Dear Friend, I need help regard bonus. The eligibility, calculation, minimum bonus, Limits (if any) of bonus.
From India, New Delhi
From India, New Delhi
363
hi all, How to calculate bonus for a person who worked for 30 days. whether (basic*8.33%)/12*1 (one month) or will he eligible for total amount of bonus i.e., basic*8.33% Regards, Vishwanath
From India, Hyderabad
From India, Hyderabad
Here is how to calucalate bonus it is paid basic + Da for financial year * 8.33 % if monthly basic +DA is more than 3500/- for the purpose of calculating the bonus basic & Da shuld be considered as 3500/- and calcaution can be done as follows
3500/365 * no of present days
From India, Pune
3500/365 * no of present days
From India, Pune
As per act min bonus is 8.33% and max 20%. However the salary for calculation of bonus is Rs 3500/- (the eligible limit is upto Rs10000 (ie. even though u r salary is 6500 the salary considered for calculation of bonus is Rs3500only)). Therefore Minimum bonus one gets under PBA Act is 3500*8.33%*12 = 3499 where as maximum bonus is 3500*20%*12=8400 which was rightly said by your accounts.
regards
ravi
From United States
regards
ravi
From United States
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Amendment to Payment of Bonus Act 2015.jpg
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Bonus-amendment _206.doc