gjoshi
3

Dear all
We are in process for the payment of Bonus for the FY 2005- 06, i would like to know that does recent announcement in bonus act applicable to us in case when we are making payment for bonus for FY 2005 - 06 ?
requesting you all to share your view and help in concluding the Bonus Payment.
Looking forward for your support
Gaurang

From India, Vadodara
samvedan
315

Hello,

Is there a slip up?

You would have paid Bonus for the FY 2005-2006 by end November 2006.

You should now be worried whether the likely amendment to the Payment of Bonus Act will be applicable for Bonus payable in respect of FY 2006-2007 which is due latest by end November 2007

Having said that, kindly note the following.

1) What we have have today is "news" and NOT an amendment.

2) The November session of the parliament is expecting to actually amend the act. If that does not happen for any reason whatsoever, then the government may promulgate an "ordinance" to bring the intended amends in operation and the amendement of the act may follow in due time thereafter.

3) Howsoever, whether the "amendment" or the "ordinance" the following points need to be clearly stated.

a) The Effective Date:

b) The coverage limit: (in place of present Rs. 3500/- B+DA will it go to Rs. 10000/- or any other figure.)

c) What will be the figure corresponding to present Rs. 2500/- as the maximum amount of B+DA on which Bonus will need to be paid.

d) Whether the "minimum" and "maximum" limits to Bonus will be revised!

e) Any other matter the government may be contemplating to tinker with-especially keeping in view the proximity to general election even if the government completes the full term.

Unless the gazzette notification is available, an opinion will amount to hazarding a GUESS!

Kindly be patient and act ONLY after the amendment becomes a legal REALITY!!!!

Regards

samvedan

October 15, 2007

From India, Pune
p.selva
1

my worker gross salary is rs.3000/ and basic is 1800/ (60% of gross).Now after notification of amendment whether i suould calculate bonous on Rs.1800 *8.33 or rs.3500*8.33

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.