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
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
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