Anonymous
1

Hi Guru,
Please let me know as per the Bonus Act employees drawing more than 10000/- Basic salary in a month (Senior Management level) was they were eligible to get Bonus or not?
If not, if they arise this query how best we can resolve this issue?

Please help me in this regard,
Thanks,
Chitrappa
Executive - HR

From India, Bangalore
boss2966
1166

Dear Friends I am enclosing the Latest amendment Bill passed on Payment of Bonus Act in 2010 for your reference and records.
From India, Kumbakonam
Attached Files (Download Requires Membership)
File Type: pdf Payment of Bonus Act (Amendment) 2010.pdf (630.5 KB, 1131 views)

vishal_setia24
2

whether this bill is passed or not
please explain with gazited notification
the document atached by our senior Mr S Bhaskar is the draft pending with the both house of parlyament.
please clarify at earliest so that the confusion is resolved
regards
vishal setia

From India, Faridabad
boss2966
1166

Dear Mr. Vishal As said by you, it is still in proposal stage only and we can expect soon for its implementation. With warm regards S. Bhaskar
From India, Kumbakonam
C S SHUKLA
The document attached by Mr. Bhasker is only Notification/Bill and it has not been passed so far. I would like to refer Press Note dated 29th OCt. 2007, issued by the Hob'ble President regarding enhancement of eligibility limit for payment of bonus from the salary or wage of Rs. 3500/- per month to Rs. 10,000/- per month. This Press Note is available in some other threads of Cite Hr.
In my opinion when Bill is passed, similar type of Press Note may also be released.

From India, Lucknow
vishal_setia24
2

Dear Jangir
i what context you want the maximum limit of bonus?
if for calculation then its Rs.3500/- per month and Minimum %age is 8.33% and Max is 20% as per the bonus act
for payout to employee maximum limit of salary is Rs.10000/-
Hopes this solves your quary.
regards
vishal setia

From India, Faridabad
R.N.Khola
363

Dear Prag,
Welcome to CiteHR
Plz find attached herewith the supporting document as required by you.
R.N.KHLOA|Sr.ASSOCIATE|LL&IR|
SKYLARK ASSOCIATES|GURGAON|HARYANA|
Labour Law Consultants|Mobile:9810405361|

From India, Delhi
Attached Files (Download Requires Membership)
File Type: pdf Payment-of-Bonus-Act-2007-Notification.pdf (316.2 KB, 929 views)

Parag Chawan
1

Mr. R N Khola,
Pls let me know which basic salary i.e Rs.10000/- or 3500/- is taken for calculation of Bonus
if the wage limit is 3500/- then 10000/- wage limit is considered for eligibilty of Bonus.
For 10000/- wage limit
suppose the basic salary is 8000
Bonus 8.33% = 8000*8.33% = 666
Ex Gratia on 8000 /- = 8000*20% - 8000*8.33%
= 1600 - 666
= 934/-
Regards
Parag

From India, Mumbai
kprasoon
173

Wage ceiling for bonus calculation is still 3500.
If basic salary is more than 3500, bonus should be calculated as mentioned below:
3500 x (no. of months employee has worked in that particular financial year) x 8.33% or above upto 20% = Actual bonus
regards,
Kamal

From India, Pune
Parag Chawan
1

Mr. Sinha,
Thanks for your help
Suppose the basic salary is 5400. Maximum percentage is 20
bonus = 3500*12*8.33%
= 3499
Can we also calculate the bonus on maximum 20% i.e
Bonus on 20% = 3500*12*20%
= 8400
Exgratia = (5400-3500) = 1900*12*20%
= 4560/-
Please let me know whether the above calculation is perfect.
Also let me know where i have to file bonus returns ( Form D) in Mumbai & what is Form C.
Regards
Parag chawan

From India, Mumbai
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.