hello,
I work for a BPO and i would like to know what components of salary are calculated for statutory bonus and i am also mentioning the components that are in my salary slip please let know about this.
1.Basic
2.HRA
3.Conveyance Allowance
4.Medical Reimbursements
5.Leave Travel Allowance
6.Coach Allowance
Regards
Feroz
From India, Hyderabad
I work for a BPO and i would like to know what components of salary are calculated for statutory bonus and i am also mentioning the components that are in my salary slip please let know about this.
1.Basic
2.HRA
3.Conveyance Allowance
4.Medical Reimbursements
5.Leave Travel Allowance
6.Coach Allowance
Regards
Feroz
From India, Hyderabad
Dear Feroz, Why don’t you go through Sec.2(21) of the Payment of Bonus Act,1965 and then raise this query in case of still any doubt?
From India, Salem
5967From India, Salem
Dear Friend,
For Bonus calculation only Basic+DA and VDA is to be taken. Other allowances should be taken. In the absence of DAs, the bonus is to be calculated only on Basic. It should be in line with the Minimum wages Act or the minimum bonus of Rs. 7000/-.
G.K.Manjunath,
Sr. Manager-HR
From United States, Cambridge
For Bonus calculation only Basic+DA and VDA is to be taken. Other allowances should be taken. In the absence of DAs, the bonus is to be calculated only on Basic. It should be in line with the Minimum wages Act or the minimum bonus of Rs. 7000/-.
G.K.Manjunath,
Sr. Manager-HR
From United States, Cambridge
thanks for the reply however i just wanted to check if HRA component is calculated for bonus regards Feroz
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SALARY CAN BE SPLIT INTO COMPONENTS BUT NOT LESS THAN THE MINIMUM WAGES.docx