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Bonus calculation starts with Available surplus from audited Balance sheet/PL Account. It is done by accounts department. Then there is allocable surplus which is certain % of available surplus. Then for organizations who are already paying bonus will consider Set on & Set off to arrive at final % of bonus.
Now for the employees the calculation will be on the basis of 7000/- or minimum wages which ever is higher and actual number of days present without LWP subject to minimum 30 days present with pay in the year.
Please go through the Bonus Act and at schedule you will find the example of set on & set off and others.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
From India, New Delhi
Now for the employees the calculation will be on the basis of 7000/- or minimum wages which ever is higher and actual number of days present without LWP subject to minimum 30 days present with pay in the year.
Please go through the Bonus Act and at schedule you will find the example of set on & set off and others.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
From India, New Delhi
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