Statutory bonus under the Payment of Bonus Act, with the two separate salary limits that catch people out: one decides whether you qualify, and a much lower one decides what the bonus is computed on.
Also called: statutory bonus, diwali bonus calculator.
₹6,997 for 12 months at 8.33%. Your salary is within the eligibility limit, so the Act applies. The bonus is computed on ₹7,000 a month, not on your actual salary.
An estimate, not an offer or a guarantee. Projected returns assume the rate you entered holds for the whole term, which no market does.
This is what the calculation gives for the numbers you entered. It is an estimate, not advice, and it knows nothing about your situation beyond those numbers. Rules for India change on a published schedule; the effective date is shown on every rule-based tool.
Two ceilings do different jobs. The eligibility limit decides whether you are covered at all. The calculation ceiling, which is far lower, is the salary the bonus is actually computed on, so someone earning well above it receives a bonus based on the ceiling rather than on their pay. The rate is between 8.33% and 20%, declared by the employer from allocable surplus, and 8.33% is a floor payable even in a loss-making year.
bonus = the lower of salary and the calculation ceiling, times months worked, times the rateEach of these is asserted on every build. If a change to the engine ever moved one of these answers, the build would fail before the page could print it.
Statutory bonus₹6,997
7000 * 12 * 8.33%, worked by hand on the ceiling rather than the salary
Open this exampleStatutory bonus₹8,400
7000 * 6 * 20%, at the statutory maximum rate
Open this exampleStatutory bonus₹0
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Open this exampleFormula version 1.0.0 · definition 1.0.0 · India · Report a problem with this calculator