Dear Sir, can you tell me how much sealing of the bonus and what is minimum limit for the employer which are payable to employee in a one year working period.
From India, Gurgaon
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8From India, Gurgaon
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Dear Raju as per Bonus Act- Employee earning up to 10k pm are entitled for bonus. Calculation to be made on salary 3500/- per month. minimum limit-8.33% maximum limit-20%
From India, Delhi
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From India, Delhi
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1. The Act enables employees to receive a minimum bonus equivalent to one month's salary or wages (8.33% of annual earnings) regardless of whether the employer generates any profit. However, the Act also imposes a cap on the bonus, with the maximum amount payable being approximately 2 1/2 months' salary or wages (20% of annual earnings).
2. It should be noted that employees earning a salary or wage exceeding Rs. 10,000.00 per month are not eligible for any bonus under the Act (effective from 1 April 2006).
3. An employee becomes eligible for the bonus only after working for 30 days in that particular year. {Section 8}
From India, Chennai
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2. It should be noted that employees earning a salary or wage exceeding Rs. 10,000.00 per month are not eligible for any bonus under the Act (effective from 1 April 2006).
3. An employee becomes eligible for the bonus only after working for 30 days in that particular year. {Section 8}
From India, Chennai
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