in your query you had not mention what is your basic and other allowance. but as per provision of bonus act if you are getting less than or Rs-10,000 (Basic) as a salary and if you had worked 30 days in a account year you will be entitled for bonus and bonus will be calculated on less then or Rs-3500/- PM (sec 12) @ rate of minimum 8.33% (sec.10)and maximum 20%(sec.11).the % depends on the allocable surplus of the company but one employer will have to pay 8.33% as a mandatory even if he is not earning profit. There is also a provision that for a new company the act have given a relaxation of 5 years but if during the year the company is earning profit then the company will have to pay bonus for the particular year (sec.16).
I hope I am able to clear the position under the payment of bonus act.
2nd October 2011 From India, Thana
#AnonymousHai, As per the Bonus Act any employee completes 30 days of service at the time of declaring bonus would be eligible for Bonus. Even resigned employee would be eligible. Ksk.
2nd October 2011 From India, Hyderabad
An employee who had worked in the establishment for thirty days during the accounting year to which the bonus relates is entitled to get bonus. It is not correct to say that any employee who completes 30 days of service at the time of declaring bonus would be eligible for bonus. If the accounting year is from 1-4-2010 to 31-3-2011 and if the establishment declares bonus for the accounting year 1-4-2010 to 31-3-2011, on 1-10-2011 then an employee who had joined the establishment on 1-8-2011 and is in the employment of the establishment as on 1-10-2011 is not entitled to get bonus as he has not worked for thirty days in the accounting year 1-4-2010 to 31-3-2011. Please read section 8 of the Payment of Bonus Act
2nd October 2011 From India, Madras
With the promulgations of this Ordinance, the salary ceiling has been increased to Rs.10, 000/- P.M. The entitlement for calculation of Bonus will be Rs. 3,500/-P.M. Effective from 01/04/2006. The current celling of 3500/- for bonus was fixed in April 1995. The bonus celling had been fixed at 1600/- in 1965 which was raised to 2500/- in 1985 and 3500/- in 1995 by ameding section 2 (13) of the payment of bonus act.
Those employed through contractor on building operation have now been covered under the Payment of Bonus Act.
Though the cover is for employees earning basic and DA up to 10,000/-, you should restrict their basic and DA to Rs.3, 500/- p.m. or actual basic and DA for the month whichever is lower, for bonus computation.
An employee should be in service for minimum 30 days during the previous financial year. Payments should be made before the expiry of 8 months from the start of a FY i.e. before end of NOV.
The statutory rate of bonus is: Minimum 8.33% on basic and DA for the year. Maximum basic and DA cannot exceed 42,000/- p.a. (3500 x 12) for bonus computation.
All the best
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3rd October 2011 From India, Vijayawada
My Basic Salary is under 10000/- and i am getting HRA 3930/- per month along with my Salary. My query about the payment of bonus. last year (2010-2011) i have attend my office above of 300 days in last year (2010-2011) but not 365 days and the my bonus amount is 3021/- for the last year 2010-2011. Please tell me the amount of my accurate bonus for the last (2010-2011) and tell me the what is the my bonus amount for the last year. I thought the amount which is given by me in this massage is not accurate amount for the last bonus. Please tell me about this query.
Thanks & regards
3rd October 2011 From India, Delhi
Wages for the purposes of bonus under the Payment of Bonus Act comprises of basic pay and dearness allowance only. Other components of wages are not reckoned for calculating bonus. If the basic plus dearness allowance of an employee crosses Rs.10000/- per month he is not eligible to get bonus under the Payment of Bonus Act
4th October 2011 From India, Madras