Payment of bonus is a statutory obligation of the employer as per payment of bonus act. The excel file will calculate the bonus amount payable as per the provisions of the act.
- Employees drawing salary or Rs. 10,000 and below who has worked for more than 30 days are eligible for bonus.
- If salary is more than 3,500. bonus is calculated on Rs. 3,500
- If Employee is absent during the year ( Leave without salary) the bonus is proportionately reduced.
- Minimum Bonus payable is Rs. 100.
- Please update Eligible salary and number of days worked in each month.