Payment Of Bonus : Is There A Amendment To 3500 - PDF Download

FOR PAYMENT OF BONUS, IS THERE A OPTION TO PAY ON 3500x12.
"Section 12 : Calculation of bonus with respect to certain employees :- Where the salary or wage of employee exceeds 2[ two thousand and five hundred rupees] per mensem, the bonus payable to such employee u/s 10 or, as the case may be, u/s 11, shall be calculated as if his salary or wage were 2[ two thousand and five hundred] per mensem ].

Dear mr Khola,
I have come to know that bonus ceiling of Rs.3500/- is also
being changed and a bill has already been prepared and submitted. Can you throw some light on this?
Thanking you
regards
R K Nair

Mr. Nair you are right!!!
kindly find approved bill about amendment in Payment of Bonus Act.
Confusion is only that by which accounting year the amendment will come in force??
Kalpesh

The said amendment in Paymaent of Bonus Act is in form of a bill only as it has not been passed by the parliament so there is no question of its coming into force as of now.
regards,
Kamal

Hi,
Can any one provide me the details in "the payment of Bonus act 1965" that the employee resigned during the financial period are eligable for the bonus .
As per the Act.
with regards,
vivek

Bonus being a deferred wage, it should be paid to all eligible employees who have left service during the financial year. Eligible employee means those whose salary did not exceed Rs 10000 and who had worked at least for 30 days in the financial year.
The amendment has not been passed in the Parliament and once it is passed the same will be incorporated by way of an amendment to the Act and then only it will become applicable.
Regards,
Madhu.T.K

As per Payment of Bonus Act, if any employee worked for 30 days in the preceeding 12 months period, then he shall be eligible for Bonus.
Thanks.
regards
R K Nair

Dear All
Pl find attach copy of Bill and its publication in gazzets