Dear Coolchini & Neelam Nailwal,
1. (to Coolchini) If salary is above Rs. 10,000, he is not eligible (as statutory) for bonus.
2. (to Neelam) Salary ceiling for Bonus payment is Rs. 3,500. i.e Actual salary or Rs. 3,5000 whichever is less, will be taken for calculation. In this case it is Rs. 3,300.
Abbas.P.S
From India, Bangalore
5171. (to Coolchini) If salary is above Rs. 10,000, he is not eligible (as statutory) for bonus.
2. (to Neelam) Salary ceiling for Bonus payment is Rs. 3,500. i.e Actual salary or Rs. 3,5000 whichever is less, will be taken for calculation. In this case it is Rs. 3,300.
Abbas.P.S
From India, Bangalore
Re: Bonus Eligibility and other details
Please note: the ceiling amount for calculation of Bonus has been enhanced from Rs3500 to Rs5000 and percentage limit has been increased from 8.33% to 11%. This is latest amendment. For this purpose I am attaching herewith the copy of amendment.
Anil Parmar
From India, Chandigarh
Please note: the ceiling amount for calculation of Bonus has been enhanced from Rs3500 to Rs5000 and percentage limit has been increased from 8.33% to 11%. This is latest amendment. For this purpose I am attaching herewith the copy of amendment.
Anil Parmar
From India, Chandigarh
Dear Anil Parmar, The above amendment is not enacted yet. The bill will only come into force after passing by both houses of Parliament. We have to wait till then. Abbas.P.S
From India, Bangalore
From India, Bangalore
Dear All,
The two queries raised are answered below
1. What will be the bonus amount if the employee draws more than Rs.10000/-?
He is not eligible to receive bonus as per Bonus Act as on date but if the company wishes then it can pay him ex - gratia in line with the bonus act i.e wage ceiling of Rs.3500 X 12 X Bonus percentage (Between 8.33% - Minimum Bonus and 20% - Maximum Bonus).
2. What will be the bonus amount if the employee draws less than Rs.3500/-?
It will be the actual amount earned by him if it is Rs.3400/- then consider only Rs.3400/-
Trust the matter is clarified
M.V.KANNAN
From India, Madras
The two queries raised are answered below
1. What will be the bonus amount if the employee draws more than Rs.10000/-?
He is not eligible to receive bonus as per Bonus Act as on date but if the company wishes then it can pay him ex - gratia in line with the bonus act i.e wage ceiling of Rs.3500 X 12 X Bonus percentage (Between 8.33% - Minimum Bonus and 20% - Maximum Bonus).
2. What will be the bonus amount if the employee draws less than Rs.3500/-?
It will be the actual amount earned by him if it is Rs.3400/- then consider only Rs.3400/-
Trust the matter is clarified
M.V.KANNAN
From India, Madras
Dear Senthil D. I wish to keep silent as my dear friends Abbas, Kannan are on right track and there is no additional to write down, so, follow them and enjoy bonus act at ur end. Regards, KIRAN KALE
From India, Kolhapur
From India, Kolhapur
A employee is eligible for bonus only if he has worked for more than 30 days in a year other points have already been answered
From India, New Delhi
From India, New Delhi
Dear Ranganath Magge, You have mentioned that minimum attendance for bonus eligibility is more than 30 days in a financial year. But more than 30 days is not mandatory, 30 days will do. Abbas
From India, Bangalore
From India, Bangalore
Regards There,
I have a query regarding payment of my bonus / Ex-gratia, please have a look on below details for the complete insight of my case;
I have joined an organization on 16th Jan 2008 and place my resignation from the services of this company on Dt. 18th Sep 2010 and my last date was in this company was 15th Oct 2010.
At the time of my joining my Basic salary was Rs.13000 / month and last drawing of basic salary was Rs.14560 / month. During my working in this company, this company announced the Ex-gratia in Oct 2008 (On Deewali) FY 2008-2009, but I did not receive the same due to I did not complete 12 calendar months at the time of Ex-gratia distribution.
Again in Nov 2009 (On Deewali) FY 2009-2010 this company announces the ex-gratia and I received the same because of completion of 12 calendar months at the time of distribution.
And now this company has announced the ex-gratia in Oct 2010 (On Deewali) FY 2010-2011.
I want to know, will this company give me Ex-gratia in my full and final settlement as I have completed 33 calendar months till my last date in this company.
Can I legally force this company for the payment of ex-gratia?
Best Regards
K. K. Gupta
9312127116
From India, Delhi
I have a query regarding payment of my bonus / Ex-gratia, please have a look on below details for the complete insight of my case;
I have joined an organization on 16th Jan 2008 and place my resignation from the services of this company on Dt. 18th Sep 2010 and my last date was in this company was 15th Oct 2010.
At the time of my joining my Basic salary was Rs.13000 / month and last drawing of basic salary was Rs.14560 / month. During my working in this company, this company announced the Ex-gratia in Oct 2008 (On Deewali) FY 2008-2009, but I did not receive the same due to I did not complete 12 calendar months at the time of Ex-gratia distribution.
Again in Nov 2009 (On Deewali) FY 2009-2010 this company announces the ex-gratia and I received the same because of completion of 12 calendar months at the time of distribution.
And now this company has announced the ex-gratia in Oct 2010 (On Deewali) FY 2010-2011.
I want to know, will this company give me Ex-gratia in my full and final settlement as I have completed 33 calendar months till my last date in this company.
Can I legally force this company for the payment of ex-gratia?
Best Regards
K. K. Gupta
9312127116
From India, Delhi
Dear K.K.Gupta,
u wrote that u were receiving basic salary more than 10000/- p.m. So, it is very hard 4 u to receive the amount of ex gratia bcause ex gratia payment is not mandatory and general practice is no payment of ex gratia shall be given to those who left the services, u will be lucky if u get it. Do not try to force them but to request them 4 ex gratia as u had work during the accounting year.
Regards,
KIRAN KALE
From India, Kolhapur
u wrote that u were receiving basic salary more than 10000/- p.m. So, it is very hard 4 u to receive the amount of ex gratia bcause ex gratia payment is not mandatory and general practice is no payment of ex gratia shall be given to those who left the services, u will be lucky if u get it. Do not try to force them but to request them 4 ex gratia as u had work during the accounting year.
Regards,
KIRAN KALE
From India, Kolhapur
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Bonus eligibility.xls
Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf