You should not submit said information to govt officials as the maximum bonus payable to employees of any company under the payment of bonus act should not be more than 20%. However, you can show excess amount over and above to 20% as an exgratia and show it in your accounts books separately. Bonus and Exgratia could not be clubbed together. Generally, in any organisation, employees who are not eligible for bonus under the act, management may consider to pay exgratia to such employees on par with workers or staff who are eligible for bonus under the act. Some important provisions of bonus act
1. Eligibility - 30 actual working days in previous financial year
2. Wage or salary(Basic) should not exceed more than Rs 10000/-
3. Wage ceiling for bonus calculation is Rs 3500/-
4. Employees whose wage exceeds Rs 3500/- in between Rs 10000/- should also be paid as if their salary for calculation of bonus is only Rs 3500/-
6th November 2014 From India, Hyderabad
Thank you so much. It is really help full. Now i have just one query that if we have to calculate on 3500/- only than in form c there is a coloum 8 called "Amt. of bonuspayable under section 10 or Section 11 as the case may be Ex-gratia
Now for example if one employee's salary is 6500 we have paid (6500*25%)
so in form c coloumn 8 do we have to mention 1625??
Please suggest its really confusing.
Nupur Patel (Pooja Patel )
8th November 2014 From India, Valsad