Dear Friends,
Hi for every one, since this is my first article in the Forum.
I do not agree with Mr. Umakanthan53: what I understood from the revised Bonus act is :-
1. If the MW is less than 7000/- PM, consider as Rs.7000 for bonus calculation and Rs.7000 is to be paid as min. bonus
2. If MW is upto 21,000/- PM, calculate bonus @ 8.33% on MW
3. If anyone draws MW greater than or equal to Rs.21,000/- pm, then he/she is not entitled for bonus.
HOWEVER, the whole matter is pending with Hon. High Courts of different states to decide as to from which date the above revised bonus is applicable. On june 13, 2016, the Hon. Bombay High Court granted stay throughout India against WPL No.1548-16.
Kindly update if the above stay is vacated and a specific direction is given on the issue.
Mr.Umakanthan53, if u do not agree with me, please correct me.
Regards to every participants on the subject
Hi for every one, since this is my first article in the Forum.
I do not agree with Mr. Umakanthan53: what I understood from the revised Bonus act is :-
1. If the MW is less than 7000/- PM, consider as Rs.7000 for bonus calculation and Rs.7000 is to be paid as min. bonus
2. If MW is upto 21,000/- PM, calculate bonus @ 8.33% on MW
3. If anyone draws MW greater than or equal to Rs.21,000/- pm, then he/she is not entitled for bonus.
HOWEVER, the whole matter is pending with Hon. High Courts of different states to decide as to from which date the above revised bonus is applicable. On june 13, 2016, the Hon. Bombay High Court granted stay throughout India against WPL No.1548-16.
Kindly update if the above stay is vacated and a specific direction is given on the issue.
Mr.Umakanthan53, if u do not agree with me, please correct me.
Regards to every participants on the subject