My payment 897 wages X 26 day= gross payment 23322.00... Is Bonus applicable or not?
(Rs. 21000.00 X 8.33% = 1749.30 / 26 = 67.28 per day).
It is possible to bonus given or not @ a salary of 21000.00???
Please suggest/guide me.
From India, Bangalore
(Rs. 21000.00 X 8.33% = 1749.30 / 26 = 67.28 per day).
It is possible to bonus given or not @ a salary of 21000.00???
Please suggest/guide me.
From India, Bangalore
If the earned gross salary is more than Rs 21000, no bonus shall become payable to the employee. But if any part of the year had accounted for a wages of Rs 21000 or less than Rs 21000 the earned salary for that period will qualify for bonus. In respect of employees with salary of more than Rs 21000, there is no need to pay bonus treating it as Rs 21000. Moreover, even in respect of employees within the bonus wages ceiling limit of Rs 21000, you can pay bonus calculated on the basis of a salary of Rs 7000 or statutory minimum wages whichever is higher.
Simply, an employee whose salary of Rs 21001 need not be given bonus.
In respect of an employee whose salary is Rs 21000, you should pay bonus. The bonus need not be calculated on 21000 but it can be capped to 8.33% of 7000 for each month. If the statutory wages fixed by the government is, say, Rs 12000, then you should calculate the bonus on Rs 12000 as if their wages is Rs 12000 per month. .
From India, Kannur
4249Simply, an employee whose salary of Rs 21001 need not be given bonus.
In respect of an employee whose salary is Rs 21000, you should pay bonus. The bonus need not be calculated on 21000 but it can be capped to 8.33% of 7000 for each month. If the statutory wages fixed by the government is, say, Rs 12000, then you should calculate the bonus on Rs 12000 as if their wages is Rs 12000 per month. .
From India, Kannur
Every employee who is drawing a salary/wages (basic + DA) up to Rs.21,000/-per month and who has worked for minimum period of 30 days in a year is entitled to be paid bonus as per the Payment of Bonus Act.
As per Act, bonus amount is being paid @8.33% to 20% of ceiling limit - Rs.7,000/- or minimum wages (basic + D.A.) whichever is higher.
From India, Thane
As per Act, bonus amount is being paid @8.33% to 20% of ceiling limit - Rs.7,000/- or minimum wages (basic + D.A.) whichever is higher.
From India, Thane
Though statutory bonus is not payable for wages beyond Rs. 21,000/- as per Payment of Bonus Act 1965, there are many organisations that protect the same amount or pay a different amount as an incentive to the other employees. After all every body has contributed and should get their due share of the cake.
From India, Mumbai
From India, Mumbai
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PAYMENT OF WAGES ACT 2009.doc