Members,

Please do the bonus calculation for the following terms because i m totally confused in this respect.

Basic 4500 Basic 9000 Basic 10000 Basic12000

What is the exact execution of : 8.33%(min) and 20%(max) or wages earned during the relevant accounting year.(what is the mean of this black bold line)

I will be very thankful to all of you to describe this with an appropriate example

*(What is the limit for entitlement towards Bonus)

Regards

Dear Abhilasha,

As per the latest amendment in the Bonus Act, the eligibility for the Bonus is as under :

It is applicable to those who are drawing the wages less than Rs. 10000.00 per month.

Minimum Limit for the Bonus is 8.33% and maximum is 20%.

Minmum Bonus @ 8.33% for the employee drawing wages more than Rs. 3500.00 and less than Rs. 10000.00 will be Rs. 3500.00 as the Act.

For the Employees drawing wages less than 3500.00 per month will be paid on actuals.


hope this will clear your query.

Attached Files

Bonus Act.doc (234.0 KB, 0 views)