CENTRAL EMPLOYEES GOVERNMENT ANNOUNCED BONUSES HOW ARE BONUSES CALCULATED ?
Military and paramilitary personnel are also eligible for the bonus. New Delhi: Central government employees across the country were overjoyed when the central government announced a bonus for its employees.
The government has approved a proposal to give ad hoc bonuses to its employees for the year 2020-21. The bonus will be given to Central Paramilitary and Armed Forces personnel as announced by the Expenditure Department under the Ministry of Finance. All employees who will be in the job on March 31, 2021 and have worked for six consecutive months during the year 2020-21 will be eligible to receive this bonus. The Non-Productivity Link (Ad-Hawk) bonus will be given only to Group C employees of the Central Government and to non-Gazetted employees belonging to Group B. The calculated limit for payment of this bonus is Rs. A salary of Rs 7000 has been kept. The amount of bonus will be decided on the basis of whichever is less than the average salary or calculation limit, said a press release issued by the Expenditure Department.
To calculate the one day bonus, divide the average annual salary by 30.4, so that one day’s salary is deducted, then multiply this amount by the number of days that have been sanctioned to know the exact amount of bonus due to the employee.
The calculation limit for payment of this bonus is fixed at Rs. 7000 per month. Discussions Divide the annual average salary by 30.4 to calculate one day’s bonus, so that one day’s salary is deducted, then multiply this amount by the number of days allowed to determine the bonus due to the employee. The amount can be known. For example, in case the monthly salary calculation limit is Rs. 7000
The central government on Tuesday approved a non-productive link, or ad-hoc bonus, for the fiscal year 2020-21. This bonus will be given to central employees on the occasion of festivals. “Employees of the Central paramilitary forces and the armed forces will also be eligible for the bonus,” a circular for the Expenditure Department under the Union Finance Ministry said.
Under this bonus employees will be paid 30 days salary. Employees who were employed until March 31, 2021 and have at least six months of continuous service during the fiscal year 2020-21, will be eligible for an ad hoc bonus or ad hoc bonus. The non-productive linked bonus will be available to employees in Group C and all non-gazetted employees in Group B, who do not fall under any productive linked bonus scheme. The calculated limit for payment of this bonus will be a monthly salary of Rs. 7,000.
How is the bonus calculated? The rule for ad-hoc bonus has been made by the Ministry of Finance. Ad-hoc bonuses of employees are calculated according to the same rule. Bonuses are added based on the average salary of the employees, according to the calculated limit, whatever. The Expenditure Department of the Ministry of Finance has explained how the bonus is calculated. As a rule, the average wage for the year is divided by 30.4 to calculate the ad-hoc bonus for one day. Here 30.4 is the average number of days in a month. This amount is then multiplied by the number of days the bonus has been granted
The memorandum of the Ministry of Finance states that the monthly remuneration limit has been fixed at Rs 7,000. Accordingly, the non-producer linked bonus or ad-hoc bonus is approximately Rs. 6,908 will be equivalent to 30 days remuneration. The memorandum states that employees who have resigned, retired from service or ended before March 31, the bonus will be paid only to those employees who have retired or who are on medical grounds. But during this period, six months of regular service a year is required. Casual Labor Rules A rule has also been made for casual labor. Casual workers who have worked in the office for 3 years or more and work at least 240 days per year under 6 days a week ||| Also non-manufacturer will be entitled to linked bonus.
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