Clarification Required For Bonus Payment - PDF Download

Dear Seniors,
As per bonus Act amendment 2007, which is the latest guideline for payment of Bonus , i require some clarification
a) All employees whose salary is less than or equal to RS 10,000/- per month are eligible for Bonus?
b) But the Maximum Bonus Payable is on the calculation of Rs 3,500/- per month.
c) Should the basic +DA is Rs 4000/-, what will be applicable?
d) If our company has decided to pay 10% Bonus this year. Could some one demonstrate an example?
:-?:-?:-?I am not clear on what is Rs 10,000/- and Rs 3,500/- exactly mean in the act. Attached the Official Gazette on this.:-?:-?:-?
Requesting Seniors help:icon9::icon9::icon9: i clarifying the Bonus Act concept.
Regards,
Vicky8-)8-)8-)

Dear Vicky,
before 2007 the salary limit is 3500/- for eligibility of bonus payment but after the amendmend this limit raised upto 10000/-.
and before amendmend for calculation purpose Rs. 2500/- is considered as basis, but after the amendmend this limit raised to Rs. 3500/-.
Ihope you got your answer.
Yogesh kumar Gupta

a) Yes, all employees whose salary is equal to or below Rs. 10,000 per month will be eligible for bonus, subject to a minimum attendance of 30 days in the corresponding accounting year.
b) Maximum salary for bonus calculation will be Rs. 3500. Accordingly the maximum bonus will be 3500x12x20% = Rs. 8400.
c) Even if the basic+DA is Rs. 4000, only Rs. 3500 will be taken into account for bonus calculation.
d) If bonus is 10% and the salary to calculate bonus is Rs. 3500, then the calculation will be as follows.
3500x12x10% = Rs. 4200.
This amount viz. Rs. 4200 is for full year attendance. If the attendace is 8 months out of 12 months, then the bonus entitled will be 4200x8/12= 2800.
Abbas.P.S