supreme_1974
3

pls let me know the ceiling limit for payment of bonus at present. is it still 3500/- or enhanced to 5000/-
From India, Vijayawada
boss2966
1168

No. The Bonus salary Ceiling limit is still Rs.3500/- per month. If we calculate the Bonus as per the ceiling salary then in case of 8.33% (Minimum Bonus to be paid) then Rs.3499/- and for 20% (Maximum Bonus can be paid) then Rs.8400/- only.
You can get the details by doing search option available at top of this page. Further if you are not satisfied then you can check the side bar in the right sice where you can find the relevant threads which were discussed earlier.

From India, Kumbakonam
dknagar333
There has been no change in the ceiling for payment of Statutory Bonus. It continues to be Rs 3,500/-.
From India, Delhi
dbalaji3
3

This is strange. When salary levels have gone up multi fold, the Bonus act still talks of only Rs.3500/- as ceiling limit. This is just unacceptable from everybody's view. Why trade unions are keeping silent on this is not understood
From India, Bangalore
abbasiti
517

Dear friends, Ceiling limit on salary for the eligibility for bonus is not Rs. 3500, but Rs. 10,000. But the for bonus calculation salary upto Rs. 3500 willo be taken into account. Abbas.P.S
From India, Bangalore
guru_home
24

Dear Supreme_1974 & Dbalaji3,
Statutory Bonus is mainly concerned for workmen category, who comes under Contract Labour Act / minimum wages Act. You please dont compare your salary for Bonus. Salary of the minimum wages workmen is comparatively low and Rs. 3,500/- is good amount for them. Earlier, Bonus applicable to the employees whose basic was Rs. 3,500/-, however, it has been enhanced to Rs. 10,000/- in the year 2007 for covering more employees (enenthough the ceiling limit is 3,500/-)

From India, Mumbai
vinodsharma68
Dear Supreme
Computation of bonus should be worked out as per schedule I to IV of the Act. Every person drawing salary between Rs3500/- and Rs10,000/- per month. The bonus payable to him is to be calculated as if his salar were Rs3500/- p.m.
Till date there is not any enanchement to Rs 5000/-pm.
Thanks & Regards
V K Sharma
HR, Tarapur


Ramesh64974
4

Can any body clarify why deduction for ESIC is Gross Amt 15000/-. We are having so many labour working under contractor getting more than 15000/- per month. There should not be any limit for working under contractor and ESIC means medical benifit for labour. Can any body elaborate more on this.
Ramesh
Dept of Accounts
TPL, RSP, Rourkela

From India, Rourkela
career_destination2012@yahoo.in
1

Dear All
My opinion after going through this conversation, the payment of bonus act after amendment ,cover large employees,it is good thing for us,before that we only calculate on rs 2500/salary limit was 3500.
with regards
madhuresh

From India, Kumar
supreme_1974
3

Yes it is good thing, but only thing is the lowest ceiling limit should be around 5000 or it should be 8.33% of basic+da.
From India, Vijayawada
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.






Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.