Dear Seniors, As per Bonus act, if we have surplus of Rs. 10,00,000 then how much amount we should keep it for Bonus. I think it is 50%, but don\'t have valid document. Kindly suggest.
From India, Bangalore
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131From India, Bangalore
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Are you maintaining Form A & Form B as per Payment of Bonus Act, if yes and Rs. 10 Lakh remained as Suplus then you can pay 20% as Statutory Bonus & rest you can keep for future arrangement.
From India, Pune
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From India, Pune
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Your management should decide on the amount of bonus to be given to your employees between 8.33% (statutory minimum bonus) and 20% (statutory maximum bonus) up to a limit of Rs. 3,500/- for employees receiving a maximum salary of Rs. 10,000/- (Basic).
Regards,
Srinivas
From India, Hyderabad
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Regards,
Srinivas
From India, Hyderabad
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Dear Praveen,
I understand that you have an available surplus of Rs. 10,00,000/- in your kitty. Out of this, you may keep 60% of the available surplus as allocable surplus for your bonus purpose, i.e., you can utilize or set aside Rs. 6,00,000/- for the purpose of bonus as per Schedule IV of The Payment of Bonus Act, 1965.
Based on this, you may calculate the bonus for your employees, whether to pay a minimum bonus of 8.33% or a maximum bonus of 20%. Please remember that you may have to pay the minimum bonus even if your allocable surplus falls below the actual bonus payment for your employees, if you are not in the infancy period.
I am enclosing the presentation on The Payment of Bonus Act, 1965 for the information of all readers. I am also enclosing the Fourth Schedule and an extract of The PoB Act, 1965.
Regards,
P. Vathiraj Associate Operations Manager Aparajitha Corporate Services Limited
From India
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I understand that you have an available surplus of Rs. 10,00,000/- in your kitty. Out of this, you may keep 60% of the available surplus as allocable surplus for your bonus purpose, i.e., you can utilize or set aside Rs. 6,00,000/- for the purpose of bonus as per Schedule IV of The Payment of Bonus Act, 1965.
Based on this, you may calculate the bonus for your employees, whether to pay a minimum bonus of 8.33% or a maximum bonus of 20%. Please remember that you may have to pay the minimum bonus even if your allocable surplus falls below the actual bonus payment for your employees, if you are not in the infancy period.
I am enclosing the presentation on The Payment of Bonus Act, 1965 for the information of all readers. I am also enclosing the Fourth Schedule and an extract of The PoB Act, 1965.
Regards,
P. Vathiraj Associate Operations Manager Aparajitha Corporate Services Limited
From India
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