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how we calculate bonus if emp getting basic and da 4000 and his gross salary is 10000. is he eligible? if yes then how we calculate
From India , Patiala
how we calculate bonus if emp getting basic and da 4000 and his gross salary is 10000. is he eligible? if yes then how we calculate
Hi,
He is eligible to get bonus.
Calculation:
Basix + DA is Rs.4,000.00 pm
Bonus Calculation: 4000x12x8.33%(minimum bonus)
Bonus is Rs.3998.40
Regards,
Velmailv
From India , Coimbatore
how we calculate bonus if emp getting basic and da 4000 and his gross salary is 10000. is he eligible? if yes then how we calculate
Hi,
He is eligible to get bonus.
Calculation:
Basic + DA is Rs.4,000.00 pm
Bonus Calculation: 4000x12x8.33%(minimum bonus)
Bonus is Rs.3998.40
Regards,
Velmailv
thank You am really satisfied with this reply.... here my Question is bonus calculation as per above 4000x12x8.33% - 4000 is Basic + DA x 12 [(is it a month ???(one year)] x 8.33% declared % .
if it is a month, if an employee joined mid of the year, assume that might joined in the month of August then how do u calculate it ???? pls explain me in detail
Regards,
Pratima.
From India , Bangalore
Dear All,
Need your help friends!!!!
Currently, we have openings for fresher (2-Tech Support, 1 - Java, 2 - .Net, 1 - Lotus Notes). Request you to send me the profiles.So that, we can shortlist the profiles. Based on the profiles, we will call them to attend a interview.
Pls let me know EDLI (insurance). what is the amount to be paid to PF depat?........ and how to define the salary structure.

Thanks
Joe

Dear Pratima,
Hope, bonus will nor give for 1 year. In my company, we hv changed the pay structure. (ie.,Basic, hra, da, Spl. all and bonus). So, if sum one joined in mid of the month, we can easily calculate the bonus.

Thanks
Joe
From United States ,

Dear Pratima,
Hope, bonus will nor give for 1 year. In my company, we hv changed the pay structure. (ie.,Basic, hra, da, Spl. all and bonus). So, if sum one joined in mid of the month, we can easily calculate the bonus.
Thanks
Joe


Dear Joe,

Thank u 4 u r reply... above u said bonus will not give for 1year wat is the method ??? how do u conceder ?? what is the method for new joned Emp??

Regards
Pratima

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From India , Bangalore
Dear Pratima,
(Basic + DA = Rs.4,000.00) if Basic is Rs.4000 means + add DA amount
X 12 is (one Year)(for taking bonus earnings) X 8.33% declared.
If it is a month, you take Total bonus earnings of an employee who joined
mid of the year (i.e financial year April-Mar) X 8.33% declared %
for an example:
A is joined in Aug 2006 and his basic + Da is Rs.5500.00
Total bonus earnings = 5500(Basic+DA)x8(Aug06toMar07=8months)
= Rs.44000x8.33% declared = Rs.3665.20.
Regards
Velmailv
Bonus deduction is applicable under Sec 18 of the Payment of Bonus Act
1965 for any accounting year an employee is found guilty of misconduct
causing any financial loss to the company.The employer may deduct the amount of loss from bonus payable to him in respect of that accounting
year only.
Regards.
Velmail.V
From India , Coimbatore
Hi Ashwani,
As per Bonus Act there is limit for computation of Bonus.
If gross salary is 10000 and below and total Basic+DA+permisable allw. is 4000/-and if employee's attendance is 100% then He/She is entitle to draw Bonus as bellow.
3500 x 12 = 42000/-
Declare rate of Bonus >=20 % or minimum 8.33% to be calculated on above limit of Rs 42000/-
If Bonus % is declared 8.33% then Bonus would be RS 3498.6
If Bonus % is declared 10% then Bonus would be RS4200.00.
Any thing considered above 3500/- limit would be treated as Ex-gratia
Regds,
Haren
From India , Mumbai
Dear All
As per the provisions of the Payment of Bonus Act, all employees whose salary is Rs.10000/- (basic and DA) and below are eligible for bonus.
But, payment of bonus is restricted to Rs.3500/-. This means, even though his salary (basic + DA) is more than Rs.3500/- it should be treated as Rs.3500/- only.
For example, for the employee who gets salary of Rs.4000/-, the salary is to be taken as Rs.3500/- and calculate bonus as below:
Salary x 12 months x percentage of bonus. This means
3500 x 12 x 8.33%
In the case where the monthly salary is less than Rs.3500/-, for calculation the actual salary is to be taken.
The percentage of bonus is arrived at based on the formula of:
Available surplus
Allocable Surplus
Set on and set off - which is explained in the Act. This is based on the profit of the organisation and generally Auditors would be able to guide the HR team to arrive at the percentage.
Thanks
G.Sankaranarayanan
Sans Management Solutions

