If anyone has Govt. circular on Bonus amandment for Minimum percentage (11%), Salary limit and Minimum Amount, pls do share me. Thank you!
From India, Ahmadabad
73From India, Ahmadabad
Dear Bhardwaj,
For bonus:
Minimum percentage: 8.33% of basic (Basic+DA if DA is paid to employee)
An employee whose basic salary is upto Rs. 10000 is eligible for bonus.
For any further clarification feel free to write or discuss.
From India, Mumbai
For bonus:
Minimum percentage: 8.33% of basic (Basic+DA if DA is paid to employee)
An employee whose basic salary is upto Rs. 10000 is eligible for bonus.
For any further clarification feel free to write or discuss.
From India, Mumbai
I have put this discussion because, I show a PDF of same Bill of yr.2010 so If the amendment(s) has made, and have pdf, do share.
From India, Ahmadabad
From India, Ahmadabad
Dear Bharadwaj,
For more information you can refer the following link -
https://www.citehr.com/51955-amendme...ct-1965-a.html
From India, Visakhapatnam
For more information you can refer the following link -
https://www.citehr.com/51955-amendme...ct-1965-a.html
From India, Visakhapatnam
The site you have shared is about amandments in your 2007 e.g.3500/- and basic +d a to 10,000/-p.m.. are I am very much aware of.
Please read my querry and then suggest.
I am asking for further amandments and their ciruclar/ gazzatte copy.
From India, Ahmadabad
Please read my querry and then suggest.
I am asking for further amandments and their ciruclar/ gazzatte copy.
From India, Ahmadabad
Dear All
Does the amendment of 2007 mean that employees getting salary+DA below Rs. 10,000/- are not eligible for bonus ?
Also kindly explain the meaning of :
""
ii) Amendment to section 12: To raise the ceiling for calculation purpose from the salary or wage of Rs.2500/- to Rs.3500/- per month, and;
""
Thanks very much in advance.
From India, Coimbatore
Does the amendment of 2007 mean that employees getting salary+DA below Rs. 10,000/- are not eligible for bonus ?
Also kindly explain the meaning of :
""
ii) Amendment to section 12: To raise the ceiling for calculation purpose from the salary or wage of Rs.2500/- to Rs.3500/- per month, and;
""
Thanks very much in advance.
From India, Coimbatore
Amendment to the Payment of Bonus Act, 1965
The Cabinet in its meeting held on October 1, 2007 has approved the Amendments to the payment of Bonus Act, 1965, which are as follows:-
i) Amendment to Section 2(13): To raise the eligibility limit for payment of bonus from the salary or wage of Rs.3500/- to Rs.10,000 per month.
That means Section 2 clause (!3) of the bonus Act, which prescribes the limit of wage or salary has undergone the required changes.
Before, who ever used to get upto Rs. 3500 pm wage or salary were eligible for bonus, now it is increased to Rs. 10000/- pm from Rs. 3500/- (maximum limit is Rs. 10000/- pm and minimum shall be paid on rs. 3500/-, what ever the salary or wage may be
ii) Amendment to section 12: To raise the ceiling for calculation purpose from the salary or wage of Rs.2500/- to Rs.3500/- per month, and;
This means, what ever the less amount you get the minimum of Rs. 3500/- pm will be taken in to consideration to pay the bonus.
In the sense your Bonus will be calculated on minimum of Rs. 3500/- basic pay..... (here your bonus will be on your salary what you get say is Rs. 2000/-pm, you are supposed to get Rs. 20 as bonus and since bonus shall be calculated on 3500/-,(minimum) extra Bonus on 1500/- will be paid. that is Rs. 15, so your bonus will be rs. 35 minimum, calculated on Rs. 3500/-pm)
iii) Deletion of section 32(vi): To cover the employees employed through contractors on building operations .
This means Section 32 clause (vi) no more exists in The Bonus Act.
From India, Bangalore
The Cabinet in its meeting held on October 1, 2007 has approved the Amendments to the payment of Bonus Act, 1965, which are as follows:-
i) Amendment to Section 2(13): To raise the eligibility limit for payment of bonus from the salary or wage of Rs.3500/- to Rs.10,000 per month.
That means Section 2 clause (!3) of the bonus Act, which prescribes the limit of wage or salary has undergone the required changes.
Before, who ever used to get upto Rs. 3500 pm wage or salary were eligible for bonus, now it is increased to Rs. 10000/- pm from Rs. 3500/- (maximum limit is Rs. 10000/- pm and minimum shall be paid on rs. 3500/-, what ever the salary or wage may be
ii) Amendment to section 12: To raise the ceiling for calculation purpose from the salary or wage of Rs.2500/- to Rs.3500/- per month, and;
This means, what ever the less amount you get the minimum of Rs. 3500/- pm will be taken in to consideration to pay the bonus.
In the sense your Bonus will be calculated on minimum of Rs. 3500/- basic pay..... (here your bonus will be on your salary what you get say is Rs. 2000/-pm, you are supposed to get Rs. 20 as bonus and since bonus shall be calculated on 3500/-,(minimum) extra Bonus on 1500/- will be paid. that is Rs. 15, so your bonus will be rs. 35 minimum, calculated on Rs. 3500/-pm)
iii) Deletion of section 32(vi): To cover the employees employed through contractors on building operations .
This means Section 32 clause (vi) no more exists in The Bonus Act.
From India, Bangalore
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.