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Dear Sir, can you tell me how much sealing of the bonus and what is minimum limit for the employer which are payable to employee in a one year working period.
From India, Gurgaon
Dear Raju as per Bonus Act- Employee earning up to 10k pm are entitled for bonus. Calculation to be made on salary 3500/- per month. minimum limit-8.33% maximum limit-20%
From India, Delhi
1. The Act enables the employees to get a minimum bonus equivalent to one month's salary or wages (8.33% of annual earnings) whether the employer makes any profit or not. But the Act also puts a ceiling on the bonus and the maximum bonus payable under the Act is equivalent to about 2 1/2 months' salary or wage (20% of annual earnings).
2. It is to be noted that employees drawing salary or wage exceeding Rs. 10000.00 per month are not entitled to get any bonus under the Act. (w.e.f. 1 April 2006)
3. An employee will be entitled only when he has worked for 30 working days in that year. {Section 8}

From India, Chennai

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