My query regarding Payment of Bonus. As per new amendment ceiling for Bonus payment increased up to Rs.21000/-. My query is, is there any restrictions if employer wants to pay Bonus to employees getting more than the new ceiling also, as per the act ?
Or any other way to pay bonus to those who are getting more pay ? Pl clarify ... thanks.,
From India, Ahmedabad
Or any other way to pay bonus to those who are getting more pay ? Pl clarify ... thanks.,
From India, Ahmedabad
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
+1 Other
Since it is a Welfare measure for the employees, no authority has any restrictions if employer pays bonus to his employee whose mw is more than 21000. Govt is only concerned that eligible workers should not be deprived of the provision.
Good going,
From India, Thane
20Good going,
From India, Thane
Dear Friend,
Computing the bonus payable by taking all the heads of salary or paying bonus at a rate higher than the maximum rate is the discretion of the management. Only shortcoming is that the management can not claim tax concession on the excess amount so paid.
From India, Salem
Computing the bonus payable by taking all the heads of salary or paying bonus at a rate higher than the maximum rate is the discretion of the management. Only shortcoming is that the management can not claim tax concession on the excess amount so paid.
From India, Salem
Amendment to Payment of Bonus Act 2015.jpg
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc