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Wage limit for the bonus is 3500/-, as rightly said. However, please note: in case an employee is receiving a salary or wages between Rs. 2500/- and Rs. 3500/-, the bonus payable to him is to be calculated as if his salary or wages were Rs. 2500 per month only (Sec 12 of the Bonus Act).
Regards,
Sudien
From India, Mumbai
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Regards,
Sudien
From India, Mumbai
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dear HR’S iam Sreenivas Working as Asst HR, Bonus Act Amended in 2007 Sree
From India, New Delhi
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From India, New Delhi
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Dear All, can you please let me know, what is the minimum limit of wages for Bonus and what is the % which a company has to pay the the employees. Jagdish Pathak # 9811488664
From India, Gurgaon
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From India, Gurgaon
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Dear all,
The wage limit of the bonus has been revised. Now, if an employee's basic salary + DA is less than 10,000 per month, they are entitled to a bonus. However, the calculation will be based on 3,500. This means that employees with a basic salary + DA between 3,500 and 10,000 will receive the same bonus.
Regards,
J.S. Malik
From India, Delhi
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The wage limit of the bonus has been revised. Now, if an employee's basic salary + DA is less than 10,000 per month, they are entitled to a bonus. However, the calculation will be based on 3,500. This means that employees with a basic salary + DA between 3,500 and 10,000 will receive the same bonus.
Regards,
J.S. Malik
From India, Delhi
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Dear Mr. Malik,
Thank you very much for your valuable response, but here is a small query. If an employee is getting INR 6000 (Basic+DA), in that case, will the bonus be calculated at 8.33% on 6000 or should we pay a fixed amount of 3500?
Please help.
Regards,
Jagdish Pathak
From India, Gurgaon
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Thank you very much for your valuable response, but here is a small query. If an employee is getting INR 6000 (Basic+DA), in that case, will the bonus be calculated at 8.33% on 6000 or should we pay a fixed amount of 3500?
Please help.
Regards,
Jagdish Pathak
From India, Gurgaon
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BONUS CALCULATION BY WAGE.xls
ESIC Wage Limit Increased.JPG