19th Sep 2008
From India , Madras
IF Bonus given before diwali. How I take 1 year for calculation (April to Mar) or (Nov to Oct) which is correct as per bonus act.
From India , Madras
Dear Pratima,

Initially we hv paid like basic, hra, da & spl. allowance. Now, we hv chaged the pay stature as basic, hra, da, spl.all & bonus (we hv included bonus column and added the bonus amt in the bonus stature). If I joined in the month of May. The company will not pay the bonus.
For bonus, I have joined before March (financial year). Existing emp.,ís bonus, we can pay it as arrears.

Thanks
Joe
From United States ,
Hi,
He is elegible for the bonus
but as per the payment of bonus act, it is not compulsary that we need to pay the bonus for entire Basic+da(4000 in your case), as per act it was restricted to 3500 (max) only irrespective of the basic+da (say 8500 is basic+da)
calculation:
3500*12*8.33% is cent percent correct.
Regards
Sateesh,
HR, UB Group
+91 9949128491
From India , Hyderabad

Thank you for your useful information.... i had one more quarry regarding Bonus :

I gone through few others Bonus reply

Example: 1) As per the payment of bonus act, it was restricted to 3500 max ( basic+DA)

2)salary is Rs.10000/- (basic and DA) and below are eligible for bonus

So calculation will be - Basic+Da(less then 10000.00) x financial year x % (Declared % )

So my Question is ????

Assume that Employee Basic + DA is 12000 will they be consider under Bonus???

If it is yes what is the basic consideration on the 12000(Basic + DA) ???

Regards
Pratima
From India , Bangalore
Dear Friends
Pls help me regarding the minimum eligibility of working days for bonus what the Act says and what usually all the companies are following

Thanks Regards

Munaf Ali.T.L
Dear Friends
Pls help me regarding the minimum eligibility of working days for bonus what the Act says and what usually all the companies are following

Thanks Regards

Munaf Ali.T.L
[quote=munafali1982;2533]Dear Friends
Pls help me regarding the minimum eligibility of working days for bonus what the Act says and what usually all the companies are following

Thanks Regards

Munaf Ali.T.L
Sorry For the Spelling Mistake In the title
From India , Bangalore
As per Bonus Act now 10000/- basic + DA is upper sealing limit and 3500/- is the lower sealing limit.
Upper sealing limit in the sence people who draws below Rs.10000/-(Basic+DA) those employees are eligible for bonus.
Minimum 30 Days attendence is also mandatory for Bonus.
Formula of Minimum Bonus calculation: (BAsic+DA)/12 * 8.33% or Rs.3500/- which ever is lesser.
Formula of Maximum Bonus calculation: (BAsic+DA)/12 * 20%
If any employee crosess 10000/- basic + DA they will come under exgratia.
From India , Mumbai
Hi Joe,
we have checked with labour department on including the bonus in pay struture and pay it monthly. but according to the department, it will be considered as advance against bonus and not bonus. so please let us know whether it is allowed to pay monthly with salry.
Mohan
From India , Bangalore
Is the 8.33% is standard to all concerns for calculating bonus. if it is minimum percentage, then what is the maximum S. Saravanan
From India , Madras
hi, i am kashyap need a sample letter of transfer to home city because of family problem, i understand requirements are their, my spouse and two daughters are living their and studing on higher class,also my wife is bp/sugar pasent need my help. from last 1 yr i have jion this new construction company,pl help me
From India , Jaipur
If Basic Pay is up to Rs 10,000/- pm. the Bonus will be calculated considering it is Rs.3500/-.
If bonus is 20% and attendance is full it will arrive Rs.8400/-max. as per Bonus Act.
And if basic is Rs2210/- conisering full attandance aross the year (Apr to Mar) and bonus declaration is 20% the amout will be (20x2210/100) for each month, the figure will be:wacko: Rs5304 for the year.
Based on attendance. :wacko:
From India , Vasai
Dear Friends,
I am joining in a new job. The employer asked me for three years employement bond. As per the terms & condition incase i want to leave before the bond expires then i have to pay them the left over period full salary. Kindly advice me is this bond only bound the employee, not the employer. Incase he fires me before the expire period what should i do. kindly advice me at this link .
Regards.
Rakesh Kumar
From India , New Delhi
As per last year changes max. bonus emp can get is Rs. 8400. ( 20% ) 8.33 % IS Minum Bonus max is 20 % Salary Limit is for the caluation is Rs. 3500 ( Basic + DA ). 3500 * 12 *20 % = 8400. TAP
From India , Pune
Companies deputing staffs to branches in other cities and paying them City Compensatory Allowances (CCA) depending on the classification of the City deputed-to will have to take into calculation the CCA for giving Bonus. No other allowance is included except DA & CCA.

