Dear All,
I am working in an Automobile dealership and I have to insert a Bonus policy in our HR policy manual. Can any one forward me the latest bonus policy for my organization.Its urgent.
Thanks & Regards,
Shraddha Shukla
From India, Gurgaon
1I am working in an Automobile dealership and I have to insert a Bonus policy in our HR policy manual. Can any one forward me the latest bonus policy for my organization.Its urgent.
Thanks & Regards,
Shraddha Shukla
From India, Gurgaon
1. It depends upon the percentage on which, company wants to give bonus to its employees. Minimum bonus is 8.33% of basic salary earned during the accounting year and Maximum is 20% under the payment of Bonus Act, 1965.
2. Eligibility: Bonus under Payment of Bonus Act, 1965 is required to be to employees whose salary ( Basic) is of less than Rs.3500.00 per month during the accounting year for which bonus is to be paid.
3. Bonus is to be calculated for eligible employees assuming salary (Basic) as Rs.2500.00 per month or less, if, it is less then Rs.2500.00
with Regards,
Dipak
2. Eligibility: Bonus under Payment of Bonus Act, 1965 is required to be to employees whose salary ( Basic) is of less than Rs.3500.00 per month during the accounting year for which bonus is to be paid.
3. Bonus is to be calculated for eligible employees assuming salary (Basic) as Rs.2500.00 per month or less, if, it is less then Rs.2500.00
with Regards,
Dipak
Dear Dipak
Please note that there are some amendements which are done in the Payment of bonus act. The amendments in various sections are as below:
i) Amendment to Section 2(13): To raise the eligibility limit for payment of bonus from the salary or wage of Rs.3500/- to Rs.10,000 per month.
ii) Amendment to section 12: To raise the ceiling for calculation purpose from the salary or wage of Rs.2500/- to Rs.3500/- per month, and;
iii) Deletion of section 32(vi): To cover the employees employed through contractors on building operations
Hope this will be helpful to you.
Regards
Hitesh
From India, New Delhi
Please note that there are some amendements which are done in the Payment of bonus act. The amendments in various sections are as below:
i) Amendment to Section 2(13): To raise the eligibility limit for payment of bonus from the salary or wage of Rs.3500/- to Rs.10,000 per month.
ii) Amendment to section 12: To raise the ceiling for calculation purpose from the salary or wage of Rs.2500/- to Rs.3500/- per month, and;
iii) Deletion of section 32(vi): To cover the employees employed through contractors on building operations
Hope this will be helpful to you.
Regards
Hitesh
From India, New Delhi
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