Bonus limit enhanced
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Bonus limit enhanced

MITR_2008 Started The Discussion:

The ceiling for payment of bonus u/Bonus act has been enhanced from 3500 to 10000. What do you have to say about this ? Mitr_2008

salve.pradip - Member Since: Nov 2006
Pl give the details i.e.by which notification, date of enforcement etc. to update.

If you have such notification then pl post it on this site so that everybodys get such updated information.


Regards,

Pradip

Santosh Iyer - Member Since: Sep 2006
It was in the news about 2-3 months back, but nothing concrete has been approved. After proper approval process, notification would be issued. Then & then only we will have to think about it.

Santosh Iyer

Rajeev Nangia - Member Since: Jun 2007
Dear

The news has been published today (2nd Oct) in the newspapers. In winter season it would be put before parliament and then it would be further taekn.

Though the eligibility limit for covcergae has been enhanced to INR10,000/- (Basic +DA) but computation limit has been raised merely by INR1,000/- which is not right at all consdiering the fact that limit has been raised after 10 years.

Rajeev

priyadarshininaik - Member Since: Sep 2007
Dear all, I want to know who will come under bonus act and what exactly is the payment to be done to which section of employees. when and which establishment will come under Bonus Act. Rgds priya

raajz_johnny - Member Since: Dec 2006
Dear Priya,

Greetings!

Applicability of Payment of Bonus Act:
Every factory where in 10 or more persons are employed with the aid of power
or
An establishment in which 20 or more persons are employed without the aid of power on any day during an accounting year


Payment of Minimum Bonus
8.33% of the salary or Rs.100 (on completion of 5 years after 1st Accounting year even if there is no profit)


Rgds,

John N

sanjeev kwatra - Member Since: Jan 2008
Hi,
Can u pl. tell me,(1)whether five years are to be counted from the date of incorporation/set up or from the start of activtities. It would be appreciated if u pl. quote ref. for its evidence or name of the site.

(2)If the company run in profit from its beginning then from which year bonus is payable


Sanjeev Kwatra
sunilsanjeevhotmail.com

shwetanair.11 - Member Since: Jul 2009
Pls find attached notification for Bonus ammendment.


Attached FilesProvided by community member shwetanair.11. Join us to learn and grow with your peers.
File Type: pdf Bonus ammendment.pdf (313.7 KB, 170 views)
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