Bobus quarry

Rizwan Pathan (Querist) 29 October 2011 This query is : Resolved
Dear Experts

If we took and employee on stipend so in case of bonus how much amount will be given to him.

1. Wether it Is equal to his stipend?
2. Or fix% amount from his stipend.
3. I.e if a employee getting 12000 as his stipend so at the time of bonus he will getting minimum 12000(as per 8.33%)
or any other calculation is there.

Awaiting or your view.

Regards,

Rizwan Pathan

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Shailesh Kr. Shah (Expert) 29 October 2011
1. it is not necessary,suppose employee works only 10 months then minimum bonus would be 3500*10*8.33%.

2.No fixed amount.

3. Bonus is not payable, whose salary/wages is more than 10000 pm.

calculate bonus as under:-

mr x salary is 8500 pm. he is working 12 months in last accounting year.

so minimum bonus is 3500*12*8.33%.