I have two questions related with “The payment of Bonus Act, 1965”.
As per amendment in 2014, new wages/salary limit is Rs: 21,000/- per month. Those who are getting wages/salary upto 21,000/ are eligible to get bonus. Minimum Bonus wages/salary limit is for the bonus calculation is 7,000 or state schedule minimum wages, whichever is higher.
Now, my question is, if an employee, appointed as operator and getting Rs: 15,000/- per month as salary and the state schedule employment rate for his category is Rs: 11,000/-, then which should be considered for the calculation of Bonus? Weather it should be Rs: 15,000 or 11,000/-.
My second question is, during the payment of full and final, should we include Bonus as a part of Full & Final or not (since, bonus payment percentage is depends on the company profit)?
As per amendment in 2014, new wages/salary limit is Rs: 21,000/- per month. Those who are getting wages/salary upto 21,000/ are eligible to get bonus. Minimum Bonus wages/salary limit is for the bonus calculation is 7,000 or state schedule minimum wages, whichever is higher.
Now, my question is, if an employee, appointed as operator and getting Rs: 15,000/- per month as salary and the state schedule employment rate for his category is Rs: 11,000/-, then which should be considered for the calculation of Bonus? Weather it should be Rs: 15,000 or 11,000/-.
My second question is, during the payment of full and final, should we include Bonus as a part of Full & Final or not (since, bonus payment percentage is depends on the company profit)?