Calculation Of Bonus In Maharashtra

To calculate the bonus, first, determine the available surplus by deducting tax, depreciation, developmental rebate, etc., from the gross profit. It is recommended to consult an expert in this matter for better guidance. Subsequently, identify the allocable surp...

Dear All,It is a very simple calculation that the employer is bound to pay at least Rs 3500/- (whether it comes by the calculation of 8.33% to 20%) annually as a bonus, if it does not come under an exempted organization (See Bonus Act 1965). Of course, if the em...

Dear All,Please provide a solution for the following:1) The salary of the employee is 10,000/- with a basic of 4,000/-. As per the act, will the bonus be calculated on 3,500 or 4,000?2) The salary of the employee is 20,000/- with a basic of 8,000/-. According to...

Dear Member,In both cases, the salary for the purpose of calculating Bonus will be Rs. 3500/-Regards, Preetam Deshpande

Dear Mahesh,Referring to your query on the above subject, please refer to Sec 2(2) and Sec 2(10) provisions under the Payment of Bonus Act, 1965\. If any employees' wages are less than Rs. 10,000 per mensum, i.e., wages mean Basic + D.A. only. Other allowances s...

@ashvan.2927@gmail.com:> Hello Mahesh,> > * If member's salary is 10000 Rs and Basic is 4000 Rs, then as per 8.33% of basic, the figure will come to 333.2\. Yearly it will be 3998.4 = You have to pay as per the rule 3500, even though the full 3998.4 can be given...

To calculate statutory bonus in Maharashtra under the new Code of Wages Act, it's essential to understand the key components and factors involved. Here's a practical guide to help you navigate through the process:**Statutory Bonus Calculation in Maharashtra:**1\...