Pl.informus regarding Bonus Act Form - A Computation of the Allocable sURPLUS UNDER sECTION 2(4) calculation method. V.B.Pandey
From India, Mumbai
From India, Mumbai
Dear Pandey ji,Please see the attachment for BONUS REGISTER, under this act.Regards,PBS KUMAR
From India, Kakinada
590From India, Kakinada
Dear Sangeeta
U have a right question,according to my knowledge based on the bonus Act,it can not be part and parcel of CTC
Bonus calculations will be based on balance sheet and after working allocable surplus and available as prescribed under bonus Act.then only the company will be knowing the % of bonus to be declared/payable.How can any one presume and add in to the CTC,
In case of adding in to CTC @8.33% and available % is @16% the employer is liable to pay the difference to its employees,however in all normal cicumstances it is not happening .
with regard to to ur second question whether it can attract ESI,CTC will be in TWO/THREE parts one is salary part ie basic ,HRA,and other allowences.The second part is statutory ie PF and ESI,.The Third one is others where in we can show LTA,Medical,Bonus ,hence it will not attract ESI.when we are showing the same in Third coloumn it can be paid only at the year end.
In case employee leaving the organisation before the payment ,and while settling F &F the bonus as shown in CTC is to be paid along with settlement.
If some one raises a dispute it is responsibility of the compnay to prepare workings as per bonus act.
Patrudu
098668-67772
From India, Hyderabad
U have a right question,according to my knowledge based on the bonus Act,it can not be part and parcel of CTC
Bonus calculations will be based on balance sheet and after working allocable surplus and available as prescribed under bonus Act.then only the company will be knowing the % of bonus to be declared/payable.How can any one presume and add in to the CTC,
In case of adding in to CTC @8.33% and available % is @16% the employer is liable to pay the difference to its employees,however in all normal cicumstances it is not happening .
with regard to to ur second question whether it can attract ESI,CTC will be in TWO/THREE parts one is salary part ie basic ,HRA,and other allowences.The second part is statutory ie PF and ESI,.The Third one is others where in we can show LTA,Medical,Bonus ,hence it will not attract ESI.when we are showing the same in Third coloumn it can be paid only at the year end.
In case employee leaving the organisation before the payment ,and while settling F &F the bonus as shown in CTC is to be paid along with settlement.
If some one raises a dispute it is responsibility of the compnay to prepare workings as per bonus act.
Patrudu
098668-67772
From India, Hyderabad
Hi all,
As a new HR-person, kindley help me out. Are you all not talking about a Djiwalibonus ? What kind of bonus is this, is it obliged to be paid to all people? Please inform me,
Kindest regards,
Petra
From Netherlands, Amsterdam
As a new HR-person, kindley help me out. Are you all not talking about a Djiwalibonus ? What kind of bonus is this, is it obliged to be paid to all people? Please inform me,
Kindest regards,
Petra
From Netherlands, Amsterdam
Dear Gaurav
Lot Of Communication We Have Seen On This Issue.
Every One Has Put Up Their Point.
Let Me Give My Point A Very Simple Manner
As Per Bonus Act 1965 And As Per Amendment Of Last Year Please Go Throughly Following Points
1.eligibility
From India
Lot Of Communication We Have Seen On This Issue.
Every One Has Put Up Their Point.
Let Me Give My Point A Very Simple Manner
As Per Bonus Act 1965 And As Per Amendment Of Last Year Please Go Throughly Following Points
1.eligibility
From India
if you gently calculate what they are earned the previous year his total earned basic*8.33%and Exgratia is 11.67% = the total payable Bonus is 20% of his earned basic amont
From India, Madras
From India, Madras
Dear Gaurav
Lot Of Communication We Have Seen On This Issue.
Every One Has Put Up Their Point.
Let Me Give My Point A Very Simple Manner
As Per Bonus Act 1965 And As Per Amendment Of Last Year Please Go Throughly Following Points
1.ELIGIBILITY FOR BONUS AS PER ACT : BASIC+DA SHOULD BE WITHIN THE RANGE OF RS.3500/- PM TO 10000/-.
2.FOR DISBURSE OF BONUS CEILING IS RS. 3500/-
AS PER ACT STATUTORILY WE HAVE TO PAY 8.33% MINIMUM BONUS THAT COMES TO 3500*8.33% =RS.291.55 PER MONTH AND SUBSEQUENTLY RS.3500/- PER YEAR
MAXIMUM WE CAN PAY UNDER THIS ACT IS 20% THAT IS 20% OF 3500/- IS RS 700/- PM AND RS 8400/- PER YEAR.
