the minimum bonus is 8.33% maximum is 20% as per bonus act but my employer want to distribute 15% bonus On which conditions we can make it applicable . Regards Minakshi
From India, Delhi
5From India, Delhi
Dear Minakshi,
It is totally employer discretion that what should be the percentage of Bonus.
Bonus can fluctuate from minimum 8.33% to maximum 20%.
Hence employer can disburse it ranging from 8.33 % to 20% .
Regards
Arpit Jain
From India, Delhi
It is totally employer discretion that what should be the percentage of Bonus.
Bonus can fluctuate from minimum 8.33% to maximum 20%.
Hence employer can disburse it ranging from 8.33 % to 20% .
Regards
Arpit Jain
From India, Delhi
Thanks To Arpit & Suresh for reply. 1) But how percentage of bonus is connected to profit. 2) If the company is under loss,Is company still bound to pay bonus. Regards Minakshi
From India, Delhi
From India, Delhi
sir ... I have a doubt regarding bonus ... whether the Gross salary will be taken for bonus (or) Basic+da ?
From India, Coimbatore
From India, Coimbatore
Bonus is 8.33 % of the salary i.e. basic salary of the employee. This is known as statutory bonus. Some companies put the same while drafting CTC also. Chill HR
From India, Gurgaon
From India, Gurgaon
Dear Minakshi
I am giving bonus to 500 employees (include workers also) 8.33% on earned salary (as per their attendance - without any deductions). It will disburse one week before Diwali.
Regards
Mohan Nair
From India, Mumbai
I am giving bonus to 500 employees (include workers also) 8.33% on earned salary (as per their attendance - without any deductions). It will disburse one week before Diwali.
Regards
Mohan Nair
From India, Mumbai
Dear Meenakshi,
If company is in loss, then as per the bonus act, there is facility of set off & set On.
Minimum bonus payable for this year can be carried forward to the next year (Maximum upto three years).
From India, Pune
If company is in loss, then as per the bonus act, there is facility of set off & set On.
Minimum bonus payable for this year can be carried forward to the next year (Maximum upto three years).
From India, Pune
Dear Madam,
Even if your company is in loss, the bonus will be decided by the management depends on the union demand if any. After negotiation with trade unions they will fix the bonus percentage. 8.33% is to be paid as bonus. The excess amount if any will be treated as ex-gratia. And the bonus is calculated on Basic+DA
regds,
S.GANAPATHY
From India, Coimbatore
Even if your company is in loss, the bonus will be decided by the management depends on the union demand if any. After negotiation with trade unions they will fix the bonus percentage. 8.33% is to be paid as bonus. The excess amount if any will be treated as ex-gratia. And the bonus is calculated on Basic+DA
regds,
S.GANAPATHY
From India, Coimbatore
You can distribute the bonus among employees as per companies profitability..we can distribute bonus between 8.33 to 20 % .. In this range we can play as per our co's profitability.. as per act bonus is payable on basic + DA ..... Normally Bonus is payable after the final accounts has been prepared.. bonus normally not given at time of Diwali..
Kind Regards
Bhargavi Solanki - HR
If you have any query or suggestions, please do revert back.
From India, Ahmadabad
Kind Regards
Bhargavi Solanki - HR
If you have any query or suggestions, please do revert back.
From India, Ahmadabad
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.
Statistics on violations Minimum Wages-Bonus Act.doc
Amendment to Payment of Bonus Act 2015.jpg
Delhi - Minimum Wages w.e.f. 01.10.2012 (1).pdf