supreme_1974 Started The Discussion:
pls let me know the ceiling limit for payment of bonus at present. is it still 3500/- or enhanced to 5000/-
No. The Bonus salary Ceiling limit is still Rs.3500/- per month. If we calculate the Bonus as per the ceiling salary then in case of 8.33% (Minimum Bonus to be paid) then Rs.3499/- and for 20% (Maximum Bonus can be paid) then Rs.8400/- only.
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There has been no change in the ceiling for payment of Statutory Bonus. It continues to be Rs 3,500/-.
Dear Supreme_1974 & Dbalaji3,
Statutory Bonus is mainly concerned for workmen category, who comes under Contract Labour Act / minimum wages Act. You please dont compare your salary for Bonus. Salary of the minimum wages workmen is comparatively low and Rs. 3,500/- is good amount for them. Earlier, Bonus applicable to the employees whose basic was Rs. 3,500/-, however, it has been enhanced to Rs. 10,000/- in the year 2007 for covering more employees (enenthough the ceiling limit is 3,500/-)
Computation of bonus should be worked out as per schedule I to IV of the Act. Every person drawing salary between Rs3500/- and Rs10,000/- per month. The bonus payable to him is to be calculated as if his salar were Rs3500/- p.m.
Till date there is not any enanchement to Rs 5000/-pm.
Thanks & Regards
V K Sharma
Can any body clarify why deduction for ESIC is Gross Amt 15000/-. We are having so many labour working under contractor getting more than 15000/- per month. There should not be any limit for working under contractor and ESIC means medical benifit for labour. Can any body elaborate more on this.
Dept of Accounts
TPL, RSP, Rourkela
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