ysingh1968 - Member Since: Oct 2008 Subject - BONUS
Pls. help.
An employee drawing basic salary Rs.3700/- per mensem is eligible for bonus as follows :-
3500 X 12 X Bonus Rate.
If due to absence in every month his payment is deducted but is above Rs.3500/-, then whether calculation of Bonus will be same as above or after deduction due to absence proportionately from Rs.3500/-.
Also pls. provide rulings if any in support .
YOGENDRA
malikjsContributing Member - Member Since: Oct 2008 Subject - Re: BONUS
dear you are correct .if someone is absent in anymonth his salary will be reduced from 3500 proportionally.ruling is not reqd as it is given in act itself.
tks
j s malik
jitendersyadavContributing Member - Member Since: Sep 2008 Subject - Re: BONUS
You are correct Mr. Malik.
To calculate the Bonus of the employee, whose salary is >3500/-. Frist we calculate his monthly salary i.e. 3500/26*No. of Working Days. On the calculated salary, we calculate bonus accordingly.
Rgds/Jitender
vyasaivallal - Member Since: Oct 2008 Subject - Re: BONUS
Dear Folks,
According to my knowledge, the celing amount for calculating min / max bonus was Rs.2,500/-
Can you please let me know, whether there is any change in the celing amount.
Regards
Vyasaivallal
malikjsContributing Member - Member Since: Oct 2008 Subject - Re: BONUS
dear
yes there is change with effect from the finacial year 2006-07 onwards.
now eligiblity for bonus is 10000 and calculation will be done on 3500/-
yks
j s malik
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