Hi,
Can we pay statutory bonus on monthly basis @ 8.33% of Basic + DA subject to limit of Rs. 3,500/- PA.
and whether ESIC is applicable on the statutory bonus if paid on monthly basis.
Regards,
Sunil Kumar
From India, Bangalore
Can we pay statutory bonus on monthly basis @ 8.33% of Basic + DA subject to limit of Rs. 3,500/- PA.
and whether ESIC is applicable on the statutory bonus if paid on monthly basis.
Regards,
Sunil Kumar
From India, Bangalore
If you pay bonus monthly (though it can not become statutory bonus since bonus as per Payment of Bonus Act is to be paid within eight months of close of financial year) it will attract ESI because any payment made to employees in an interval of not more than two months shall be treated as part of salary for the purpose of ESI.
Madhu.T.K
From India, Kannur
4249Madhu.T.K
From India, Kannur
Paying Statutory Bonus on monthly basis, falls in earnings and meets to gross <=15000/-p.m. so ESIC applicable.
I have seen in contract security guard's salary slip and the at the time of diwali (Financial year eight months) to pay bonus, they dont get this statutory bonus, while the statutory bonus shall be paid
even after paid in monthly basis.
From India, Ahmadabad
I have seen in contract security guard's salary slip and the at the time of diwali (Financial year eight months) to pay bonus, they dont get this statutory bonus, while the statutory bonus shall be paid
even after paid in monthly basis.
From India, Ahmadabad
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Amendment to Payment of Bonus Act 2015.jpg
Statutory Compliance of a Industrial or Commercial Unit.xls
Bonus act amendment gazette copy.pdf