May I know the what should be taken as base to calculate the amount of bonus and what are the % of bonus?
From India
From India
12
While calculating the bonus, the followings to be kept in mind:-
1. All employee drawing salary/wages Rs. 21000/- and below are eligible.
2. The base to calculate the bonus is Rs. 7000/- or as per his skill category of work but minimum base will remain as Rs. 7000/-.
3. The minimum bonus as per section 10 shall be 8.33% and maximum 20%.
4. The minimum working eligibility in the establishment is 30 days and above as per Section 8.
Ratan Bhardwaj
VOPL Prithla
From India, Noida
1. All employee drawing salary/wages Rs. 21000/- and below are eligible.
2. The base to calculate the bonus is Rs. 7000/- or as per his skill category of work but minimum base will remain as Rs. 7000/-.
3. The minimum bonus as per section 10 shall be 8.33% and maximum 20%.
4. The minimum working eligibility in the establishment is 30 days and above as per Section 8.
Ratan Bhardwaj
VOPL Prithla
From India, Noida
I suggest you read the Payment of Bonus Act and understand how bonus is calculated. Also the workings are provided many times on this forum, so you can search for the posts and read from it
From India, Mumbai
From India, Mumbai
For example
Example 1. minimum wages as per Govt notification, the skill category of Mr. John is Rs. 6900/- pm, but for calculating his bonus, base shall be Rs. 7000/- not 6900/-. For calculating the bonus, the base should be Rs. 7000/- or individual’s skill category, whichever is higher, as per Govt gazette notification on bonus.
Example 2. minimum wages as per skill category of Mr. John is Rs. 10000/- pm, then for calculating his bonus, base will be Rs. 10000/- not 7000/- because the clause, whichever is higher, will apply.
Please refer law and Govt gazette notifications before taking any decision.
Thanks
Ratan Bhardwaj
VOPL Prithla
From India, Noida
Example 1. minimum wages as per Govt notification, the skill category of Mr. John is Rs. 6900/- pm, but for calculating his bonus, base shall be Rs. 7000/- not 6900/-. For calculating the bonus, the base should be Rs. 7000/- or individual’s skill category, whichever is higher, as per Govt gazette notification on bonus.
Example 2. minimum wages as per skill category of Mr. John is Rs. 10000/- pm, then for calculating his bonus, base will be Rs. 10000/- not 7000/- because the clause, whichever is higher, will apply.
Please refer law and Govt gazette notifications before taking any decision.
Thanks
Ratan Bhardwaj
VOPL Prithla
From India, Noida
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