Dear All
Is bonus payment compulsory to all the organisation.
If someone organisation not paid bonus to employees, in this regarding what action or penality should be imposed by the government according to the Payment of bonus act.
And in which base bonus should be calculated and how to calculate the amount of bonus.
pls send me calculation in excel sheet.....
Thanks and regards
Suresh Kumar Gupta
From India, Delhi
4Is bonus payment compulsory to all the organisation.
If someone organisation not paid bonus to employees, in this regarding what action or penality should be imposed by the government according to the Payment of bonus act.
And in which base bonus should be calculated and how to calculate the amount of bonus.
pls send me calculation in excel sheet.....
Thanks and regards
Suresh Kumar Gupta
From India, Delhi
Hi Suresh,
I do not know anything about bonus act. But as i am employee of company i will like to get bonus every year. Even though it is purely 8.33% on basic annual salary. For eg if your organization is paying 4250 Rs as basic salary to any employee than he is eligible to get 4250 Rs as a Bonus. Again this has to be mentioned in the CTC your organization issue to employee every year on their increment letter. If nothing is mentioned it is purely based on company performance and yes there is a tap to every thing in income-tax.
May be this might help you
From India, Pune
I do not know anything about bonus act. But as i am employee of company i will like to get bonus every year. Even though it is purely 8.33% on basic annual salary. For eg if your organization is paying 4250 Rs as basic salary to any employee than he is eligible to get 4250 Rs as a Bonus. Again this has to be mentioned in the CTC your organization issue to employee every year on their increment letter. If nothing is mentioned it is purely based on company performance and yes there is a tap to every thing in income-tax.
May be this might help you
From India, Pune
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Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc