Dear Seniors
I am looking to the minimum and maximum eligibility(cut off) of Bonus to an employee. What are the conditions for the bonus eligibility
Please help me to overcome with the solutions.
Thanking you
GKS
From India, Mumbai
I am looking to the minimum and maximum eligibility(cut off) of Bonus to an employee. What are the conditions for the bonus eligibility
Please help me to overcome with the solutions.
Thanking you
GKS
From India, Mumbai
Dear Sir As per my knowledge earlier minimum cut off of the Bonus Payable to any employee was Rs. 3500/-. But as on today may I know whether any new slab defined since we are running short of funds
From India, Mumbai
From India, Mumbai
Bonus Eligibility : (a) Must work minimum 30 days in the financial year. (b) Salary should be Rs.10000/- or less. (c) The bonus must be calculated on Actual Salary or Maximum of Rs.3500/- per month (i.e., if the salary is above Rs.3500/- then Rs.3500/- must be taken into account for calculating the Bonus amount). (d) In case of worker then the bonus can be calculated as per the no of days worked by the workmen.
Minimum Bonus 8.33% (Rs.3500/-) and Maximum Bonus 20% (Rs.8400/-).
Should be paid within 8 months during the next financial year. (i.e., for the year 2010-11, the Bonus must be paid on or before 30 Nov 2011).
Hope I have cleared your doubt. In case any further doubt please do not hesitate to raise your querries.
From India, Kumbakonam
1168Minimum Bonus 8.33% (Rs.3500/-) and Maximum Bonus 20% (Rs.8400/-).
Should be paid within 8 months during the next financial year. (i.e., for the year 2010-11, the Bonus must be paid on or before 30 Nov 2011).
Hope I have cleared your doubt. In case any further doubt please do not hesitate to raise your querries.
From India, Kumbakonam
dear sir
please inform me for our company as a limited company & two contrator are appointed for labour supply pleasetell me for contractor casual employees applicable bonus yes or no
thanks
khaladkar r g
From India, Pune
please inform me for our company as a limited company & two contrator are appointed for labour supply pleasetell me for contractor casual employees applicable bonus yes or no
thanks
khaladkar r g
From India, Pune
our company as a limited company & two contrator are appointed for labour supply pleasetell me for contractor casual employees applicable bonus yes or no thanks khaladkar r g
From India, Pune
From India, Pune
Dear Khaladkar R G
The Contractor Casual Employees are never work continuously and for long duration, they will leave the company after working 1 or 2 months tenure and if you make the Bonus Payment also it will not reach the concerned worker as they cannot be traced when they leave the organisation. Hence the companies never effect bonus payment for the Casual workers. But as a matter of fact the company contractors are supposed to effect payment to the casual workers also and those who had not received the bonus must be deposited with the Labour Commissioner Office at the end of the Financial year and in case the workman approaches the Labour office, the same bonus kept in the name will be released by the labour office after confirmation from concerned authorities.
From India, Kumbakonam
The Contractor Casual Employees are never work continuously and for long duration, they will leave the company after working 1 or 2 months tenure and if you make the Bonus Payment also it will not reach the concerned worker as they cannot be traced when they leave the organisation. Hence the companies never effect bonus payment for the Casual workers. But as a matter of fact the company contractors are supposed to effect payment to the casual workers also and those who had not received the bonus must be deposited with the Labour Commissioner Office at the end of the Financial year and in case the workman approaches the Labour office, the same bonus kept in the name will be released by the labour office after confirmation from concerned authorities.
From India, Kumbakonam
I wanted to ask my question with an example
Let say a labour joins on 15th of Oct with a pay of 10000 per month and he works for two months and leaves on 15th of December. Do I have to pay him bonus. If yes then how much I should pay him as bonus and how to calculate it?
Pl Clarify...
From India, Hyderabad
Let say a labour joins on 15th of Oct with a pay of 10000 per month and he works for two months and leaves on 15th of December. Do I have to pay him bonus. If yes then how much I should pay him as bonus and how to calculate it?
