the minimum bonus is 8.33% maximum is 20% as per bonus act but my employer want to distribute 15% bonus On which conditions we can make it applicable . Regards Minakshi
From India, Delhi
5From India, Delhi
Dear Minakshi,
It is entirely at the employer's discretion what the percentage of the bonus should be. Bonuses can fluctuate from a minimum of 8.33% to a maximum of 20%. Therefore, the employer can disburse it ranging from 8.33% to 20%.
Regards,
Arpit Jain
From India, Delhi
It is entirely at the employer's discretion what the percentage of the bonus should be. Bonuses can fluctuate from a minimum of 8.33% to a maximum of 20%. Therefore, the employer can disburse it ranging from 8.33% to 20%.
Regards,
Arpit Jain
From India, Delhi
Thanks To Arpit & Suresh for reply. 1) But how percentage of bonus is connected to profit. 2) If the company is under loss,Is company still bound to pay bonus. Regards Minakshi
From India, Delhi
From India, Delhi
sir ... I have a doubt regarding bonus ... whether the Gross salary will be taken for bonus (or) Basic+da ?
From India, Coimbatore
From India, Coimbatore
Bonus is 8.33 % of the salary i.e. basic salary of the employee. This is known as statutory bonus. Some companies put the same while drafting CTC also. Chill HR
From India, Gurgaon
From India, Gurgaon
Dear Minakshi,
I am giving a bonus to 500 employees (including workers) of 8.33% on their earned salary (based on their attendance - without any deductions). The bonus will be disbursed one week before Diwali.
Regards,
Mohan Nair
From India, Mumbai
I am giving a bonus to 500 employees (including workers) of 8.33% on their earned salary (based on their attendance - without any deductions). The bonus will be disbursed one week before Diwali.
Regards,
Mohan Nair
From India, Mumbai
Dear Meenakshi,
If the company is in loss, then as per the bonus act, there is a facility of set off and set on. The minimum bonus payable for this year can be carried forward to the next year (maximum up to three years).
From India, Pune
If the company is in loss, then as per the bonus act, there is a facility of set off and set on. The minimum bonus payable for this year can be carried forward to the next year (maximum up to three years).
From India, Pune
Dear Madam,
Even if your company is in loss, the bonus will be decided by the management depending on the union demands, if any. After negotiation with trade unions, they will fix the bonus percentage. 8.33% is to be paid as a bonus. The excess amount, if any, will be treated as ex-gratia. The bonus is calculated based on Basic+DA.
Regards,
S. GANAPATHY
From India, Coimbatore
Even if your company is in loss, the bonus will be decided by the management depending on the union demands, if any. After negotiation with trade unions, they will fix the bonus percentage. 8.33% is to be paid as a bonus. The excess amount, if any, will be treated as ex-gratia. The bonus is calculated based on Basic+DA.
Regards,
S. GANAPATHY
From India, Coimbatore
You can distribute the bonus among employees as per the company's profitability. We can distribute the bonus between 8.33% to 20%. In this range, we can adjust according to our company's profitability. As per the act, the bonus is payable on basic + DA. Normally, the bonus is payable after the final accounts have been prepared. Bonuses are usually not given at the time of Diwali.
Kind Regards,
Bhargavi Solanki - HR
If you have any queries or suggestions, please do revert back.
From India, Ahmadabad
Kind Regards,
Bhargavi Solanki - HR
If you have any queries or suggestions, please do revert back.
From India, Ahmadabad
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