"In accordance with the company's bonus policy, if a worker's basic salary plus Dearness Allowance (DA) amounts to less than 21,000 rupees, but when including House Rent Allowance (HRA) and other allowances, the total exceeds 21,000 rupees, is the worker eligible for a bonus? If so, what percentage of bonus payment does the company intend to allocate to such eligible workers?"
From India, New Delhi
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From India, New Delhi
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Hi,
Bonus is an entitlement under prescribed conditions as per the Payment of Bonus Act, 1965. The calculation of the bonus payable is determined by a specific formula and guidelines outlined in the Payment of Bonus Act. Companies are obligated to disburse bonuses according to the provided formula. The minimum bonus is 8.33%, and the maximum is 20% of the bonus fund calculated for the particular financial year.
Regards,
RDS Yadav
Director,
Future Institute of Engineering and Management Technology, Bareilly
and
Labour Laws Adviser
NAVTARANG HR SERVICES
WA-09634532026
From India, New Delhi
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4Bonus is an entitlement under prescribed conditions as per the Payment of Bonus Act, 1965. The calculation of the bonus payable is determined by a specific formula and guidelines outlined in the Payment of Bonus Act. Companies are obligated to disburse bonuses according to the provided formula. The minimum bonus is 8.33%, and the maximum is 20% of the bonus fund calculated for the particular financial year.
Regards,
RDS Yadav
Director,
Future Institute of Engineering and Management Technology, Bareilly
and
Labour Laws Adviser
NAVTARANG HR SERVICES
WA-09634532026
From India, New Delhi
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