Thread Started by #Eshita Dhekne

Dear Seniors,
PLs help me in bonus policy,
wht bonus we offer to outsourced non sales staff espclly in pharma industry as iam working in....
your help would be really apprctd
looking for ur valuable information at the earliest for all seniors and folks.
Eshita
21st June 2012 From India
Dear eshita,
Refer to the payment of wages & bonus act the amendment-2010 which suggest that the rate of bonus payable shall be between 8.33% to 20% of basic pay (basic + Da),subjected to basic + da wage is upto Rs.10,000 PM who qualifies for such payment of bonus.Now while paying the bonus the maximum basic pay to be considered should be Rs.3500 or actual basic pay in case it is less than Rs.3500 PM and the rate of pay should be minimum @ 8.33% of the basic pay and this shall be paid to the employees latest by 31st October for the bonus paid for the previous year.Condition is that the concerned employee should have completed minimum of one month in the previous financial year.
note that statutory benefits like bonus do not differentiate between on rolls and outsourced employees.
21st June 2012 From India, Chandigarh
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