Thursday, 29 September 2011

Bonus calculation in Excel as per payment of bonus act.

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.


Note: 
  1. Employees drawing salary or Rs. 10,000 and below who has worked for more than 30 days are eligible for bonus.                  
  2. If salary is more than 3,500. bonus is calculated on Rs. 3,500                   
  3. If Employee is absent during the year ( Leave without salary) the bonus is proportionately reduced.                  
  4. Minimum Bonus payable is Rs. 100.                  
  5. Please update Eligible salary and number of days worked in each month.                

Bonus calculation in Excel as per payment of bonus act. Click here to Download

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