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Bonus Calculation System For 3500 Above Basic - CiteHR

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pawandarda
10

I am little bit confuse for calculation bonus as per following :
My worker has basic salary earning
April - 5800
May - 5800
June - 5800
July - 4000
August - 5500
Sep - 5800
Oct - 3200
Nov - 2250
Dec - 5800
Jan - 5800
Feb - 5800
Mar - 5800
Total basic earned during year = 61350.00
now I am calculating bouns sheet :
April - 3500
May - 3500
June - 3500
July - 3500
August - 3500
Sep - 3500
Oct - 3200
Nov - 2250
Dec - 3500
Jan - 3500
Feb - 3500
Mar - 3500
Now total basic as per bonus act is = 40450
now bonux is 40450 x 8.33% = 3370.00
actually as per bonus act I have replace each month basic to 3500 if basic is more than 3500.
I show it to my legal consultant, he told it is ok.
But I want to be sure.
can you please sugggest us.

From India, Rajkot
dksrivastava
77

Dear Mr Pawan Your calculation is correct. Regards DK Srivastava 8400156666
From India, Pune
sumitk.saxena
252

Dear Mr. Pawan,
Greetings for the day,
On going to the calculation cited above it was observed that in few month basic salary is lesser than Rs. 5800/- I think that no. of days were not 30 or 31 days in that case the rs. 3500(onus salary) should be bonus salary/30 or 31days* no. of paid days.
Thanks & Regards,
form,
sumit kumar saxena

From India, Ghaziabad
janardan_raccha
85

Dear Pawan,
Mr. Sumit has also correctly suggested but I would recommend you to go with the calculations prepared by your organization. However it is very difficult to justify at the time of audits.
Regards,
Janardan

From India, Mumbai
pawandarda
10

as per salary structure, if full present then basic earning is 5800.00 is days is less in some month, basic salary is less accordingly. I think, My calculation is correct.
From India, Rajkot
jai_b1187
2

Dear Pawan,

You have to calculate bonus on 3500. If no. of present days in a month is full (i.e. 30/31) then you should take basic as 3500 otherwise your have to calculate basic as:
3500/ no.of days in the month X no. of present days=basic wages for bonus.
After calculating the basic for 12 months you should take 8.33% of sum of total basic.
Regards,
Jai

From India
anju hr executive
1

Dear seniors , Please tell me , IS 3500 is Fixed amount of bonus ?
From India
kannanmv
256

Greetings Anju
The computation suggested by Jai is correct. Rs.3500/- is the wage ceiling for payment of bonus if the employee works for the whole of the month.
The reason why the calculation indicated by Jai is correct because, if you start paying @ Rs.3500/- for employees (above the wage ceiling of Rs.3500/-) who have worked without LOP and with LOP then those who are working for the whole of the month will be disgruntled because the person who was on LOP will also be getting the same amount.
In case you need any clarification please feel free to ask
M.V.Kannan

From India, Madras
dilipbishtsingh24@rediffmail.com
Dear sir, My salary is 14000+2000 . so kya mujhe Bounus milna chahiya aur Kinta milna chaiya. Main ek Pvt. Ltd. Construction company mein kaam karta hu. Please reply me. Thanks
From India, Delhi
korgaonkar k a
2555

Dear Pawandarda, Your calculation is correct. I request you to make it in excel spreadsheet and down load it for the benefit of other members. Its very simple.
From India, Mumbai
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