Calculation of bonus

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Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2013 what is the calculation of bonus? it means formula???

Guest

Guest (Expert)

31 December 2013 it is calculated on the ceiling limit of Rs 3500p.m @8.33%..it comes out to be 291p.m or 3500 per annum.

@VaibhavJ

@VaibhavJ (Expert)
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31 December 2013 Hi

First you have to check whether Basic salary + DA/ CCA is not exceeding Rs. 10000.

After that to all applicable cases you have to pay 8.33% of their paid Basic + DA/CCA of every month they worked in the financial year.

If Basic + DA/CCA exceeds Rs. 3500 then you have to restrict it to Rs.3500.

After that you have to give effect for absenteeism for each month.

This is how you calculate minimum Bonus payable.

If there is allocable surplus in current year or set on from previous year then you will be required to pay bonus more than 8.33%.

Pl refer: https://www.caclubindia.com/share_files/computation-of-the-allocable-surplus-under-section-2-4-of-bonus-act-60407.asp

&

https://www.caclubindia.com/share_files/payment-of-bonus-form-a-b-c-and-d-60461.asp

Thanks//VaibhavJ

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@VaibhavJ

@VaibhavJ (Expert)
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31 December 2013 you can use this excel calculator prepared by me:

https://www.caclubindia.com/forum/files_download.asp?msg_id=1266300

Thanks