To have the benefits of the Payment of Bonus Act as amended from 1-4-2014, one should first be covered under the definition of an employee, meaning their salary should be below Rs. 21,000 per month. Otherwise, the payment of bonus will be at the sole discretion of the management.
If eligible, the notional salary ceiling is Rs. 7,000 or the rate of minimum wages, whichever is higher, will be considered for the bonus.
From India, Kolhapur
244If eligible, the notional salary ceiling is Rs. 7,000 or the rate of minimum wages, whichever is higher, will be considered for the bonus.
From India, Kolhapur
No doubt that an amendment in the bonus has been made to pay a minimum of 7000/-, but it has been stayed by the Kerala High Court. Can anyone clarify whether the stay by the Kerala High Court or some other High Court has been vacated or is still in effect.
From India, Chandigarh
From India, Chandigarh
Hey Anand, The stay is only applicable for the petitioners and not for everyone! Further, the stay is on backdate payment and not for the date after it has been announced.
From India, Kochi
From India, Kochi
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