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Bonus calculation

(Querist) 29 October 2011 This query is : Resolved 
Dear Sir,

Bonus calculation if the amount will be calculated to a maximum of 3500/- and not 9500/-. So, if bonus declared is 15% for the year then bonus to the employee will be 15% of 3500 i.e: 525/ x 12 = 3024 , is it correct ?

Regards,

PBS KUMAR
Report Abuse
Shailesh Kr. Shah (Expert) 29 October 2011
No, its not correct!!!!

Right Amount is Rs.6300/=.
prabhakar singh (Expert) 29 October 2011
Agree with Mr. Shah.
Raj Kumar Makkad (Expert) 29 October 2011
Fully agreed.
Jacob Pratap (Expert) 01 November 2011
The calculation is : 3500 x 12 x 15% = 6300

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