Pl Clarify...
From India, Hyderabad
Dear Ankurchi
Normally for Labour Force, we used to make Bonus calculation on prorata basis. i.e. Rs.3500/total No of working days X No of days worked during the month for Oct, Nov and Dec is the total Basic wages then find out 8.33%. Then you can make the entry in Form C (Bonus Register) and prepare a voucher accordingly and make the payment alongwith the Final Settlement. You can endorse with red ink in his service certificate issued to him as Bonus for the FY 2011-12 is paid on _______ date alongwith F&F Settlement.
From India, Kumbakonam
Normally for Labour Force, we used to make Bonus calculation on prorata basis. i.e. Rs.3500/total No of working days X No of days worked during the month for Oct, Nov and Dec is the total Basic wages then find out 8.33%. Then you can make the entry in Form C (Bonus Register) and prepare a voucher accordingly and make the payment alongwith the Final Settlement. You can endorse with red ink in his service certificate issued to him as Bonus for the FY 2011-12 is paid on _______ date alongwith F&F Settlement.
From India, Kumbakonam
Hi Sir,
I am having little bit doubt for the line mentioned by you that is"Minimum 8.33%(Rs.3500) and Maximum 20%(Rs.8400).
As it has been mentioned that bonus would be given in that case only when the employee salary is maximum of Rs.10000(Basic+HRA),but the slab would be taken as Rs.3500,means if the salary of the employee is 10000,in that case also his bonus would be calculated on Rs.3500,and minimum bonus would be 8.33% while the maximum would be 20% of Rs.3500.
I need to know what does the meaning of the point"Maximum 20%(Rs.8400),because if the bonus is given 20% then it would be 20% of 3500 that would be 700.
So I do request to all pls clarify this point.
Warm Regards,
Shweta Singh
From India, Hyderabad
I am having little bit doubt for the line mentioned by you that is"Minimum 8.33%(Rs.3500) and Maximum 20%(Rs.8400).
As it has been mentioned that bonus would be given in that case only when the employee salary is maximum of Rs.10000(Basic+HRA),but the slab would be taken as Rs.3500,means if the salary of the employee is 10000,in that case also his bonus would be calculated on Rs.3500,and minimum bonus would be 8.33% while the maximum would be 20% of Rs.3500.
I need to know what does the meaning of the point"Maximum 20%(Rs.8400),because if the bonus is given 20% then it would be 20% of 3500 that would be 700.
So I do request to all pls clarify this point.
Warm Regards,
Shweta Singh
From India, Hyderabad
Thanks a lot Sir,
Your reply clarified all my doubts. This will help me a lot.
But during calculation i got a bit confused.
I calculated it as follows
No of Working days - 53
No of days Worked - 50
The Labour's pay annually - Rs. 10000*12 = Rs. 120000/-
Then I got 8.33% of Rs. 120000 = Rs. 9996/-
On which again i did calculation - (9996/53)*50 = Rs. 9430/-
Is Rs. 9430/- will be his bonus??
Or
I shud calculate keeping minimum bonus only as follows
(3500/53)*50 = Rs. 3301
Which one is correct?
Please correct me wherever I am wrong.
From India, Hyderabad
Your reply clarified all my doubts. This will help me a lot.
But during calculation i got a bit confused.
I calculated it as follows
No of Working days - 53
No of days Worked - 50
The Labour's pay annually - Rs. 10000*12 = Rs. 120000/-
Then I got 8.33% of Rs. 120000 = Rs. 9996/-
On which again i did calculation - (9996/53)*50 = Rs. 9430/-
Is Rs. 9430/- will be his bonus??
Or
I shud calculate keeping minimum bonus only as follows
(3500/53)*50 = Rs. 3301
Which one is correct?
Please correct me wherever I am wrong.
From India, Hyderabad
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