Dear Gopal
Rs. 10,000/- is the celling amount for determining the eligibility of bonus.
a employee who is getting basic+da less than 10,000/- then he will be eligible for bonus.
Now, Rs. 3500/- . This is the amount on which the bonus is calculated. Say if your company is giving minimum bonus means 8.33% then it will be calculated on ((3500/no. of days in month*paid days)*8.33%) per month.
and if bonus it is declared 20%, then ((3500/no. of days in month*paid days)*20%) per month.
The percentage of bonus has to be decided on the set off and set on.
Rupesh Bhatt
From India, Mumbai
Rs. 10,000/- is the celling amount for determining the eligibility of bonus.
a employee who is getting basic+da less than 10,000/- then he will be eligible for bonus.
Now, Rs. 3500/- . This is the amount on which the bonus is calculated. Say if your company is giving minimum bonus means 8.33% then it will be calculated on ((3500/no. of days in month*paid days)*8.33%) per month.
and if bonus it is declared 20%, then ((3500/no. of days in month*paid days)*20%) per month.
The percentage of bonus has to be decided on the set off and set on.
Rupesh Bhatt
From India, Mumbai
PUBLIC NOTICE
Department of Labour
Government of Maharashtra
Maharashtra mandates payment of bonus only through cheques/banks
The Government of Maharashtra vide ordinance from the Labour Department dated 17.09.2010 has mandated payment of bonus to all workers/employees through cheque/bank account only.
The employers should, therefore, immediately open their own bank accounts and those of their workers, if not already opened in any nationalized/scheduled banks having core banking facility.
In case of any concerns please contact local labour office.
Commissioner of Labour
Maharashtra State
DGIPR/2010-11/1446
From India, Mumbai
Department of Labour
Government of Maharashtra
Maharashtra mandates payment of bonus only through cheques/banks
The Government of Maharashtra vide ordinance from the Labour Department dated 17.09.2010 has mandated payment of bonus to all workers/employees through cheque/bank account only.
The employers should, therefore, immediately open their own bank accounts and those of their workers, if not already opened in any nationalized/scheduled banks having core banking facility.
In case of any concerns please contact local labour office.
Commissioner of Labour
Maharashtra State
DGIPR/2010-11/1446
From India, Mumbai
Dear Mam,
Greetings from Dhinesh Kannan!
I need your help, can you tell me, what is the bonus calculation for the financial year 2009-10.
With Warm Regards
Dhinesh Kannan
98849 07207
Regards,
R.N.Khola
Sr. Associate
Skylark Associates, Gurgaon (Haryana)
(Labour Law & Legal Consultants)
311, AKD Tower, Sector 14, Gurgaon
09810405361[/QUOTE]
From India, Madras
1Greetings from Dhinesh Kannan!
I need your help, can you tell me, what is the bonus calculation for the financial year 2009-10.
With Warm Regards
Dhinesh Kannan
98849 07207
Regards,
R.N.Khola
Sr. Associate
Skylark Associates, Gurgaon (Haryana)
(Labour Law & Legal Consultants)
311, AKD Tower, Sector 14, Gurgaon
09810405361[/QUOTE]
From India, Madras
23-10-2010
Dear friends
I read all your suggestion and reply which is useful to me, can anyone clarify me what is Bonus act for the fy 2009-2010. I am working in shop at chennai, is there any ceiling of bonus and if the management willing to give bonus more than 15000/- on consolidated pay is it correct please guide me.
thanks
regards
samusahana
From India, Madras
Dear friends
I read all your suggestion and reply which is useful to me, can anyone clarify me what is Bonus act for the fy 2009-2010. I am working in shop at chennai, is there any ceiling of bonus and if the management willing to give bonus more than 15000/- on consolidated pay is it correct please guide me.
thanks
regards
samusahana
From India, Madras
Dear friends,
Thanks for the fantastic information sharing.... I Just got my bonus, however i have not got the bifurcation of the amount received.... (No % bifurcation like... X % of basic etc)
can anyone clarify me what is Bonus act for the fy 2009-2010. & confirm the Maximum bonus amount is 8400.
Please assist me with the calculation (bifurcation) as i'm not getting it easily in my brains... :(
Ashutosh Dixit.
Pune
From India, Pune
Thanks for the fantastic information sharing.... I Just got my bonus, however i have not got the bifurcation of the amount received.... (No % bifurcation like... X % of basic etc)
can anyone clarify me what is Bonus act for the fy 2009-2010. & confirm the Maximum bonus amount is 8400.
Please assist me with the calculation (bifurcation) as i'm not getting it easily in my brains... :(
Ashutosh Dixit.
Pune
From India, Pune
Dear Member,
Welcome to Cite HR.
You should post your query on similar or separate post as this post relates to Bonus Act, 1965.
With Regards,
R.N.Khola
From India, Delhi
Welcome to Cite HR.
You should post your query on similar or separate post as this post relates to Bonus Act, 1965.
With Regards,
R.N.Khola
From India, Delhi
I have left my ealier company in May 2010. My basic was more then Rs 10000. Am I entiteled for the bonus for the yr 2009 - 2010. The company has recntly given the bonus to the existing employees having baic salary more then Rs10000. Kindly advice
From India, Mumbai
From India, Mumbai
Hi. I want to know if a company is under loss, is it a rule to pay bonus to their employees. We are undertaking piece work contract and as the minimum wages for the workers is hiked by labour department, we have undergone loss and let me know in this case should we have to pay bonus.
From India, Bangalore
From India, Bangalore
Dear Member,
If your establishment is covered under this Act & is newly set up then go through section 16 of the Payment of Bonus Act. If you are in infancy period & the establishment is in losses then for that accounting year you are not required to pay bonus to the employees. After the infancy period we are bound to pay minimum bonus every year even if we are under losses.
[SIZE=1]R.N.Khola
[COLOR=#3366ff][FONT=Verdana]
From India, Delhi
If your establishment is covered under this Act & is newly set up then go through section 16 of the Payment of Bonus Act. If you are in infancy period & the establishment is in losses then for that accounting year you are not required to pay bonus to the employees. After the infancy period we are bound to pay minimum bonus every year even if we are under losses.
[SIZE=1]R.N.Khola
[COLOR=#3366ff][FONT=Verdana]
From India, Delhi
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.
The Payment Of Bonus Act 1965-Update-02- 01.01.16-Wage - 21K- Min Bons 7K-01.04.14.pdf