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As per the bonus Act 1965, the bonus has to be paid @ 8.33 % to 20 %. The minimum bonus to be paid can be shown in the appointment letter.
The ceiling was raised recently from Rs. 3500 to 10,000 and Certain organisations pays ex-gratia for executives earning more than Rs. 10,000 per month. I am of the view that there is nothing wrong in mentioning the minimum assured amount in the offer of employment. Some of the leading /best employers in the country even include the performance pay in the CTC which is solely based on the performance. But they put the performance pay based on the average/normal performance
rajesh babu
From India, Kochi
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The ceiling was raised recently from Rs. 3500 to 10,000 and Certain organisations pays ex-gratia for executives earning more than Rs. 10,000 per month. I am of the view that there is nothing wrong in mentioning the minimum assured amount in the offer of employment. Some of the leading /best employers in the country even include the performance pay in the CTC which is solely based on the performance. But they put the performance pay based on the average/normal performance
rajesh babu
From India, Kochi
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As per the bonus Act 1965, the bonus has to be paid @ 8.33 % to 20 %. The minimum bonus to be paid can be shown in the appointment letter.
The ceiling was raised recently from Rs. 3500 to 10,000 and Certain organisations pay ex-gratia for executives earning more than Rs. 10,000 per month. I am of the view that there is nothing wrong in mentioning the minimum assured amount in the offer of employment. Some of the leading /best employers in the country even include the performance pay in the CTC which is solely based on the performance. But they put the performance pay based on the average/normal performance
rajesh babu
From India, Kochi
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The ceiling was raised recently from Rs. 3500 to 10,000 and Certain organisations pay ex-gratia for executives earning more than Rs. 10,000 per month. I am of the view that there is nothing wrong in mentioning the minimum assured amount in the offer of employment. Some of the leading /best employers in the country even include the performance pay in the CTC which is solely based on the performance. But they put the performance pay based on the average/normal performance
rajesh babu
From India, Kochi
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Could you please advise if Bonus is payable on leaves encashed.
From India, Mumbai
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From India, Mumbai
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No bonus is payable on the amount of leave encashed.
Very important: The post pertains to 2010, some six years back, when the ceiling for bonus was Rs 10,000 and bonus was calculated on Rs 3,500. Now these are Rs 21,000 and Rs 7,000 respectively.
Madhu.T.K
From India, Kannur
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Very important: The post pertains to 2010, some six years back, when the ceiling for bonus was Rs 10,000 and bonus was calculated on Rs 3,500. Now these are Rs 21,000 and Rs 7,000 respectively.
Madhu.T.K
From India, Kannur
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Sir,
We are facing a problem regarding the bonus because we received a work order from a government body to provide manpower services through outsourcing. While participating in the bidding process, the employer fixed the service charge at 5% of wages, which includes bonus payments. It was stated in the tender that the bonus payment would not be considered as part of the service provider's remuneration. In this situation, what steps should we take? If we continue working with the company, we will incur a loss of -3.33%.
Please advise on how to proceed in this scenario.
Thank you.
From India, Indore
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We are facing a problem regarding the bonus because we received a work order from a government body to provide manpower services through outsourcing. While participating in the bidding process, the employer fixed the service charge at 5% of wages, which includes bonus payments. It was stated in the tender that the bonus payment would not be considered as part of the service provider's remuneration. In this situation, what steps should we take? If we continue working with the company, we will incur a loss of -3.33%.
Please advise on how to proceed in this scenario.
Thank you.
From India, Indore
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