Hi this is paul,i worked in producton company as team leader from dec-2009 and resigned there in april 2012 . Am i eligable for the bonus of 2011-2012 . Please help. Thank u paul
From India, Nagpur
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From India, Nagpur
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You are eligible to receive the bonus from your previous company for the FY 2011-12, i.e., for the period from 01 Apr 2011 to 31 Mar 2012. Please approach your office before 30 Nov 2012 to claim the same.
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From India, Kumbakonam
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1189Regards
From India, Kumbakonam
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You have not mentioned your salary. Please note, if your salary is within the permissible limit, you are eligible for a bonus.
Eligibility for Bonus
As per the provisions of the Bonus Act, if you are earning less than Rs 10,000 (Basic) as salary and have worked for 30 days in an accounting year, you will be entitled to a bonus. The bonus will be calculated on less than or Rs 3,500/- per month (section 12) at a rate of a minimum of 8.33% (section 10) and a maximum of 20% (section 11). The percentage depends on the allocable surplus of the company, but an employer will have to pay a minimum of 8.33% even if the company is not making a profit.
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Sandip Saha
[Email Removed For Privacy Reasons]
From India, Kolkata
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Eligibility for Bonus
As per the provisions of the Bonus Act, if you are earning less than Rs 10,000 (Basic) as salary and have worked for 30 days in an accounting year, you will be entitled to a bonus. The bonus will be calculated on less than or Rs 3,500/- per month (section 12) at a rate of a minimum of 8.33% (section 10) and a maximum of 20% (section 11). The percentage depends on the allocable surplus of the company, but an employer will have to pay a minimum of 8.33% even if the company is not making a profit.
Regards,
Sandip Saha
[Email Removed For Privacy Reasons]
From India, Kolkata
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Dear paul, yes u r eligible for the bonus for the periods 2011-2012 with warm regards rao vikas
From India, Delhi
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From India, Delhi
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If you're getting a monthly salary of Rs. 10,000/- (Basic) and have rendered 30 working days of service in the last financial year 2011-12, then you will be eligible for a yearly bonus amounting to a minimum of 8.33% of your salary, subject to the statutory provisions of the Bonus Act.
Regards,
R B Yadav
Advocate
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From India, Gurugram
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Regards,
R B Yadav
Advocate
[Email Removed For Privacy Reasons]
From India, Gurugram
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Dear Mr. Paul, You have not mentioned your salary. Please note, if your salary is within the permissible limit, you are eligible for a bonus.
Bonus Eligibility Criteria
As per the provisions of the bonus act, if you are receiving less than Rs. 10,000 (Basic) as salary and have worked 30 days in an accounting year, you will be entitled to a bonus. The bonus will be calculated on less than Rs. 3,500/- PM (sec 12) at a rate of a minimum of 8.33% (sec.10) and a maximum of 20% (sec.11). The percentage depends on the allocable surplus of the company, but an employer will have to pay a mandatory 8.33% even if the company is not making a profit.
With Regards, Sandip Saha [Email Removed For Privacy Reasons]
Hi Sandip, Just would like to know two more things:
1. What if the company voluntarily pays a bonus @ 8.33% to all employees, whether the Basic is above or below Rs. 10,000/-?
2. Is the Bonus paid on ACTUAL basic earned (i.e., if the basic is 5000/- then on 5000/- or if the basic is 12000/- then on 12000/-)? Are we violating the law? Or is paying a bonus to employees with basic below or above 10000/- on actual basic earned voluntary until we are not violating the law, i.e., bonus @ 8.33% on below or Rs. 3,500/-?
Your response will be appreciated.
From India, Ahmedabad
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Bonus Eligibility Criteria
As per the provisions of the bonus act, if you are receiving less than Rs. 10,000 (Basic) as salary and have worked 30 days in an accounting year, you will be entitled to a bonus. The bonus will be calculated on less than Rs. 3,500/- PM (sec 12) at a rate of a minimum of 8.33% (sec.10) and a maximum of 20% (sec.11). The percentage depends on the allocable surplus of the company, but an employer will have to pay a mandatory 8.33% even if the company is not making a profit.
With Regards, Sandip Saha [Email Removed For Privacy Reasons]
Hi Sandip, Just would like to know two more things:
1. What if the company voluntarily pays a bonus @ 8.33% to all employees, whether the Basic is above or below Rs. 10,000/-?
2. Is the Bonus paid on ACTUAL basic earned (i.e., if the basic is 5000/- then on 5000/- or if the basic is 12000/- then on 12000/-)? Are we violating the law? Or is paying a bonus to employees with basic below or above 10000/- on actual basic earned voluntary until we are not violating the law, i.e., bonus @ 8.33% on below or Rs. 3,500/-?
Your response will be appreciated.
From India, Ahmedabad
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