3.EVEN WORKER WORKS FOR MINIMUM OF ONE MONTH HE IS ELIGIBLE FOR BONUS AS PER THE ACT .
4.FOR CALCULATION OF BONUS ATTENDANCE TO BE CONSIDERED FOR LAST FINACIAL YEAR (THAT 1 APR 2007 TO 31 MAR 2008 FOR BONUS TO BE PAID IN OCT 2008
4.BONUS TO BE PAID WITHIN SIX MONTHS AFTER CLOSE OF FINANCIAL YEAR THAT MEANS FINANCIAL YEAR CLOSING IS MARCH AND BONUS TO BE PAID IN THE MONTH OF OCT EVERY YEAR.
5. 'A' , 'B', AND 'C' BOOKS HAS TO BE MAINTAINED FOR BONUS AND SAME TO BE PRODUCED TO GOVT AUTHORITIES ON DEMAND
THANKS AND REGARDS
RAVINDRA SHENVI
MANAGER HR
From India
Lot Of Communication We Have Seen On This Issue.
Every One Has Put Up Their Point.
Let Me Give My Point A Very Simple Manner
As Per Bonus Act 1965 And As Per Amendment Of Last Year Please Go Throughly Following Points
1.ELIGIBILITY FOR BONUS AS PER ACT : BASIC+DA SHOULD BE WITHIN THE RANGE OF RS.3500/- PM TO 10000/-.
2.FOR DISBURSE OF BONUS CEILING IS RS. 3500/-
AS PER ACT STATUTORILY WE HAVE TO PAY 8.33% MINIMUM BONUS THAT COMES TO 3500*8.33% =RS.291.55 PER MONTH AND SUBSEQUENTLY RS.3500/- PER YEAR
MAXIMUM WE CAN PAY UNDER THIS ACT IS 20% THAT IS 20% OF 3500/- IS RS 700/- PM AND RS 8400/- PER YEAR.
3.EVEN WORKER WORKS FOR MINIMUM OF ONE MONTH HE IS ELIGIBLE FOR BONUS AS PER THE ACT .
4.FOR CALCULATION OF BONUS ATTENDANCE TO BE CONSIDERED FOR LAST FINACIAL YEAR (THAT 1 APR 2007 TO 31 MAR 2008 FOR BONUS TO BE PAID IN OCT 2008
4.BONUS TO BE PAID WITHIN SIX MONTHS AFTER CLOSE OF FINANCIAL YEAR THAT MEANS FINANCIAL YEAR CLOSING IS MARCH AND BONUS TO BE PAID IN THE MONTH OF OCT EVERY YEAR.
5. 'A' , 'B', AND 'C' BOOKS HAS TO BE MAINTAINED FOR BONUS AND SAME TO BE PRODUCED TO GOVT AUTHORITIES ON DEMAND
THANKS AND REGARDS
RAVINDRA SHENVI
MANAGER HR
From India
Sir,
As stated above i am agree with it but i want to know that if a peroson getting salary more then 10000 is he eligible for the bonus or not. i have read the Payment of bonus act but i could not clear my above doubt. Please clearify me.
Suraj Biswal.
From India, Bhubaneswar
As stated above i am agree with it but i want to know that if a peroson getting salary more then 10000 is he eligible for the bonus or not. i have read the Payment of bonus act but i could not clear my above doubt. Please clearify me.
Suraj Biswal.
From India, Bhubaneswar
The latest Bonus ordinance has been passed in the year 2007
Bonus be caliculated whose Pay+Da not exceeds Rs.10,000 Per month.
all Regular, Casual and Contract employees are eligible to receive the Bonus as per the above wage limit.
who worked 30 days in a year are also eligible to receive BONUS
Bonus be caliculated whose Pay+Da not exceeds Rs.10,000 Per month.
all Regular, Casual and Contract employees are eligible to receive the Bonus as per the above wage limit.
who worked 30 days in a year are also eligible to receive BONUS
dear gaurav,
Employees receiving salary upto 10000 per month are elegible for BOnus under the Bonus Act. The ceiling amount for the amount of Bonus is Rs.3500/-.If your company is willing to pay bonus for persons receiving salary more than 10000, it will be treated as Ex-gratia amount. You please gothroughthe amendment sheet in the act, as attached
From India, Madras
Employees receiving salary upto 10000 per month are elegible for BOnus under the Bonus Act. The ceiling amount for the amount of Bonus is Rs.3500/-.If your company is willing to pay bonus for persons receiving salary more than 10000, it will be treated as Ex-gratia amount. You please gothroughthe amendment sheet in the act, as attached
From India, Madras
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