If anyone has Govt. circular on Bonus amandment for Minimum percentage (11%), Salary limit and Minimum Amount, pls do share me. Thank you!
From India, Ahmadabad
Acknowledge(0)
Amend(0)
85From India, Ahmadabad
Acknowledge(0)Amend(0)
Dear Bhardwaj,
For the bonus:
Minimum percentage: 8.33% of basic (Basic + DA if DA is paid to the employee).
An employee whose basic salary is up to Rs. 10,000 is eligible for a bonus.
For any further clarification, feel free to write or discuss.
From India, Mumbai
Acknowledge(0)Amend(0)
For the bonus:
Minimum percentage: 8.33% of basic (Basic + DA if DA is paid to the employee).
An employee whose basic salary is up to Rs. 10,000 is eligible for a bonus.
For any further clarification, feel free to write or discuss.
From India, Mumbai
Acknowledge(0)Amend(0)
Hi You may go through this attachment and get clear. Regards. Ashwin.
From India, Pune
Acknowledge(0)Amend(0)
From India, Pune
Acknowledge(0)Amend(0)
I have put this discussion because, I show a PDF of same Bill of yr.2010 so If the amendment(s) has made, and have pdf, do share.
From India, Ahmadabad
Acknowledge(0)Amend(0)
From India, Ahmadabad
Acknowledge(0)Amend(0)
Dear Bharadwaj,
For more information, you can refer to the following link: https://www.citehr.com/51955-amendme...ct-1965-a.html
From India, Visakhapatnam
Acknowledge(0)Amend(0)
For more information, you can refer to the following link: https://www.citehr.com/51955-amendme...ct-1965-a.html
From India, Visakhapatnam
Acknowledge(0)Amend(0)
It's already been shared on this site, I believe you may use the search option to get those amendments. For more accurate details, refer to the Ministry of Finance website and the pay commission.
From India, Bangalore
Acknowledge(0)Amend(0)
From India, Bangalore
Acknowledge(0)Amend(0)
Dear All,
Does the amendment of 2007 mean that employees getting salary+DA below Rs. 10,000/- are not eligible for a bonus? Also, kindly explain the meaning of:
""
ii) Amendment to section 12: To raise the ceiling for calculation purposes from the salary or wage of Rs. 2500/- to Rs. 3500/- per month, and;
""
Thanks very much in advance.
From India, Coimbatore
Acknowledge(0)Amend(0)
Does the amendment of 2007 mean that employees getting salary+DA below Rs. 10,000/- are not eligible for a bonus? Also, kindly explain the meaning of:
""
ii) Amendment to section 12: To raise the ceiling for calculation purposes from the salary or wage of Rs. 2500/- to Rs. 3500/- per month, and;
""
Thanks very much in advance.
From India, Coimbatore
Acknowledge(0)Amend(0)
Amendment to the Payment of Bonus Act, 1965
The Cabinet in its meeting held on October 1, 2007 has approved the Amendments to the Payment of Bonus Act, 1965, which are as follows:-
i) Amendment to Section 2(13): To raise the eligibility limit for the payment of bonus from the salary or wage of Rs.3500/- to Rs.10,000 per month.
That means Section 2 clause (13) of the Bonus Act, which prescribes the limit of wage or salary, has undergone the required changes. Before, whoever used to get up to Rs. 3500 pm wage or salary was eligible for a bonus, now it is increased to Rs. 10,000/- pm from Rs. 3500/- (the maximum limit is Rs. 10,000/- pm and the minimum shall be paid on Rs. 3500/-, whatever the salary or wage may be.
ii) Amendment to section 12: To raise the ceiling for calculation purposes from the salary or wage of Rs.2500/- to Rs.3500/- per month, and;
This means, whatever the lesser amount you get, the minimum of Rs. 3500/- pm will be taken into consideration to pay the bonus. In the sense, your bonus will be calculated on a minimum of Rs. 3500/- basic pay... (here your bonus will be on your salary of say Rs. 2000/-pm, you are supposed to get Rs. 20 as a bonus, and since the bonus shall be calculated on Rs. 3500/- (minimum), extra bonus on 1500/- will be paid. That is Rs. 15, so your bonus will be Rs. 35 minimum, calculated on Rs. 3500/-pm)
iii) Deletion of section 32(vi): To cover the employees employed through contractors on building operations.
This means Section 32 clause (vi) no longer exists in The Bonus Act.
From India, Bangalore
Acknowledge(0)Amend(0)
The Cabinet in its meeting held on October 1, 2007 has approved the Amendments to the Payment of Bonus Act, 1965, which are as follows:-
i) Amendment to Section 2(13): To raise the eligibility limit for the payment of bonus from the salary or wage of Rs.3500/- to Rs.10,000 per month.
That means Section 2 clause (13) of the Bonus Act, which prescribes the limit of wage or salary, has undergone the required changes. Before, whoever used to get up to Rs. 3500 pm wage or salary was eligible for a bonus, now it is increased to Rs. 10,000/- pm from Rs. 3500/- (the maximum limit is Rs. 10,000/- pm and the minimum shall be paid on Rs. 3500/-, whatever the salary or wage may be.
ii) Amendment to section 12: To raise the ceiling for calculation purposes from the salary or wage of Rs.2500/- to Rs.3500/- per month, and;
This means, whatever the lesser amount you get, the minimum of Rs. 3500/- pm will be taken into consideration to pay the bonus. In the sense, your bonus will be calculated on a minimum of Rs. 3500/- basic pay... (here your bonus will be on your salary of say Rs. 2000/-pm, you are supposed to get Rs. 20 as a bonus, and since the bonus shall be calculated on Rs. 3500/- (minimum), extra bonus on 1500/- will be paid. That is Rs. 15, so your bonus will be Rs. 35 minimum, calculated on Rs. 3500/-pm)
iii) Deletion of section 32(vi): To cover the employees employed through contractors on building operations.
This means Section 32 clause (vi) no longer exists in The Bonus Act.
From India, Bangalore
Acknowledge(0)Amend(0)Engage with peers to discuss and resolve work and business challenges collaboratively - share and document your knowledge. Our AI-powered platform, features real-time fact-checking, peer reviews, and an extensive historical knowledge base. - Join & Be Part Of Our Community.
Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf
Bonus-amendment _206.doc