FOR PAYMENT OF BONUS, IS THERE A OPTION TO PAY ON 3500x12.
"Section 12 : Calculation of bonus with respect to certain employees :- Where the salary or wage of employee exceeds 2[ two thousand and five hundred rupees] per mensem, the bonus payable to such employee u/s 10 or, as the case may be, u/s 11, shall be calculated as if his salary or wage were 2[ two thousand and five hundred] per mensem ].
From India, Pathanamthitta
"Section 12 : Calculation of bonus with respect to certain employees :- Where the salary or wage of employee exceeds 2[ two thousand and five hundred rupees] per mensem, the bonus payable to such employee u/s 10 or, as the case may be, u/s 11, shall be calculated as if his salary or wage were 2[ two thousand and five hundred] per mensem ].
From India, Pathanamthitta
363Dear Member,
After the amendment of 2007 we are to read section 12 of the Payment of Bonus Act, 1965 as under.
12. Calculation of bonus with respect to certain employees.—Where the salary or wage of an employee exceeds three thousand and five hundred rupees per mensem, the bonus payable to such employee under section 10 or, as the case may be, under section 11, shall be calculated as if his salary or wage were three thousand and five hundred rupees] per mensem.
R.N.KHOLA
(Labour Law Consultants)
(Labour Law Consultants)
From India, Delhi
Dear Member,
After the amendment of 2007 we are to read section 12 of the Payment of Bonus Act, 1965 as under.
12. Calculation of bonus with respect to certain employees.—Where the salary or wage of an employee exceeds three thousand and five hundred rupees per mensem, the bonus payable to such employee under section 10 or, as the case may be, under section 11, shall be calculated as if his salary or wage were three thousand and five hundred rupees per mensem.
R.N.KHOLA
(Labour Law Consultants)
(Labour Law Consultants)
From India, Delhi
Dear mr Khola,
I have come to know that bonus ceiling of Rs.3500/- is also
being changed and a bill has already been prepared and submitted. Can you throw some light on this?
Thanking you
regards
R K Nair
From India, Aizawl
I have come to know that bonus ceiling of Rs.3500/- is also
being changed and a bill has already been prepared and submitted. Can you throw some light on this?
Thanking you
regards
R K Nair
From India, Aizawl
Mr. Nair you are right!!! kindly find approved bill about amendment in Payment of Bonus Act. Confusion is only that by which accounting year the amendment will come in force?? Kalpesh
From India, Mumbai
From India, Mumbai
The said amendment in Paymaent of Bonus Act is in form of a bill only as it has not been passed by the parliament so there is no question of its coming into force as of now. regards, Kamal
From India, Pune
From India, Pune
Hi, Can any one provide me the details in "the payment of Bonus act 1965" that the employee resigned during the financial period are eligable for the bonus . As per the Act. with regards, vivek
From India, Barddhaman
From India, Barddhaman
Bonus being a deferred wage, it should be paid to all eligible employees who have left service during the financial year. Eligible employee means those whose salary did not exceed Rs 10000 and who had worked at least for 30 days in the financial year.
The amendment has not been passed in the Parliament and once it is passed the same will be incorporated by way of an amendment to the Act and then only it will become applicable.
Regards,
Madhu.T.K
From India, Kannur
The amendment has not been passed in the Parliament and once it is passed the same will be incorporated by way of an amendment to the Act and then only it will become applicable.
Regards,
Madhu.T.K
From India, Kannur
As per Payment of Bonus Act, if any employee worked for 30 days in the preceeding 12 months period, then he shall be eligible for Bonus. Thanks. regards R K Nair
From India, Aizawl
From India, Aizawl
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Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc