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Sep 19, 2023 · Learn how to calculate your statutory bonus based on your salary and eligibility rules in India. Explore the common types of bonuses that employers offer and how they affect your earnings.
Calculation of Bonus as per Bonus Act (Amendment of 2015) If the gross earning of your employees is below Rs.21000 you are eligible to pay a bonus. Calculation of bonus will be as follows:
Calculate how much bonus amount payable to employees based on salary, minimum wage and payable days as per The Payment of Bonus Act. Enter monthly basic + DA amount, minimum wage amount and payable days, and recalculate bonus amount for each month and year.
- Payment of Bonus Act. Under the Payment of Bonus Act, 1965, certain categories of employees are entitled to receive a statutory bonus calculated by reference to the employee’s salary and the employer’s profits.
- Bonus Rules in India. There have been many amendments since the act came into force. The main changes to the Act are: Eligibility for the bonus has been increased to include employees’ income up to Rs.
- Applicability of the Act. The provisions under the Payment of Bonus Act, 1965 are applicable to every factory and establishment which has 20 or more employees.
- Employee’s Eligibility to Receive Statutory Bonus. Below is the eligibility criteria for getting Statutory Bonus: Eligibility for statutory bonus has been broadened to include employees earning up to Rs.
Learn about the types of bonuses for employees and the formula to calculate bonus based on your salary. Find out the eligibility criteria, the minimum and maximum bonus rates, and the factors that affect bonus payment.
Jun 27, 2024 · Learn about bonus pay, a financial compensation that is above and beyond the normal salary of the employee. Find out how bonus pay is calculated, paid, and disqualified under the Payment of Bonus Act, 1965 in India.
Calculate your statutory bonus with this free tool based on your salary, bonus percentage and minimum wage. Learn more about the eligibility, formula and disbursement of statutory bonus in India.
