The individuals drawing wages (Basic+DA) upto Rs 10,000/- are only elegible for Bonus. In this case as teh Wages is more than Rs 10,000/-, bonus is not applicable.
From India, Pune
From India, Pune
I think the question on bonus was about the calculations method and not about what is allowed as per Indian system.There are countries where such limits are not imposed by government.Also I doubt big companies in India are applying such limits on bonuses.
If you give one month bonus it is 1/12 that means 8.333333 % so if the basic salary is 20,000 then the calculations are 20,000 x 12= 240,000 per annum.
Bonus 240000 x 8.33333 % =19,999 which can be rounded off to 20,000
The trick is to use all the decimals of 8.33% !!
Abhay Urankar
From India, Mumbai
If you give one month bonus it is 1/12 that means 8.333333 % so if the basic salary is 20,000 then the calculations are 20,000 x 12= 240,000 per annum.
Bonus 240000 x 8.33333 % =19,999 which can be rounded off to 20,000
The trick is to use all the decimals of 8.33% !!
Abhay Urankar
From India, Mumbai
13
ELIGIBEL employees means, if Basic was less than Rs.10, 000/during April-2009 to March-2010.
From India, Valsad
From India, Valsad
Dear All,
There seems to be a confusion regarding the amendments in the Payment of Bonus Act 1965. A lot of the members have claimed that the amendment bill has been passed and the new bonus will be 11% (bonus) +9% (ex-gratia) of Basic+DA, than the previous 8.33%+11.67%.
As per the information that i have, this bill was forwarded by Shri Oscar Fernandes, and is still pending. Once it is approved, it will be called Payment of Bonus Act, 2007.
If any one of u have a copy of the passed bill, request you to kindly share the same.
Regards,
Rahul Chhabra
From India, Delhi
There seems to be a confusion regarding the amendments in the Payment of Bonus Act 1965. A lot of the members have claimed that the amendment bill has been passed and the new bonus will be 11% (bonus) +9% (ex-gratia) of Basic+DA, than the previous 8.33%+11.67%.
As per the information that i have, this bill was forwarded by Shri Oscar Fernandes, and is still pending. Once it is approved, it will be called Payment of Bonus Act, 2007.
If any one of u have a copy of the passed bill, request you to kindly share the same.
Regards,
Rahul Chhabra
From India, Delhi
Dear Sir/ Madam,
My company provides 12 cl and 30 PL in a year.
I TOOK 12 CL AND 14 PL TILL 31.03.2010 AND WORKED IN EXTRA DAY ON 16.5 DAYS.
My basic : Rs. 9000
please suggest how much bonus i will get for 2009-2010
With regards
virender singh Gusain
From India, New Delhi
My company provides 12 cl and 30 PL in a year.
I TOOK 12 CL AND 14 PL TILL 31.03.2010 AND WORKED IN EXTRA DAY ON 16.5 DAYS.
My basic : Rs. 9000
please suggest how much bonus i will get for 2009-2010
With regards
virender singh Gusain
From India, New Delhi
Dear Virendra,
The bonus is calculated on the payable days. If the leaves u took were utilized from ur leaves in hand and were approved, then u are entitled for bonus on it. otherwise, if u took leaves and ur salary was deducted for the leave days then u are not entitled for bonus on the day.
Please search the citehr for bonus calculation.
Regards,
Rahul Chhabra
From India, Delhi
The bonus is calculated on the payable days. If the leaves u took were utilized from ur leaves in hand and were approved, then u are entitled for bonus on it. otherwise, if u took leaves and ur salary was deducted for the leave days then u are not entitled for bonus on the day.
Please search the citehr for bonus calculation.
Regards,
Rahul Chhabra
From India, Delhi
Dear Vikas Chopra,
You are very right.
You gave the most suitable reply but with accordance to amended Act which is yet to be enforced.
According to current Rule, the Maximum limit of bonus 3500/-and salary limit 10000(basic+ DA) and above 10000/-salary, its upto Company whether it pays Bonus or not.
From India, New Delhi
You are very right.
You gave the most suitable reply but with accordance to amended Act which is yet to be enforced.
According to current Rule, the Maximum limit of bonus 3500/-and salary limit 10000(basic+ DA) and above 10000/-salary, its upto Company whether it pays Bonus or not.
From India, New Delhi
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf
Bonus-amendment _206.doc