My query regarding Payment of Bonus. As per the new amendment, the ceiling for Bonus payment has been increased up to Rs. 21,000. My query is, are there any restrictions if an employer wants to pay Bonus to employees receiving more than the new ceiling as per the act? Or is there any other way to pay a bonus to those who are earning more? Please clarify... thanks.
From India, Ahmedabad
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From India, Ahmedabad
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Since it is a welfare measure for the employees, no authority has any restrictions if an employer pays a bonus to his employee whose MW is more than 21,000. The government is only concerned that eligible workers should not be deprived of the provision.
Good going,
From India, Thane
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20Good going,
From India, Thane
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Dear Friend,
Computing the bonus payable by taking all the heads of salary or paying a bonus at a rate higher than the maximum rate is at the discretion of the management. The only shortcoming is that the management cannot claim tax concession on the excess amount so paid.
From India, Salem
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Computing the bonus payable by taking all the heads of salary or paying a bonus at a rate higher than the maximum rate is at the discretion of the management. The only shortcoming is that the management cannot claim tax concession on the excess amount so paid.
From India, Salem
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