Dear Friends,
According to the recent amendment to the Payment of Bonus Act, the ceiling limit for payment of bonus was raised from Rs. 3500 to 10000.
Please tell me if this amount is Basic DA or Gross Salary.
Regards,
Sujith
From India, Bangalore
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2According to the recent amendment to the Payment of Bonus Act, the ceiling limit for payment of bonus was raised from Rs. 3500 to 10000.
Please tell me if this amount is Basic DA or Gross Salary.
Regards,
Sujith
From India, Bangalore
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Bonus is calculated on Basic + DA + Special pay. To be more specific, DA includes Fixed DA and Variable DA. regards, vijay
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Does it mean that an employee who gets more than 10000 as Basic salary is not eligible for Bonus payment?
From India, Coimbatore
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From India, Coimbatore
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Dear Sujit,
Amendments to the Bonus Act
Following are the amendments that will be taken into effect:
1. Employees drawing a gross salary not more than ₹15,000 per month will only be eligible for a bonus according to this new amendment in the Bonus Act (currently it is ₹10,000).
2. The ceiling from ₹3,500 has been changed to ₹5,000, and it refers to the basic salary, not the gross salary.
3. The bonus will be calculated at a rate of 11% of the Basic up to ₹5,000, i.e., the maximum amount will be ₹550 per month (currently it is 8.33% on basic up to ₹3,500 with the maximum amount being ₹292).
Regards,
From India, New Delhi
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Amendments to the Bonus Act
Following are the amendments that will be taken into effect:
1. Employees drawing a gross salary not more than ₹15,000 per month will only be eligible for a bonus according to this new amendment in the Bonus Act (currently it is ₹10,000).
2. The ceiling from ₹3,500 has been changed to ₹5,000, and it refers to the basic salary, not the gross salary.
3. The bonus will be calculated at a rate of 11% of the Basic up to ₹5,000, i.e., the maximum amount will be ₹550 per month (currently it is 8.33% on basic up to ₹3,500 with the maximum amount being ₹292).
Regards,
From India, New Delhi
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Till date there is no Amendment in Payment of Bonus......... Its just the Bill is introduce to raise the ceiling to rs. 15K but still is not been amended... reg vikram
From India, Ahmadabad
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From India, Ahmadabad
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dear sir, kindly provide notification in supporting of above celling limit of bonus and 11% as minimum bonus. with regards, Ankita Vashi
From India, Indore
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From India, Indore
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The bonus must be calculated on Rs. 3500 per month. The minimum bonus payable is only 8.33%, and the maximum bonus payable is 20%. Whatever was mentioned by Jagjit is still under the proposal stage and has not yet been approved by the government.
Thank you.
From India, Kumbakonam
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Thank you.
From India, Kumbakonam
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THE PAYMENT OF BONUS ACT(with amendments & comments) 1965.docx
Amendment to Payment of Bonus Act 2015.jpg
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf