Hello Seniors.
Hope you will doing good.
Can any one elaborate this, because i can't understand the sound of this article:-
"Calculation of bonus with respect to certain employees.
2*[12. Calculation of bonus with respect to certain employees.-
Where the salary or wage of an employee exceeds 3*[two 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 3*[two thousand and five
hundred rupees] per mensem.]"
thanks in advance.
Best Regards,
Amar
From India, Delhi
29Hope you will doing good.
Can any one elaborate this, because i can't understand the sound of this article:-
"Calculation of bonus with respect to certain employees.
2*[12. Calculation of bonus with respect to certain employees.-
Where the salary or wage of an employee exceeds 3*[two 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 3*[two thousand and five
hundred rupees] per mensem.]"
thanks in advance.
Best Regards,
Amar
From India, Delhi
Hi, It means an employee who may be earning any amount of salary but while calculating bonus you have take 3500 only as his base salary . Regards Rajeev Dixit
From India, Bangalore
From India, Bangalore
Dear Amar,
As per amendment 2007, the amount of Rs. 2500/- which you mentioned in your query is substituted by Rs. 3500/-.
This section ( section 12) deals with ceiling for the purpose of calculation of Bonus. According to it, if a salary of an employee exceeds Rs. 3500/- (now), say Rs. 5000/-, the Bonus is calculated on Rs. 3500/- and not on Rs. 5000/-.
Hope my answer is up to your satisfaction.
From India, Mumbai
As per amendment 2007, the amount of Rs. 2500/- which you mentioned in your query is substituted by Rs. 3500/-.
This section ( section 12) deals with ceiling for the purpose of calculation of Bonus. According to it, if a salary of an employee exceeds Rs. 3500/- (now), say Rs. 5000/-, the Bonus is calculated on Rs. 3500/- and not on Rs. 5000/-.
Hope my answer is up to your satisfaction.
From India, Mumbai
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.
KNOW ABOUT MINIMUM WAGES ACT.pdf
SELF-CERTIFICAT E PROFORMA UNNDER THE MINIMUM WAGES ACT, 1948.doc
Minimum Wages and PSAR Act.ppt