Consequent to the amendment to the Payment of Bonus Act 1965, promulgated by the President, the ceiling of the minimum basic salary has been raised to INR 10,000 for the payment of Bonus.
We were informed that Bonus has to be paid to the employees who are drawing a Basic salary of INR 10,000 or less per month, and the payment has to take place in Nov. 07.
We wish to inform you that our company is paying Bonus to all employees irrespective of their Basic Salary amount. The minimum amount of bonus we are paying is INR 12,000 per annum, and the same is paid in the month of April for the previous financial year. It is forming part and parcel of Cost to Company per annum.
Considering the bonus amount paid by our company, we would like to know whether our company is still bound by the above said promulgation by the President of India to pay bonus to the employees.
We were informed that Bonus has to be paid to the employees who are drawing a Basic salary of INR 10,000 or less per month, and the payment has to take place in Nov. 07.
We wish to inform you that our company is paying Bonus to all employees irrespective of their Basic Salary amount. The minimum amount of bonus we are paying is INR 12,000 per annum, and the same is paid in the month of April for the previous financial year. It is forming part and parcel of Cost to Company per annum.
Considering the bonus amount paid by our company, we would like to know whether our company is still bound by the above said promulgation by the President of India to pay bonus to the employees.