salary paid for the period multiplied by the bonus pecentage agreed to pay i.e. varying from 8.33% till 20% Eligibility for Bonus is basic pay less than 10,000 INR monthly & max ceiling would be Rs.3500
Regards,
Sripathy.P
From India, Madras
I hope you have arrived 313 working days from - monthly No. of working days = 26 * 12 months = 312 days & not 313 days. if they have completed 1 year of service from start of financial year i.e. Apr 1 till 30 May.. Take their Basic salary paid for the period multiplied by the bonus pecentage agreed to pay i.e. varying from 8.33% till 20% Eligibility for Bonus is basic pay less than 10,000 INR monthly & max ceiling would be Rs.3500
Regards,
Sripathy.P
From India, Madras
Dear Amrish,
As per act eligiblity criteria is 30 days working in a organization.
But firstly you tell me your salary Breakup so that i can help you accordingly as bonus is given & calculated on a limit prescribed in Act.
And one more thing what do you mean by Bonus Here :
1. Normal Bonus
2. Performance Bonus
3. Ex Gratia
Pls be specific.
If it is Performance Bonus then it will be calculated on Annual basis.
From India, New Delhi
As per act eligiblity criteria is 30 days working in a organization.
But firstly you tell me your salary Breakup so that i can help you accordingly as bonus is given & calculated on a limit prescribed in Act.
And one more thing what do you mean by Bonus Here :
1. Normal Bonus
2. Performance Bonus
3. Ex Gratia
Pls be specific.
If it is Performance Bonus then it will be calculated on Annual basis.
From India, New Delhi
1. For bonus eligibility: 30 man working days in a financial year is must. If below 30 working days he is not entitle for bonus.
2. Calculation of Bonus: Total earnigs (Basic + DA )in a year x 8.33% ( but maximum is 20%)
3. Wage ceiling is Rs.3500/- per month
4. Coverage of Bonus for the employees whose's monthly Wage is less than Rs.10,000/- only ( i.e. Monthly Basic + DA should not exceed 10,000/-) if exceeded, he is not entitlement for bonus. If emplyer desires to pay bonus, they can be paid as per their wish by calling an "ex-gratia" and not bonus i.e. out of purview of bonus act
5. They should maintain the Bonus Register in Form C
it is little bit confusion for the first time calculation but it is easy.
If any query is required please do not hesitate to call: 09704233306 (MADHAVA RAO G - Industrial Labour Law Consultant, Hyderabad)
From India, Hyderabad
2. Calculation of Bonus: Total earnigs (Basic + DA )in a year x 8.33% ( but maximum is 20%)
3. Wage ceiling is Rs.3500/- per month
4. Coverage of Bonus for the employees whose's monthly Wage is less than Rs.10,000/- only ( i.e. Monthly Basic + DA should not exceed 10,000/-) if exceeded, he is not entitlement for bonus. If emplyer desires to pay bonus, they can be paid as per their wish by calling an "ex-gratia" and not bonus i.e. out of purview of bonus act
5. They should maintain the Bonus Register in Form C
it is little bit confusion for the first time calculation but it is easy.
If any query is required please do not hesitate to call: 09704233306 (MADHAVA RAO G - Industrial Labour Law Consultant, Hyderabad)
From India, Hyderabad
Dear Madhava Sir,
Query 1. Kindly let me know in which section it is mentioned your answer Sl No 4.
Query 2. i have 100 employees in that arround 85 employees basic salary is less than 10,000 and 15 employees are getting more than 10,000/-. But we have paid all employees gross salary as a bonus. kindly let me know in this case how can i wright the form C and form D
Your help will be highly appreciated.
From India, Bangalore
Query 1. Kindly let me know in which section it is mentioned your answer Sl No 4.
Query 2. i have 100 employees in that arround 85 employees basic salary is less than 10,000 and 15 employees are getting more than 10,000/-. But we have paid all employees gross salary as a bonus. kindly let me know in this case how can i wright the form C and form D
Your help will be highly appreciated.
From India, Bangalore
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BONUS FORM-C.xls
Bonus Act-FORM-D.doc