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Hello Friends,
I'm confused in 3500/- amount & 10000 amount. Say if person has worked for 4 months in one a/c year. Of which he has worked for 3 months for whole month while in 4th month he had attended the office for only 4 days while salary of 10 days has been given after leave available adjustments. Then what would be his bonus amount ? calculation part ? that would be - 8.33% of 3500 or 8.33% of his wages say 8000/-.?
Thanks & Regards
Karuna Sharma
From India, New Delhi
I'm confused in 3500/- amount & 10000 amount. Say if person has worked for 4 months in one a/c year. Of which he has worked for 3 months for whole month while in 4th month he had attended the office for only 4 days while salary of 10 days has been given after leave available adjustments. Then what would be his bonus amount ? calculation part ? that would be - 8.33% of 3500 or 8.33% of his wages say 8000/-.?
Thanks & Regards
Karuna Sharma
From India, New Delhi
Dear Member,
When your basic salary is more than Rs 10,000/- per month then in that case you are not eligible to receive payment of bonus from the employer under Payment of Bonus Act, 1965.
R.N.KHOLA
Welcome Skylark Associates
From India, Delhi
When your basic salary is more than Rs 10,000/- per month then in that case you are not eligible to receive payment of bonus from the employer under Payment of Bonus Act, 1965.
R.N.KHOLA
Welcome Skylark Associates
From India, Delhi
Dear All,
I have few queries regarding the payment of bonus act
1.payment of bonus - is to calculate from basic or gross salary??
2. salary or wages has been revised to Rs. 10,000 with effect from November,
2007. is there any changes on the wages pls confirm?
Awaiting for your positive reply
Regards
Gayathr
From India, Chennai
I have few queries regarding the payment of bonus act
1.payment of bonus - is to calculate from basic or gross salary??
2. salary or wages has been revised to Rs. 10,000 with effect from November,
2007. is there any changes on the wages pls confirm?
Awaiting for your positive reply
Regards
Gayathr
From India, Chennai
As per CA Hitesh Juneja, "The Payment of Bonus (Amendment) Act, 2015 received the assent of the President on 31st December 2015". The act has been amended recently and there has been an increase in the eligibility limit for coverage of employee, as well as limit for calculation of bonus.
Source: <link no longer exists - removed>
From India, New Delhi
Source: <link no longer exists - removed>
From India, New Delhi
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Amendment to Payment of Bonus Act 2015.jpg
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc