Need help for bonus calculation If few employees at supervisor level have less basic than their juniors then in which category they fall for bonus calculation. Skilled /unskilled
From India, Delhi
From India, Delhi
Supervisors are skilled or highly skilled category. There is nothing to do with the salary level. The salary level of juniors may be more than those supervisors due to experience, age etc.
For the purpose of bonus calculation the supervisors should be considered at least Skilled level of minimum wages.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
From India, New Delhi
300For the purpose of bonus calculation the supervisors should be considered at least Skilled level of minimum wages.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
From India, New Delhi
Hi, It all depends on the seniority of the employee in the Organization and other factors.
From India, Madras
From India, Madras
Bonus is paid as per the agreed calculation formula, as a % of Basic Wages + DA computed annually. For Supervisors and others the same % and formula could be used as is applicable to the workers. This will help in maintaining uniformity and will blunt any criticism of favouritism
From India, Mumbai
From India, Mumbai
I think the question is all about the base of "Rs 7000 or the minimum wages fixed whichever is higher". If so, you can find the wages as per Minimum Wages notification as applicable to supervisors and even Managers in it. You can take it. Obviously, if the basic + DA (or the bonus qualifying salary) of all exceed Rs 7000, you can base your calculation of bonus on the basis of minimum wages notification.
From India, Kannur
From India, Kannur
Dear Nisha
If you are referring to Statutory Bonus- criteria will be governed by provision of Payment of Bonus Act, 1965 accordingly an employee who was employed for minimum 30 days in corresponding accounting year and draws wages less than Rs. 21,000/- is eligible for Bonus. Bonus will be minimum 8.33% of wages earned by him during the accounting year. If he is governed by minimum wages it will be min wags or Rs. 7000/- whichever is higher.
If you are referring to any other type of Bonus like Performance Bonus or incentive Bonus than the same would be governed by your organization's policy wage and compensation policy.
Regards
Shailesh Parikh
99 98 97 10 65
Vadodara, Gujarat
From India, Mumbai
If you are referring to Statutory Bonus- criteria will be governed by provision of Payment of Bonus Act, 1965 accordingly an employee who was employed for minimum 30 days in corresponding accounting year and draws wages less than Rs. 21,000/- is eligible for Bonus. Bonus will be minimum 8.33% of wages earned by him during the accounting year. If he is governed by minimum wages it will be min wags or Rs. 7000/- whichever is higher.
If you are referring to any other type of Bonus like Performance Bonus or incentive Bonus than the same would be governed by your organization's policy wage and compensation policy.
Regards
Shailesh Parikh
99 98 97 10 65
Vadodara, Gujarat
From India, Mumbai
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