Hai,
Dear Mahesh,
The Bonus Amendment Act 2010 enhancing coverage limit to Rs. 15000, payment limit to Rs. 5000 & minimum to 11% are not enhanced yet. As per the existing norms, the ceiling salary limit for bonus payment is Rs. 3500. If he has not full attendance, it can be calculated simply by 3500xbasicdax 8.33%.. He may present any number of days at least min of 10 day's.
From India, Delhi
3Dear Mahesh,
The Bonus Amendment Act 2010 enhancing coverage limit to Rs. 15000, payment limit to Rs. 5000 & minimum to 11% are not enhanced yet. As per the existing norms, the ceiling salary limit for bonus payment is Rs. 3500. If he has not full attendance, it can be calculated simply by 3500xbasicdax 8.33%.. He may present any number of days at least min of 10 day's.
From India, Delhi
Dear Kannan,
The ceiling monthly salary for bonus coverage is Rs. 10,000 and for bonus payment is Rs. 3500. Monthly salary is meant for one month. i.e if the salary is in between Rs. 3500 and Rs. 10,000 and the attendance is below one month, calculation will be on pro-rata basis on Rs. 3500 only (not on actual salary).
For e.g, An employee with a salary of Rs. 6000 has worked for 15 days out of 30 days in a month, his entitled salary for bonus payment for that particular month is 3500 x 15/30 = Rs. 1750.
Abbas.P.S
From India, Bangalore
The ceiling monthly salary for bonus coverage is Rs. 10,000 and for bonus payment is Rs. 3500. Monthly salary is meant for one month. i.e if the salary is in between Rs. 3500 and Rs. 10,000 and the attendance is below one month, calculation will be on pro-rata basis on Rs. 3500 only (not on actual salary).
For e.g, An employee with a salary of Rs. 6000 has worked for 15 days out of 30 days in a month, his entitled salary for bonus payment for that particular month is 3500 x 15/30 = Rs. 1750.
Abbas.P.S
From India, Bangalore
Dear All, Pls let me know, If i want to pay bonus, from which month to which month I need to consider for payment of bonus and when I should pay the bonus? Regards Venu
From India, Bangalore
From India, Bangalore
Dear Venu,
Bonus is to be paid for wages earned by an employee during the accounting year as defined under section 2(1) of the Payment of Bonus Act, 1965 & this is to be disburse with in eight months from the close of the accounting year.
R.N.KHOLA
(M)09810405361
From India, Delhi
Bonus is to be paid for wages earned by an employee during the accounting year as defined under section 2(1) of the Payment of Bonus Act, 1965 & this is to be disburse with in eight months from the close of the accounting year.
R.N.KHOLA
(M)09810405361
From India, Delhi
Dear Seniors
I come across some problems, please clear it.
A employee salary as follow.
Gross salary - 12000 /-
Basic - 5500 /-
and he is working in staff.
will he eligible to get the bonus.
if yes,
lst,s confirm me what % and on which amount we calculate the bonus.
From India, Dehra Dun
I come across some problems, please clear it.
A employee salary as follow.
Gross salary - 12000 /-
Basic - 5500 /-
and he is working in staff.
will he eligible to get the bonus.
if yes,
lst,s confirm me what % and on which amount we calculate the bonus.
From India, Dehra Dun
Hi Self ashok Is it a statutary compliance to put Bonus in CTC if the pay scale is more than 3500/ Please do clarify this point please Regards
From India, Gurgaon
From India, Gurgaon
dear all of you please let me know Tell me know late submit of pf & e sic return which % with regards Pankaj lall
From India, Delhi
From India, Delhi
Dear Ashok, In my opinion none of the enactment asks us to put bonus payment in CTC. Moreover bonus percentage is declared by the management after the close of the accounting year. R.N.KHOLA
From India, Delhi
From India, Delhi
i am not clear about this bonus act. if the employee whose basic + DA is above Rs.10,000 then what should we do. is he not included in the act?
From India, Vadodara
From India, Vadodara
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Bonus act amendment gazette copy.pdf
THE PAYMENT OF BONUS ACT.doc