No Tags Found!


kscc
dear seniors,
one of my production employee is demanding 11% bonus of his gross salary for the period 2009-10. his gross salary is rs.14500/-.
but mgt is not agree to pay him on this rate. mgt is saying that pay him only rs.3500/-. employee is saying that there is changes in the criteria of payment of bonus. i also know. but mgt is not agree.
now what i have to do.
waiting for u reply
regards
kscc

From India, New Delhi
abbasiti
517

Dear KSCC, Management is right in this regard. The minimum bonus is still 8.33%. Salary for bonus coverage continues as Rs. 10,000 and for bonus calculation as Rs. 3,500. Abbas.P.S
From India, Bangalore
kscc
dear abbas, pls go through the attachment and make it clear please. regards kscc
From India, New Delhi
Attached Files (Download Requires Membership)
File Type: pdf Payment of Bonus Act Amendment[2010].pdf (629.9 KB, 6012 views)

ashutoshnp
Dear KSCC/Abbas, According to the file attached, Salary for bonus coverage continues as Rs. 10,000 but the minimum bonus has been increased to 11% from 8.33%.
From India, Gurgaon
R.N.Khola
363

Dear Kscc, We are not to take any action on this bill. R.N.Khola
From India, Delhi
abbasiti
517

Dear KSCC & Ashutosh,
It is only a proposal but didn't get enacted. Kindly note the terms used "Be it enacted in Parliament.........", means it is not enacted.
As per the existing Bonus Act the minimum is still 8.33%, salary for coverage is Rs. 10,000 and salary for calculation is Rs. 3,500.
Abbas.P.S

From India, Bangalore
sunilcms
1

Yes new bill is not yet approved , it is just draft praposal so 3500 maximum bonus is correct
From India, Pune
ramachandrak62
8

Dear KSCC & all
1. The Bonus payable is on the basic and not on gross salary
2. If the basic is not separated from the gross salary, then you have to take gross salary for computation of bonus
3. % of bonus payable continues to be 8.33% only and no amendment has taken place yet
4. the maximum salary limit for bonus eligibility is Rs.10,000/-.
5. If you are taking his salary of Rs.14500/- as bonusable salary (i.e. gross salary), he is not eligible for bonus
6. If you have separated his basic and if it is Rs.10,000 and below, you can pay bonus @ 8.33%
7. Nobody can either deny or pay the bonus as this is statutory. So just follow the above guidelines as per the Bonus Act and comply.
Hope the matter is clear.
Regards
K.Ramachandra
Bangalore


pratik.vaidya
The new amendment of Bonus Act like in Mid January 2011 to end of February 2011. Please continue paying bonus at the existing rates. Also the w.e.f. would be 01.04.2010 - 31.03.2011 (most probably).
Hope that this winter session of parliament has place for Bonus amendment as already over burdened with scams!!
Pratik Vaidya
Karma Management Consultants

From India, Mumbai
raopvs
2

Dear KSCC yes i too agree with Mr. Abbas. As per the act we have to calculate on Rs. 3500/- only VENKAR HR Manager
From India, Hyderabad
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.






Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.