Ms. Shweta it is as follows
If a labour is having salary of Rs. 3500/- per month
then his annual salary will be 3500*12 = Rs. 42000
Now if you calculate 8.33% of 42000 then you will get Rs. 3498.60/- (which is almost 3500) and 20% of 42000 is 8400/-
Hope my reply may clarify the doubt.
Regards,
Ankur
From India, Hyderabad
If a labour is having salary of Rs. 3500/- per month
then his annual salary will be 3500*12 = Rs. 42000
Now if you calculate 8.33% of 42000 then you will get Rs. 3498.60/- (which is almost 3500) and 20% of 42000 is 8400/-
Hope my reply may clarify the doubt.
Regards,
Ankur
From India, Hyderabad
S Bhasker is clearly said about bonus calculation and the eligibility part. Regards Sharad Choudhary
From India, Bhopal
From India, Bhopal
Dear Mr Khaldkar, As per the Payment of Bonus Act, as a principal employer you are liable to pay minimum Bonus as applicable for all eligible employees. JAGADEESHWARA SR. MANAGER HR HHV
From India, Bangalore
From India, Bangalore
Dear Friends If company not paying bonus so what we have to do in that case? Regards Vipin Bansal
From India, Gurgaon
From India, Gurgaon
Dear All,
Greetings for the day!
In one company bonus is calculated on Net Salary.
Example: If net salary is 15,000
then bonus = 15,000 * 8.33% * no of months worked
Is this calculation acceptable?
Thanks and Regards,
Trupti
From India, Bangalore
15Greetings for the day!
In one company bonus is calculated on Net Salary.
Example: If net salary is 15,000
then bonus = 15,000 * 8.33% * no of months worked
Is this calculation acceptable?
Thanks and Regards,
Trupti
From India, Bangalore
If Private Sector company running in loss so is it necessity to pay the bonus to employees. if necessity and the company management saying we are loss & we are not able to pay the bonus this Diwali.
In that case what should employees do.
Regards
Vipin Bansal
From India, Gurgaon
In that case what should employees do.
Regards
Vipin Bansal
From India, Gurgaon
Ms Trupti,
As per the payment of Bonus Act employees whose salaries/wages are upto 10,000/- pm & if they have worked for 30 working days in the Financial year, they are eligible for minimum bonus as follows:
3500*8.33%=292/- pm.
Beyond this any employer is paying, then it will be called as Ex-Gratia.
Mr Vipin Bhansal,
Once any organisation is come under the purview of Payment of Bonus Act, irrespectively whether the company is underloss/gain, it need to pay minimu bonus to the eligible employees within 8 months on completion of accounting year i.e. by 30.11
JAGADEESHWARA
From India, Bangalore
As per the payment of Bonus Act employees whose salaries/wages are upto 10,000/- pm & if they have worked for 30 working days in the Financial year, they are eligible for minimum bonus as follows:
3500*8.33%=292/- pm.
Beyond this any employer is paying, then it will be called as Ex-Gratia.
Mr Vipin Bhansal,
Once any organisation is come under the purview of Payment of Bonus Act, irrespectively whether the company is underloss/gain, it need to pay minimu bonus to the eligible employees within 8 months on completion of accounting year i.e. by 30.11
JAGADEESHWARA
From India, Bangalore
Dear Vipin Bansal
Earlier the Bonus must be paid when the company earns allocable surplus Fund. But nowadays the same clause is amended and the policy has got changed as whether the organisation has allocable surplus or not it must pay a minimum of 8.33% (i.e., Rs.3499/-) as Bonus to all the workers/employees.
From India, Kumbakonam
Earlier the Bonus must be paid when the company earns allocable surplus Fund. But nowadays the same clause is amended and the policy has got changed as whether the organisation has allocable surplus or not it must pay a minimum of 8.33% (i.e., Rs.3499/-) as Bonus to all the workers/employees.
From India, Kumbakonam
Yes Seepa
All the companies are to pay the Bonus to all the employees engaged by them whose salary is less than Rs. 10000/-. But nowadays the companies are compensating their employees with Performance Linked Reward instead of Bonus. As the employee will feel pride as the PLR is earned by them instead of the company giving them and the PLR is motivating factor for the employees to increase their productivity as well as the efficiency of the employees also increases.
From India, Kumbakonam
All the companies are to pay the Bonus to all the employees engaged by them whose salary is less than Rs. 10000/-. But nowadays the companies are compensating their employees with Performance Linked Reward instead of Bonus. As the employee will feel pride as the PLR is earned by them instead of the company giving them and the PLR is motivating factor for the employees to increase their productivity as well as the efficiency of the employees also increases.
From India, Kumbakonam
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Bonus eligibility.xls
Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf