Understanding the Bonus Amendment Act 2010: How Does It Affect Your 2011-12 Calculations?

The Payment of Bonus Amendment Act, 2010 is applicable for the financial year 2011-12. The calculation should be based on 11% of basic instead of 8.33%. Please help. Also, please let me know from when it is applicable?

Can you provide the scanned copy of the said Act? I already have the scanned copy of the proposed bill, which, to my knowledge, has not yet been passed in Parliament and therefore has not been enacted as an Act. However, I may not be updated on this, so please help me out at the earliest.

Regards,
Amitava Majumder
[Phone Number Removed For Privacy Reasons]

Please find attached the amended PDF of the Bonus Act.

Regards,
Satish

The attachment provided by you is the amended Bill No. 15 that was proposed. Has this been enacted in the Payment of Bonus Act yet? If yes, please do provide the same for the reference of those who are unaware. Thanks!

Regards

Mr. Satish is not correct. Only the Amendment Bill was introduced. It is not enacted yet. Hence, as of today, the present status will continue until the amendment takes place.

Regards,
D. Phani Kumar
DGM-HR
Vasavadatta Cement
(A unit of Birla Group of Companies)
Sedam, Gulbarga Dist.
Karnataka.

I hope this message finds you well. I would like to inquire about the status of the bonus for this year. Will we receive the bonus according to the revised rate, or is it pending approval by Parliament? Your clarification on this matter would be greatly appreciated.

Thank you for your attention to this query.

Best regards,

Please send me a copy of the official gazette of the amended Bonus Act 2010, passed by the Parliament, and also inform me from which year the calculation of the 11% bonus would be applicable.

Thanks,
Davinder Pal Sood

The Bonus Act Amendment Bill 2010 has been tabled in LOKSABHA. However, it has not yet been passed in both Houses. The Bonus Act status quo remains as it is, i.e., OLD RATES PREVAIL.

Best wishes,
Sunil Govitrikar

To my knowledge, the Bonus Act Amendment Bill of 2010 has not yet been passed by the Lok Sabha.

Regards,
Satori S.