Thanks for reply....
further to this i wanted to ask,we can pay the bonus b/w 8.33% to 20% as per companys profitability,but how exactly percentage of bonus is corelated to profitability i.e. at which amount of company profit we can decide the 15% bonus.
Regards
Minakshi
From India, Delhi
5further to this i wanted to ask,we can pay the bonus b/w 8.33% to 20% as per companys profitability,but how exactly percentage of bonus is corelated to profitability i.e. at which amount of company profit we can decide the 15% bonus.
Regards
Minakshi
From India, Delhi
Dear Minakshi
If your company does not have any allocable surplus then your company must pay atleast 8.33% of Bonus. The Auditing might have completed for the FY 2011-12 and the profit and allocable surplus might have been declared. If you ask your auditing team, they will guide you on the percentage of Bonus can be paid. Please do put up the same to your management and get it approved and start preparing the Form C (Bonus Register) and Bonus Voucher. Pay the Bonus before 30 Nov 2012, so that you can avoid unwanted legal problems.
From India, Kumbakonam
If your company does not have any allocable surplus then your company must pay atleast 8.33% of Bonus. The Auditing might have completed for the FY 2011-12 and the profit and allocable surplus might have been declared. If you ask your auditing team, they will guide you on the percentage of Bonus can be paid. Please do put up the same to your management and get it approved and start preparing the Form C (Bonus Register) and Bonus Voucher. Pay the Bonus before 30 Nov 2012, so that you can avoid unwanted legal problems.
From India, Kumbakonam
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Bonus Calculation.xls
BONUS CALCULATION RULE (1).pdf