We have to pay bonus of our contractual workmen (Workers on contract basis working under contractor's payroll) who are paid on monthly basis but as per present days in a month.
Out of 365 days in a year there are mandatory holidays also like 26th Jan., 15th Aug., 1st May., Holi, Diwali etc (excluding 52 weekly offs).
SO my query is is there any maximum days limit for calculation of bonus payable ..?
Your expertise will help me for calculation the bonus sheet.
11 October 2022
Eligibility for bonus. —Every employee shall be entitled to be paid by his employer in an accounting year, bonus, in accordance with the provisions of this Act, provided he has worked in the establishment for not less than thirty working days in that year.
Bonus not calculated on the basis of working days. The minimum bonus of 8.33% is payable by every industry and establishment under section 10 of the Act. The maximum bonus including productivity linked bonus that can be paid in any accounting year shall not exceed 20% of the salary/wage of an employee under the section 31 A of the Act.
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