Hi this is paul,i worked in producton company as team leader from dec-2009 and resigned there in april 2012 . Am i eligable for the bonus of 2011-2012 . Please help. Thank u paul
From India, Nagpur
From India, Nagpur
Dear Paul
You are eligible to get the Bonus from your previous company for the FY 201-12 i.e., for the period from 01 Apr 2011 to 31 Mar 2012. Please approach your office before 30 Nov 2012 and get the same.
From India, Kumbakonam
1168You are eligible to get the Bonus from your previous company for the FY 201-12 i.e., for the period from 01 Apr 2011 to 31 Mar 2012. Please approach your office before 30 Nov 2012 and get the same.
From India, Kumbakonam
Dear Mr Paul,
You have not mentioned your salary. please note if your salary is within the permissiable limit you are eligiable for bonus.
Please note, as per provision of bonus act if you are getting less than or Rs-10,000 (Basic) as a salary and if you had worked 30 days in a account year you will be entitled for bonus and bonus will be calculated on less then or Rs-3500/- PM (sec 12) @ rate of minimum 8.33% (sec.10)and maximum 20%(sec.11).the % depends on the allocable surplus of the company but one employer will have to pay 8.33% as a mandatory even if he is not earning profit.
With Regards
Sandip Saha
From India, Kolkata
You have not mentioned your salary. please note if your salary is within the permissiable limit you are eligiable for bonus.
Please note, as per provision of bonus act if you are getting less than or Rs-10,000 (Basic) as a salary and if you had worked 30 days in a account year you will be entitled for bonus and bonus will be calculated on less then or Rs-3500/- PM (sec 12) @ rate of minimum 8.33% (sec.10)and maximum 20%(sec.11).the % depends on the allocable surplus of the company but one employer will have to pay 8.33% as a mandatory even if he is not earning profit.
With Regards
Sandip Saha
From India, Kolkata
Dear paul, yes u r eligible for the bonus for the periods 2011-2012 with warm regards rao vikas
From India, Delhi
From India, Delhi
Dear Paul
If your getting upto monthly salary of Rs. 10000/- (Basic) and if your have rendered 30 working days service in last financial year 2011-12, then you will be eligible for the yearly bonus to the tune of minimum of 8.33% of your salary subject to statutory provisions of the Bonus Act.
Thanks
REgards
R B Yadav
Advocate
From India, Mumbai
If your getting upto monthly salary of Rs. 10000/- (Basic) and if your have rendered 30 working days service in last financial year 2011-12, then you will be eligible for the yearly bonus to the tune of minimum of 8.33% of your salary subject to statutory provisions of the Bonus Act.
Thanks
REgards
R B Yadav
Advocate
From India, Mumbai
Hi Sandip,
Just would like to know two more things;
1. What if company voluntarily pays bonus @ 8.33% to all employees whether the Basic is above or below Rs. 10,000/-
2. The Bonus is paid on ACTUAL basic earned (i.e. if basic is 5000/- then on 5000/- or if basic is 12000/- then on 12000/-)
Are we violating the law? or paying bonus to employees with basic below or above 10000/- on actual basic earned is voluntary till we are not violating the law i.e. bonus @ 8.33% on below or Rs. 3,500/- ?
Your response will be appreciated.
From India, Ahmedabad
Just would like to know two more things;
1. What if company voluntarily pays bonus @ 8.33% to all employees whether the Basic is above or below Rs. 10,000/-
2. The Bonus is paid on ACTUAL basic earned (i.e. if basic is 5000/- then on 5000/- or if basic is 12000/- then on 12000/-)
Are we violating the law? or paying bonus to employees with basic below or above 10000/- on actual basic earned is voluntary till we are not violating the law i.e. bonus @ 8.33% on below or Rs. 3,500/- ?
Your response will be appreciated.
From India, Ahmedabad
Dear Hiral
It is not at all an issue of violation of any law. The minimum bonus you must pay is Rs. 3499/- i.e., 8.33% Bonus if an employee employed for the full year. The maximum is Rs.8400/- i.e., 20% Bonus
The act says that you need not to pay more than that. But if you pay above the level, it is not a violation. Even if you pay bonus to the employee who is drawing salary of more than Rs.10000/- also be considered as ex-gratia.
If a person serves only for 6 months then he will be eligible for minimum bonus @ 8.33% is Rs.1750 and maximum bonus @ 20% is Rs.4200/-. If you pay below the level then only it will be considered as violation of law.
Hope you understood
From India, Kumbakonam
It is not at all an issue of violation of any law. The minimum bonus you must pay is Rs. 3499/- i.e., 8.33% Bonus if an employee employed for the full year. The maximum is Rs.8400/- i.e., 20% Bonus
The act says that you need not to pay more than that. But if you pay above the level, it is not a violation. Even if you pay bonus to the employee who is drawing salary of more than Rs.10000/- also be considered as ex-gratia.
If a person serves only for 6 months then he will be eligible for minimum bonus @ 8.33% is Rs.1750 and maximum bonus @ 20% is Rs.4200/-. If you pay below the level then only it will be considered as violation of law.
Hope you understood
From India, Kumbakonam
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