How to calculate exact amount of bonus
Jai Singh Saklani
(Querist) 05 August 2017
This query is : Open
Greeting to all members,
I wanted to know that how to calculate bonus on the lump sum amount of salary. I have case of an employee who is working since 1997 in a proprietorship firm. His salary was not bifurcated till FY. 16-17. He was getting salary in lump sum as mentioned below:
Years Salaries Annual Salary Bonus Payable @ 8.33% Limit according to Bonus Act 1965
Nov, 1997 2138
May ,1998 2138 25656 2,137.14 Where Basic is less than 3500
May ,1999 2352 28224 2,351.06 Where Basic is less than 3500
May ,2000 2587 31044 2,585.97 Where Basic is less than 3500
May ,2001 2846 34152 2,844.86 Where Basic is less than 3500
May ,2002 3131 37572 3,129.75 Where Basic is less than 3500
May ,2003 3444 41328 3,442.62 Where Basic is less than 3500
May ,2004 3788 45456 3,498.60 Calculated on 3500
May ,2005 4167 50004 3,498.60 Calculated on 3500
May ,2006 4584 55008 4,582.17 Where Basic is less than 10000
May ,2007 5042 60504 5,039.98 Where Basic is less than 10000
May ,2008 5546 66552 5,543.78 Where Basic is less than 10000
May ,2009 6101 73212 6,098.56 Where Basic is less than 10000
May ,2010 6711 80532 6,708.32 Where Basic is less than 10000
May ,2011 7382 88584 7,379.05 Where Basic is less than 10000
May ,2012 8120 97440 8,116.75 Where Basic is less than 10000
May ,2013 8932 107184 8,928.43 Where Basic is less than 10000
May ,2014 9825 117900 9,821.07 Where Basic is less than 10000
May ,2015 11000 132000 9,996.00 Calculated on 10000
May ,2016 12100 145200 9,996.00 Calculated on 10000
May ,2017 13310 159720 9,996.00 Calculated on 10000
This is what I have made a calculation of his bonus payable for the entire period of services. Please rectify if it is wrong. And suggest the right and appropriate case.
As he is not been paid any amount of bonus in any financial year. Please tell, is he eligible for the bonus upto date from the past years of his services or not ?
