Dear Sir,
Can any one inform me what is the Bonus Criteria means Bonus limit as per Bonus Rules. I think it is 6000/- Rs. May I right? If, any other limit than please inform me.
Thanks & Regards,
Viral Gajjar
+91 2717 398496
From India, Ahmadabad
6Can any one inform me what is the Bonus Criteria means Bonus limit as per Bonus Rules. I think it is 6000/- Rs. May I right? If, any other limit than please inform me.
Thanks & Regards,
Viral Gajjar
+91 2717 398496
From India, Ahmadabad
Dear Vijay,
Statutory Bonus shall be applicable to employees drawing Basic + DA till Rs.10,000/month provided he/she had worked for minimum of 30 days in the previous financial year.
Rate of bonus shall vary between 8.33% to 20% of Basic + Da.
Note,for calculation of bonus Rs.3500 or actual Basic + DA,which ever is less to be considered.
Bonus has to be rolled out latest by 30th November.
From India, Chandigarh
Statutory Bonus shall be applicable to employees drawing Basic + DA till Rs.10,000/month provided he/she had worked for minimum of 30 days in the previous financial year.
Rate of bonus shall vary between 8.33% to 20% of Basic + Da.
Note,for calculation of bonus Rs.3500 or actual Basic + DA,which ever is less to be considered.
Bonus has to be rolled out latest by 30th November.
From India, Chandigarh
Thanks Sir,
But, 10,000 is maximum limit?
If, employee getting his Basic+Da is 11000 than he/she eligible for Bonus.
Or Can we give more than 20 %. If, we want to give one month CTC as bonus to every employee than can we give??
Regards,
Viral Gajjar
From India, Ahmadabad
But, 10,000 is maximum limit?
If, employee getting his Basic+Da is 11000 than he/she eligible for Bonus.
Or Can we give more than 20 %. If, we want to give one month CTC as bonus to every employee than can we give??
Regards,
Viral Gajjar
From India, Ahmadabad
Dear Sir,
Please confirm which are the salary component to be considered for Bonus
Computation and also confirm , to be eligible for a statutory bonus, the sum of one's basic salary and dearness allowance cannot exceed ₹21,000 per month.
We have these components in our salary breakup: Basic, DA, HRA, Special Allowance. Kindly confirm component to be considered for bonus computation.
This info needed to make provision in books of accounts for year end closing.
Regards,
Venkatesh Pai.
From India, Bengaluru
Please confirm which are the salary component to be considered for Bonus
Computation and also confirm , to be eligible for a statutory bonus, the sum of one's basic salary and dearness allowance cannot exceed ₹21,000 per month.
We have these components in our salary breakup: Basic, DA, HRA, Special Allowance. Kindly confirm component to be considered for bonus computation.
This info needed to make provision in books of accounts for year end closing.
Regards,
Venkatesh Pai.
From India, Bengaluru
This post was started in 2012.
Now the statutory salary celling for eligibility for bonus is Rs 21000 per month.
However, in respect of those employees whose salary exceeds Rs 7000, the bonus may be calculated on Rs 7000 or the statutory minimum wages as fixed by the government for the scheduled industry and the category of employment. Hence, if the salary is Rs 18000 whereas the minimum wages fixed for the particular category is Rs 12000, then bonus may be calculated on the basis of Rs 12000.
Salary which qualified for bonus is total earnings. But the practice is to include Basic salary and the dearness allowance only for this purpose. If you take only basic and DA for calculation of bonus, the same should be taken to decide whether the employee is eligible to get bonus or not. It should not be that to decide whether an employee is eligible to get bonus, you should take the total wages which may cross Rs 21000 and to calculate the bonus, take only basic pay and DA.
From India, Kannur
Now the statutory salary celling for eligibility for bonus is Rs 21000 per month.
However, in respect of those employees whose salary exceeds Rs 7000, the bonus may be calculated on Rs 7000 or the statutory minimum wages as fixed by the government for the scheduled industry and the category of employment. Hence, if the salary is Rs 18000 whereas the minimum wages fixed for the particular category is Rs 12000, then bonus may be calculated on the basis of Rs 12000.
Salary which qualified for bonus is total earnings. But the practice is to include Basic salary and the dearness allowance only for this purpose. If you take only basic and DA for calculation of bonus, the same should be taken to decide whether the employee is eligible to get bonus or not. It should not be that to decide whether an employee is eligible to get bonus, you should take the total wages which may cross Rs 21000 and to calculate the bonus, take only basic pay and DA.
From India, Kannur
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