DEar sir,
we have foll staff ,
ours is an trading organisation , only problem facing is bonus for diwali
salary scales are
some with 14000 monthy
9000 monthly
50000 monthly
guide how break up for these so that we have to pay minimum bonus
** also according to norms how much we have to pay bonus of each
thanks & regards
Amit
From India, Thana
we have foll staff ,
ours is an trading organisation , only problem facing is bonus for diwali
salary scales are
some with 14000 monthy
9000 monthly
50000 monthly
guide how break up for these so that we have to pay minimum bonus
** also according to norms how much we have to pay bonus of each
thanks & regards
Amit
From India, Thana
what are the various non taxable components opted by large IT companies apart from vehicle/petrol allowance and SODEXO COupons
From India, Pune
From India, Pune
Dear Amit
U can include Bonus (8.33%) of basic in your ctc while recruiting.this is the ommon method used by most of the organizations.
If u will go to bonus act,1965
The bonus percentage will be calculated through set -on & set off method.
Pls go through the payment of the bonus act for detail.
Thanks
From India, Pune
4U can include Bonus (8.33%) of basic in your ctc while recruiting.this is the ommon method used by most of the organizations.
If u will go to bonus act,1965
The bonus percentage will be calculated through set -on & set off method.
Pls go through the payment of the bonus act for detail.
Thanks
From India, Pune
minimum bonus is 8.33% of annual salary. which comes to one month salary. to pay bonus in diwali in NOV-2010, you can calculate bonus from April-2009 to March-2010. if a person joined in october of 2009 then you have to pay bonus from october-2009 to march-2010 @8.33% of total of 6 months.
From India, Mumbai
From India, Mumbai
Dear all seniors,
i m working in small packaging company, i have to set up all HR- Department. in organisation grade & level & compensation policy are not preapared. as per designation the salary not decided properly And it is very difficult for me to prepared. plz help me.
Thanks & Regrads
sanchita
9096399951
From India, Mumbai
i m working in small packaging company, i have to set up all HR- Department. in organisation grade & level & compensation policy are not preapared. as per designation the salary not decided properly And it is very difficult for me to prepared. plz help me.
Thanks & Regrads
sanchita
9096399951
From India, Mumbai
Dear Amit
it is not clear whether you ara talking of bonus under the Payment of Bonus Act 1965. It appears youare talking of bonus that is being paid on the occassion of Diwali which is like a customary bonus. There are two ways of lookinag at the problem.
1) if there is an agreement with the employees on the apyment of Diwali bonus, that agreement must have stipulated the items of salary which shall be taken into account for computing bonus. In that event you can follow the terms of agreement.
2) Secondly, in the absence of such an agreement, the custom can be relied. Find out what are the items of salry that are being considered for computing bonus since it's inception. Yiou can follow them.
However so far bonus under the Bonus Act is concerned, normally the following items of salary are included.
1) basic pay
2)dearness allowance
3) Free food allowance or the value of free food suplied.
The following items of payments are normally excluded.
1) Any allowance which is for the time being paid(temporarily paid)
2)value of any housing accomodation, or any amenity as light etc, supplied.
3) Travelling concession
4) contributions to P.F and pension
5) retrench ment compensation
6) any bonus like incentive bonus etc.
7) any commission
8) any O.T wages
B.Sai Kumar
consultant in Hr and Labour Laws
From India, Mumbai
it is not clear whether you ara talking of bonus under the Payment of Bonus Act 1965. It appears youare talking of bonus that is being paid on the occassion of Diwali which is like a customary bonus. There are two ways of lookinag at the problem.
1) if there is an agreement with the employees on the apyment of Diwali bonus, that agreement must have stipulated the items of salary which shall be taken into account for computing bonus. In that event you can follow the terms of agreement.
2) Secondly, in the absence of such an agreement, the custom can be relied. Find out what are the items of salry that are being considered for computing bonus since it's inception. Yiou can follow them.
However so far bonus under the Bonus Act is concerned, normally the following items of salary are included.
1) basic pay
2)dearness allowance
3) Free food allowance or the value of free food suplied.
The following items of payments are normally excluded.
1) Any allowance which is for the time being paid(temporarily paid)
2)value of any housing accomodation, or any amenity as light etc, supplied.
3) Travelling concession
4) contributions to P.F and pension
5) retrench ment compensation
6) any bonus like incentive bonus etc.
7) any commission
8) any O.T wages
B.Sai Kumar
consultant in Hr and Labour Laws
From India, Mumbai
Dear Amit,
1.As diwali bonus is the customary bonus it can be adjusted in the statutory bonus i.e. Minimum 8.33%.
2. Eligiblity for bonus is:
Basic Upto 10000
Min. 30 days working in a year.
For calculation 3500 is considered as Basic Amount.
Regards
Nidhi
HR Trainer
Appin Technology Lab
From India, Lucknow
1.As diwali bonus is the customary bonus it can be adjusted in the statutory bonus i.e. Minimum 8.33%.
2. Eligiblity for bonus is:
Basic Upto 10000
Min. 30 days working in a year.
For calculation 3500 is considered as Basic Amount.
Regards
Nidhi
HR Trainer
Appin Technology Lab
From India, Lucknow
it works out to 291(8.33%) in a month approx based on maximum of 3500 Rs(based on bonus act) It IE dIWALI bonus may be made applicable to certain category of employees ie below certain basic only.
From India, Delhi
From India, Delhi
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