Sir,
I am a IT Incharge and working in Haryana. My question is i had worked in a Pvt. Firm in bahadurgarh (haryana) as on casual basis not on company role. Now the bonus has paid to me on my basic salary. I was not on Company role and the other benefit's like pf, esi, leaves has not been given while working there. now while i resigned there at the time of full & final payment they had given bonus on basic salary at @3000/- so i want to know its correct or not or i have to get payment of my full gross solary. can i go for labour court to take bonus payment on my full salary becuse i was not on company role in that firm. so plz suggest what to do....
my salary was there @ Rs.6500/- per month only. on casual period
From India, Gurgaon
I am a IT Incharge and working in Haryana. My question is i had worked in a Pvt. Firm in bahadurgarh (haryana) as on casual basis not on company role. Now the bonus has paid to me on my basic salary. I was not on Company role and the other benefit's like pf, esi, leaves has not been given while working there. now while i resigned there at the time of full & final payment they had given bonus on basic salary at @3000/- so i want to know its correct or not or i have to get payment of my full gross solary. can i go for labour court to take bonus payment on my full salary becuse i was not on company role in that firm. so plz suggest what to do....
my salary was there @ Rs.6500/- per month only. on casual period
From India, Gurgaon
Hi,
Currently the eligibility for the Act is Rs 10000/ month( Basic + DA).
The payability for the act is Rs 3500.
As per my understanding Employees whose salary exceed Rs 3500 but less than Rs 10,000 shall be taken as Rs 3500.
Min: 8.33 %
Max : 20 %
E.g An employee whose salary is Rs 6500 will also be getting bonus on 3500 only.
For employees earning Basic + DA above 10,000 they get ex-gratia and Ex-gratia is at the discretion of the company. There is no limit on it.
I would appreciate others comments on whether I am right or wrong.
Regards/Shweta
From India, Mumbai
74Currently the eligibility for the Act is Rs 10000/ month( Basic + DA).
The payability for the act is Rs 3500.
As per my understanding Employees whose salary exceed Rs 3500 but less than Rs 10,000 shall be taken as Rs 3500.
Min: 8.33 %
Max : 20 %
E.g An employee whose salary is Rs 6500 will also be getting bonus on 3500 only.
For employees earning Basic + DA above 10,000 they get ex-gratia and Ex-gratia is at the discretion of the company. There is no limit on it.
I would appreciate others comments on whether I am right or wrong.
Regards/Shweta
From India, Mumbai
Dear Shweta,
You are absolutely right, you not mention here ex-gratia amount it is Rs 8400/-,
I think that Shweta you have exellent knowlege of Hr so i want to talk with you on mobile, you can talk to me at my mobile 9891307304 for knowledge sharing.
regards
Sukhpal
From India, Bangalore
You are absolutely right, you not mention here ex-gratia amount it is Rs 8400/-,
I think that Shweta you have exellent knowlege of Hr so i want to talk with you on mobile, you can talk to me at my mobile 9891307304 for knowledge sharing.
regards
Sukhpal
From India, Bangalore
Thanks Sukhpal,
In regards to Ex-gratia, I believe that there is no limit on ex-gratia, the management can give it or may not give it to an employee.
If the management gives ex-gratia, then it can be any amount.
Ex-gratia is a PERQUISITE . That means it is not compulsory to give it.
If an employer wants to give the benefit of bonus to those employees whose Basic + DA is more than Rs 10,000 then this benefit is called Ex-gratia.
NO CEILING IS PRESENT ON EX-GRATIA.
Regards/Shweta
From India, Mumbai
In regards to Ex-gratia, I believe that there is no limit on ex-gratia, the management can give it or may not give it to an employee.
If the management gives ex-gratia, then it can be any amount.
Ex-gratia is a PERQUISITE . That means it is not compulsory to give it.
If an employer wants to give the benefit of bonus to those employees whose Basic + DA is more than Rs 10,000 then this benefit is called Ex-gratia.
NO CEILING IS PRESENT ON EX-GRATIA.
Regards/Shweta
From India, Mumbai
Hi,
After completion of 5 years continous service an employee eligibile for Bonus, whether company earns profit or not, minimum statutory bonus @8.33% needs to be paid as per Payment of Bonus Act and maximum is 20%.It is not applicable to new establishments untill they earn profits,what we call gestation period of the company.
If we want to reward the employee over and above the provisions of Bonus Act, it is considered as ex-gratia payment.It is a sweet will to the employee.There is no ceiling on ex gratia payment
Regards
Naresh
From India, Hyderabad
After completion of 5 years continous service an employee eligibile for Bonus, whether company earns profit or not, minimum statutory bonus @8.33% needs to be paid as per Payment of Bonus Act and maximum is 20%.It is not applicable to new establishments untill they earn profits,what we call gestation period of the company.
If we want to reward the employee over and above the provisions of Bonus Act, it is considered as ex-gratia payment.It is a sweet will to the employee.There is no ceiling on ex gratia payment
Regards
Naresh
From India, Hyderabad
In Sec 31(A) of bonus act their is no limit of salary and every employee can get the producivity bonus.
From India, New Delhi
From India, New Delhi
Hi Shweta, U r correct advice of Bonus in Govt. norms is 8.33% or either 3500/- below 10,000 salary & ex-gratia is 20% or more employer choice. thanks, Chander HR-Exec.
From India, New Delhi
From India, New Delhi
If the company is profit making then, in fourth fin. yr. then what is % of bonus we need to pay as a bonus? IS it 8.33% Or 20%? Do we need to file a return for the same? Kindly guide, Regards Madhura
From India
From India
Dear Madhur,
It is all depending upon the profits of the company.You have to pay minimum 8.33% and maximum up to 20%,It is the ceiling limit of the bonus.You have to file annual returns in form D to ALC/DLC which region you will be notified by as per govt rules.
this below site will help you to have a glance
THE BUILDING AND OTHER CONSTRUCTION WORKERS ACT, 1996 :: OFFICE OF THE LABOUR COMMISSIONER, GOVERNMENT OF NCT OF DELHI
Regards
DN
From India, Hyderabad
It is all depending upon the profits of the company.You have to pay minimum 8.33% and maximum up to 20%,It is the ceiling limit of the bonus.You have to file annual returns in form D to ALC/DLC which region you will be notified by as per govt rules.
this below site will help you to have a glance
THE BUILDING AND OTHER CONSTRUCTION WORKERS ACT, 1996 :: OFFICE OF THE LABOUR COMMISSIONER, GOVERNMENT OF NCT OF DELHI
Regards
DN
From India, Hyderabad
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Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
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