Bonus [Thread 258374] - CiteHR
12137
Personnel/hr/admin
+1 Other

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MY Salary is more than 10000 per Month whether iam eligible for bonus or not?
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What is ur basic salary? if ur basic salary is >10000 ur not elgible under Bonus act Warm Regards Satya
Dear Member,

As per the Payment of Bonus Act, 1965 the defination for Salary of Wages is as follows:

"salary or wage" means all remuneration (other than remuneration in respect of over-time work) capable of being expressed in terms of money, which would, if the terms of employment, express or implied, were fulfilled, be payable to an employee in respect of his employment or of work done in such employment and includes dearness allowance (that is to say, all cash payments, by whatever name called, paid to an employee on account of a rise in the cost of living), but does not include-
(i) any other allowance which the employee is for the time being entitled to;
(ii) the value of any house accommodation or of supply of light, water, medical attendance or other amenity or of any service or of any concessional supply of food grains or other articles;
(iii) any travelling concession;
(iv) any bonus (including incentive, production and attendance bonus);
(v) any contribution paid or payable by the employer to any pension fund or provident fund or for the benefit of the employee under any law for the being in force;
(vi) any retrenchment compensation or any gratuity or other retirement benefit payable to the employee or any ex gratia payment made to him;
(vii) any commission payable to the employee.

Normally the companies are calculating Basic, DA and VDA for computing the Bonus. If the above component is > 10000 you are not eligible for bonus.

R.Eagambaram
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