Dear All,

Please help me about for calculation of bonus. If an employee has 7 days absent in a particular month. how should i calculated bonus for the particular month. Also if employees have earned basic salary exceeds Rs. 10,000 according to the new act.

Howz the calcualtion done.

Please help me out.

Aparna

Dear Aparna,

First I clear you those employee worked less than 30 days are not eligible to receive Bonus under the Act,

Second thing you are asking the payment of Bonus, ie; depend on your company , minimum bonus shall be 8.33% of salary/Wages earned & Maximum 20% of salary/Wages

i) Amendment to clause (13) of Section 2 of the Payment of Bonus Act, 1965 to raise the eligibility limit for payment of bonus from the salary or wage of Rs. 3500/- per month to Rs. 10000/- per month.

ii) Amendment to section 12 of the Payment of Bonus Act, 1965 to raise the ceiling for calculation purpose from the salary or wage of Rs. 2500/- per month to Rs. 3500/- per month;

Eg. Suppose his basic salary is Rs.10,000/-

He had worked 23 days(Including ur off days)

I) Minimum Bonus will be for the perticular Month--3500 X 23 X 8.33%

II) 10000 X 23 X 8.33%(OR 20% whatever you are giving ur employee's)

I think so it is enough for you, if you require any other clarification,  feel free to let know.

Thanks & Regards,

Craig