What is the latest ceiling of Bonus? I am told the present/latest ceiling of Bonus is currently Rs. 7500/-. Is it correct? Also, kindly provide me with the latest amendments in the law regarding the payment of Bonus.
JOY KUMAR DE
From India, Calcutta
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4JOY KUMAR DE
From India, Calcutta
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Dear friend,
Well and wish you the same. The Bonus Act remains the same now; there have been no modifications. The act states:
1. "EVERY EMPLOYEE WHOSE SALARY OR WAGE DOES NOT EXCEED RS.3,500.00 PER MONTH IS ELIGIBLE FOR BONUS, PROVIDED HE HAS WORKED IN THAT ESTABLISHMENT FOR NOT LESS THAN 30 WORKING DAYS IN THAT ACCOUNTING YEAR.
2. CEILING AMOUNT RS. 2,500.00.
3. BONUS SHOULD BE PAID WITHIN A PERIOD OF 8 MONTHS FROM THE CLOSURE OF THE ACCOUNTING YEAR."
Some trade unions are advocating for an increase in the ceiling of the bonus, but it has not been amended yet.
Regards,
malladi_alps 😂 😂 😂
From India, Madras
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Well and wish you the same. The Bonus Act remains the same now; there have been no modifications. The act states:
1. "EVERY EMPLOYEE WHOSE SALARY OR WAGE DOES NOT EXCEED RS.3,500.00 PER MONTH IS ELIGIBLE FOR BONUS, PROVIDED HE HAS WORKED IN THAT ESTABLISHMENT FOR NOT LESS THAN 30 WORKING DAYS IN THAT ACCOUNTING YEAR.
2. CEILING AMOUNT RS. 2,500.00.
3. BONUS SHOULD BE PAID WITHIN A PERIOD OF 8 MONTHS FROM THE CLOSURE OF THE ACCOUNTING YEAR."
Some trade unions are advocating for an increase in the ceiling of the bonus, but it has not been amended yet.
Regards,
malladi_alps 😂 😂 😂
From India, Madras
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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