Any coments?

No, my dear. Its the Employer's discretion. It may so happen that somewhere in between all those clauses in your employment bond, they might have also added this clause that if you are dismissed in between your bondage period for some misdemeanour then they will also recover the salary for the left-over period. So, please go through it thoroughly scrutinising each & every clause, word & sentence or take it to a proper lawyer as these are legal documents to always put you in a bind.

No, my dear. Its the Employer's discretion. It may so happen that somewhere in between all those clauses in your employment bond, they might have also added this clause that if you are dismissed in between your bondage period for some misdemeanour then they will also recover the salary for the left-over period. So, please go through it thoroughly scrutinising each & every clause, word & sentence or take it to a proper lawyer as these are legal documents to always put you in a bind.

Dear Mr. Mohan,

What Labour Dept. told is correct even though Many Establishments have started following these principles to save from year-ending Bonus blues. But, you can pay subject to reconcilliation with Bonus provisions declared for your Company.

Regards

Hi Joe!

EDLI i.e. Employees Deposit Linked Insurance Scheme is part of the PF Bouquet. So, statutory. Option is that you can tie up with LIC for the same & pay only 0.005% of total PF salary (maximum 6500. But if you pay to PF Office then pay @0.5% of total wages subject to a ceiling of Rs. 6500/- per month ( w.e.f. 1-06-2001 ) plus 0.01% is administration charges. No amount is recovered from employee's wages.

Ok.
Regards


November 29th is the D'day for Bonus. So, before that you have to pay Bonus. Bonus paid during a Financial year is actually paid for the previous finacial year. As you know a financial year is from 01/04 to 31/03.

Ok

Regards
From India , Calcutta
Bonus is payable but you have to take ceiling of Rs. 2500/- pm i.e. maximum Rs. 500/- per month can be paid as bonus. now you can calculate bonus as per No. of days employee has worked in each month.
From India , Pune
Dear Sir,
Nice & accurate reply, I hope that everyone now be clear reg. bonus
Dear Nitin,
Bonus Ceiling has been revised to Rs. 3500/-, from 2500/- and eligibility citeria is also revised from 3500/- to Rs. 10000/- (Basic+DA),wef 01/04/2007
Regds
Deepak
Dear Sir,
As per Act, Apr to Mar
Regds
Deepak
From India , Delhi
Hi,
I would like to know whether bonus is calculated on Basic salary or on the Gross Salary.
As per the provisions of the Payment of Bonus Act, if an employees whose salary is Rs.10000/- and below is eligible for bonus. does it mean 10K gross (inclusive of Basic, HRA, COnveyance, Medical and special allowance) or 10K as basic salary.
Regards,
YogitaK
From India , Mumbai
hai, Bonus is calculated for 1 year i.e. Apr- mar. We have 8 months to give that bonus. within 8 months that bonus should give.
From India , Madras
hi
I have a query regarding the bonus. if you observed the norms of the act, minimum payable bonus is 8.33% which is equalent to One month's salary (subjected to max Rs.3500.00) and coming to max why it is 20% only? Why donít we (govt.) go for 25% are 30% are etc, anyway it is (maximum) is depending on available or allocable surplus which is treated as one type of profit or shares to be distributed to employees.

i have few answers which required support with the same answers.

regards,
rajesh
From India , Mumbai
Hi, He is eligible to get bonus. Bonus Calculation : Basic + DA x 12 x bonus percentage declared 4000 x 12 x 8.33% (minimum 8.33) This is ok for you. Regards, Velmailv
From India , Coimbatore
Hi,
How we calculate bonus if emp getting basic and da 4000 and his gross salary is 10000. is he eligible? if yes then how we calculate
This may help you
we need to take it on 3500/- (basic)
ie 3500*12*8.33%
From India , Belgaum
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