dear sir, can anybody tell me the clear calculation for bonus after the ceiling revision from 3500/ to 10000/-
From India, Madras
From India, Madras
517
Dear Perumal,
As per Payment of bonus act, those employees who are drawing salary upto Rs.10,000/- are eligible. Where as Bonus amount shall be claculated on Rs.3500/- salary per month(Whose salary is in excess of Rs.3500/- and upto Rs.10,000/-). Those salary below if any according to their salary bonus has to be calculated. In other words just to cover the employees for bonus act, ceiling limit has been increased up to rs.10,000/-pm from Rs.3500/- pm. Hope i have clarifide you.
Regards
Chandrshekar
Bangalore
From India, Bangalore
As per Payment of bonus act, those employees who are drawing salary upto Rs.10,000/- are eligible. Where as Bonus amount shall be claculated on Rs.3500/- salary per month(Whose salary is in excess of Rs.3500/- and upto Rs.10,000/-). Those salary below if any according to their salary bonus has to be calculated. In other words just to cover the employees for bonus act, ceiling limit has been increased up to rs.10,000/-pm from Rs.3500/- pm. Hope i have clarifide you.
Regards
Chandrshekar
Bangalore
From India, Bangalore
Dear Member,
Every employee not drawing salary/wages beyond Rs. 10,000 per month who has worked for not less than 30 days in an accounting year, shall be eligible for bonus for a minimum of 8.33% of the salary/wages even if there is loss in the establishment whereas a maximum of 20% of the employees salary is payable as bonus in the accounting year. However in case of the employees salary range is inbetween 3500 to Rs.10,000 per month for the purpose of bonus their salaries would be deemed to be rs. 3,500 per month.
From India, Mumbai
Every employee not drawing salary/wages beyond Rs. 10,000 per month who has worked for not less than 30 days in an accounting year, shall be eligible for bonus for a minimum of 8.33% of the salary/wages even if there is loss in the establishment whereas a maximum of 20% of the employees salary is payable as bonus in the accounting year. However in case of the employees salary range is inbetween 3500 to Rs.10,000 per month for the purpose of bonus their salaries would be deemed to be rs. 3,500 per month.
From India, Mumbai
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.
Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf
Bonus-amendment _206.doc