Dear Seniors,
our company is paying statutory bonus 8.33% on monthly basis along with salary for contract staff. is there any leagal complication by paying on monthly basis and is this right method to pay bec ESIC deducting on total salary from employee salary.
Basic 12140
DA 878
Con 656
Other all 2000
Bonus 1084
Gross 16758
att bonus 1000
Incentive 4000
total earned 21758
Kinldy suggest me for which amount esic should be deduct bec every month there are changes in paying incentive and attendance bonus.
kindly suggest me
Regards
Murali T P
From India, Bangalore
our company is paying statutory bonus 8.33% on monthly basis along with salary for contract staff. is there any leagal complication by paying on monthly basis and is this right method to pay bec ESIC deducting on total salary from employee salary.
Basic 12140
DA 878
Con 656
Other all 2000
Bonus 1084
Gross 16758
att bonus 1000
Incentive 4000
total earned 21758
Kinldy suggest me for which amount esic should be deduct bec every month there are changes in paying incentive and attendance bonus.
kindly suggest me
Regards
Murali T P
From India, Bangalore
I think Murali has not read the posts carefully. The main content of your query has been answered in these posts. Atleast read post No 4 in which I have given the explanation you have now sought for
From India, Kannur
4246From India, Kannur
Is bonus mandatory on paid holidays in West Bengal?
suppose, attendance=10 & 2 days festival/national holiday ,Basic=Rs-100/day
monthly basic=1200,and DA=1Rs/-therefore bonus=1000*8.33% or 1200*8.33%? Which is correct ?
From India, Tamluk
suppose, attendance=10 & 2 days festival/national holiday ,Basic=Rs-100/day
monthly basic=1200,and DA=1Rs/-therefore bonus=1000*8.33% or 1200*8.33%? Which is correct ?
From India, Tamluk
Bonus is to be calculated reckoning the earnings for weekly holidays & festivals . So it is Rs. 1200*8.33%
From India, Mumbai
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.
Statistics on violations Minimum Wages-Bonus Act.doc
Amendment to Payment of Bonus Act 2015.jpg
Delhi - Minimum Wages w.e.f. 01.10.2012 (1).pdf