pls let me know the ceiling limit for payment of bonus at present. is it still 3500/- or enhanced to 5000/-
From India, Vijayawada
3From India, Vijayawada
No. The Bonus salary Ceiling limit is still Rs.3500/- per month. If we calculate the Bonus as per the ceiling salary then in case of 8.33% (Minimum Bonus to be paid) then Rs.3499/- and for 20% (Maximum Bonus can be paid) then Rs.8400/- only.
You can get the details by doing search option available at top of this page. Further if you are not satisfied then you can check the side bar in the right sice where you can find the relevant threads which were discussed earlier.
From India, Kumbakonam
You can get the details by doing search option available at top of this page. Further if you are not satisfied then you can check the side bar in the right sice where you can find the relevant threads which were discussed earlier.
From India, Kumbakonam
There has been no change in the ceiling for payment of Statutory Bonus. It continues to be Rs 3,500/-.
From India, Delhi
From India, Delhi
Dear Supreme_1974 & Dbalaji3,
Statutory Bonus is mainly concerned for workmen category, who comes under Contract Labour Act / minimum wages Act. You please dont compare your salary for Bonus. Salary of the minimum wages workmen is comparatively low and Rs. 3,500/- is good amount for them. Earlier, Bonus applicable to the employees whose basic was Rs. 3,500/-, however, it has been enhanced to Rs. 10,000/- in the year 2007 for covering more employees (enenthough the ceiling limit is 3,500/-)
From India, Mumbai
Statutory Bonus is mainly concerned for workmen category, who comes under Contract Labour Act / minimum wages Act. You please dont compare your salary for Bonus. Salary of the minimum wages workmen is comparatively low and Rs. 3,500/- is good amount for them. Earlier, Bonus applicable to the employees whose basic was Rs. 3,500/-, however, it has been enhanced to Rs. 10,000/- in the year 2007 for covering more employees (enenthough the ceiling limit is 3,500/-)
From India, Mumbai
Dear Supreme
Computation of bonus should be worked out as per schedule I to IV of the Act. Every person drawing salary between Rs3500/- and Rs10,000/- per month. The bonus payable to him is to be calculated as if his salar were Rs3500/- p.m.
Till date there is not any enanchement to Rs 5000/-pm.
Thanks & Regards
V K Sharma
HR, Tarapur
Computation of bonus should be worked out as per schedule I to IV of the Act. Every person drawing salary between Rs3500/- and Rs10,000/- per month. The bonus payable to him is to be calculated as if his salar were Rs3500/- p.m.
Till date there is not any enanchement to Rs 5000/-pm.
Thanks & Regards
V K Sharma
HR, Tarapur
Can any body clarify why deduction for ESIC is Gross Amt 15000/-. We are having so many labour working under contractor getting more than 15000/- per month. There should not be any limit for working under contractor and ESIC means medical benifit for labour. Can any body elaborate more on this.
Ramesh
Dept of Accounts
TPL, RSP, Rourkela
From India, Rourkela
Ramesh
Dept of Accounts
TPL, RSP, Rourkela
From India, Rourkela
Dear All
My opinion after going through this conversation, the payment of bonus act after amendment ,cover large employees,it is good thing for us,before that we only calculate on rs 2500/salary limit was 3500.
with regards
madhuresh
From India, Kumar
My opinion after going through this conversation, the payment of bonus act after amendment ,cover large employees,it is good thing for us,before that we only calculate on rs 2500/salary limit was 3500.
with regards
madhuresh
From India, Kumar
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
ESI NOTIFICATION CEILING LIMIT 10000 TO 15000 w.e.f.1-05-2010 .doc
GO_Wage ceiling limit increase 200410.pdf