Introduction
The Bonus Calculation Format Excel Sheet 2018 is a powerful tool for calculating employee bonuses. It is designed to help employers quickly and accurately calculate bonuses for their employees. The Excel sheet includes a comprehensive set of formulas that can be used to calculate bonuses based on a variety of criteria, such as performance, length of service, and other factors. The sheet also includes a variety of features that make it easy to customize the bonus calculation process to meet the needs of any organization. With the Bonus Calculation Format Excel Sheet 2018, employers can easily and accurately calculate bonuses for their employees.
Bonus Calculation Format Excel Sheet 2018 With Formula
A B C D E F G
1 Employee Name Base Salary Bonus % Bonus Amount Total Salary Formula
2 John Doe $50,000 10% =C2*D2 =C2+E2 =C2*D2+C2
3 Jane Doe $60,000 15% =C3*D3 =C3+E3 =C3*D3+C3
4 Joe Smith $70,000 20% =C4*D4 =C4+E4 =C4*D4+C4
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Bonus Act Applicability: Payment of bonus act 1965 will be applicable to entire India where an organization employs a minimum of 10 employees with aid of power and organizations which employs a minimum of 20 employees without the aid of power. Here you can know complete details about bonus act 1965 and bonus calculation process.
What is Payment of Bonus Act 1965
Eligibility
Any employees whose monthly salary is less than 21000 Rs and when he or she works for at least 30 days in a financial year will be eligible to get the bonus under bonus act 1965.
Earlier the minimum wage limit to get the bonus is 10000 Rs but as per the amendments made in the payment of bonus act 2015 bill the wage, the limit is increased to 21000 Rs. So as per the latest amendments, the minimum wage ceiling limit for the bonus is 21000 Rs i.e employees whose salary is less than 21000 Rs will get the bonus.
Read : Gratuity Calculation In India
Note: The maximum bonus salary that will be considered for bonus calculation is 7000 Rs. For an example, if an employee basic salary + DA is 12000 Rs then only 7000 Rs will be considered for bonus calculation.
If an employee basic salary + DA is less than 7000 Rs then the original basic + DA will be considered for bonus calculation. For an example, if an employee basic +DA is 5500 Rs then 5500 Rs will be considered for bonus calculations.
However, some organizations will pay more than this limit, when it is more then there is no problem
Bonus Calculation
Bonus will be calculated on basic salary + Dearness Allowances (DA) of employees. Other house rent allowances and incentives are not included in bonus calculation.
A minimum of 8.33% of the bonus is mandatory that every employer has to give it to their employees and the maximum percentage in 20%.
Bonus Calculation in India with example
For an example if an employee basic salary is 12000 Rs ( here we will take 7000 Rs only as bonus salary) and he works for 12 months in a financial year then the bonus amount he will get in that year will be calculated like this :
Bonus Calculation Formula In India = (Basic Salary + DA) x Number Of Months Worked x 8.33%
= 7000 x 12 x 8.33% = 6997 Rs
Bonus Calculation Excel sheet: Bonus calculation excel sheet will be like in below image.
↓ Download Bonus Calculation Excel Sheet
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Calculating bonuses can be a tricky process, but with the right Excel sheet, it can be made much easier. The Bonus Calculation Format Excel Sheet 2018 With Formula is a great tool for calculating bonuses for employees. This Excel sheet is designed to make the process of calculating bonuses easier and more accurate. It includes a formula that takes into account the employee’s salary, performance, and other factors to determine the bonus amount.
The Bonus Calculation Format Excel Sheet 2018 With Formula is easy to use and understand. It includes a detailed explanation of the formula and how it works. It also includes a sample calculation to help you understand the formula better. The sheet also includes a section for entering the employee’s salary and performance information. This information is used to calculate the bonus amount.
The Bonus Calculation Format Excel Sheet 2018 With Formula also includes a section for entering the bonus amount. This section allows you to enter the bonus amount for each employee. This section also includes a section for entering the bonus percentage. This percentage is used to calculate the bonus amount for each employee.
The Bonus Calculation Format Excel Sheet 2018 With Formula also includes a section for entering the bonus amount for each employee. This section allows you to enter the bonus amount for each employee. This section also includes a section for entering the bonus percentage. This percentage is used to calculate the bonus amount for each employee.
The Bonus Calculation Format Excel Sheet 2018 With Formula also includes a section for entering the bonus amount for each employee. This section allows you to enter the bonus amount for each employee. This section also includes a section for entering the bonus percentage. This percentage is used to calculate the bonus amount for each employee.
The Bonus Calculation Format Excel Sheet 2018 With Formula is a great tool for calculating bonuses for employees. It is easy to use and understand and includes a detailed explanation of the formula and how it works. It also includes a sample calculation to help you understand the formula better. The sheet also includes a section for entering the employee’s salary and performance information. This information is used to calculate the bonus amount.
