Kindly let us know the latest amendments to Payment of Bonus Act 1965 & maximum limit of bonus and salary.
From India, Bhubaneswar
5From India, Bhubaneswar
Hi, the limit for calculation of Bonus is Rs 15000/- previously it was Rs 10000/- Regards, Siva Kumar Tata
From India, Hyderabad
From India, Hyderabad
Hai frnds,
sory mr.shivakumar1611 i am not agree with you.
in my exprin..
As Per Bonus Act 1965 and Bonus Rules 1975.
The Bonus Calicli...
BASIC + DA * Serives * Percentage
Exp.. Our company having only 8.33% so my bonus in last year 4000*8.33%*12=3498
And Rules :
1) He Must work at least 30 days in last financil year.
2) Bonus Limit 3500/- Celing Only
3) Salary Limit 10000/- Only (Above 10,000/- salary not elgib.. for bonus)
4) Limit Min 8.33% to 20% only
as of my knowledge thare is no latest amendments...
if you have a amendments copy or any other proof , plz send to same
Regrds,
Guru.
From India, Visakhapatnam
sory mr.shivakumar1611 i am not agree with you.
in my exprin..
As Per Bonus Act 1965 and Bonus Rules 1975.
The Bonus Calicli...
BASIC + DA * Serives * Percentage
Exp.. Our company having only 8.33% so my bonus in last year 4000*8.33%*12=3498
And Rules :
1) He Must work at least 30 days in last financil year.
2) Bonus Limit 3500/- Celing Only
3) Salary Limit 10000/- Only (Above 10,000/- salary not elgib.. for bonus)
4) Limit Min 8.33% to 20% only
as of my knowledge thare is no latest amendments...
if you have a amendments copy or any other proof , plz send to same
Regrds,
Guru.
From India, Visakhapatnam
Dear friends,
our respected friend Mr. Khola has raised a vital point.
If there is an amendment in Bonus Act (which is not yet as I believe and many more also including Mr. Khola), the person circulating such information must support with document.
Otherwise, it will create confusion and brings down the credibility of CITE HR.
People take contents posted on this site, very seriously.We all must keep in mind before posting any information.
No Intention to hurt anyone.
regds
anil kaushik
From India, Delhi
our respected friend Mr. Khola has raised a vital point.
If there is an amendment in Bonus Act (which is not yet as I believe and many more also including Mr. Khola), the person circulating such information must support with document.
Otherwise, it will create confusion and brings down the credibility of CITE HR.
People take contents posted on this site, very seriously.We all must keep in mind before posting any information.
No Intention to hurt anyone.
regds
anil kaushik
From India, Delhi
The Statement of Mr. Guru is correct. The Salary limit as on date is Rs. 10,000/- only. Proposal is there to enhance it to Rs. 15,000/-. But amendment has not taken place yet.
D. Phani Kumar
DGM- HR
VASAVADATTA CEMENT
D. Phani Kumar
DGM- HR
VASAVADATTA CEMENT
Mr. D. Phani Kumar, is correct. There was a proposal to enhance the salary limit upto Rs. 15000/- for eligibility of bonus but this has not taken place yet.
From India, Lucknow
From India, Lucknow
Dear Siva Kumar you are telling about ESI.. while question was related to Bonus...ESI-earlier it was applicable on those employees who were drawing less than10k but now its 15 k...and Ya Mr. Guru is right.
Regards
Raj
Manager-HR
From India, New Delhi
Regards
Raj
Manager-HR
From India, New Delhi
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Bonus Amendment latest.pdf
Amendment to Payment of Bonus Act 2015.jpg