My company deducts Rs. 300 every month from my salary as a bonus, and then all the collected amounts are given to me every year as a bonus. Could you please provide me with information regarding whether the bonus is payable by the company or deducted from my salary?
Regards,
Riya's
From India, Nasik
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Regards,
Riya's
From India, Nasik
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Understanding Bonus Deductions
Bonus is an allowance, not a deduction. Payment of Bonus is mandatory as per the Payment of Bonus Act 1965. The minimum bonus is 8.33% of the salary, and the maximum bonus is 20% of the salary. Here, salary means Basic + DA + Retaining Allowances, etc. Therefore, your employer should not deduct Rs 300/- from your monthly salary. Just check with the HR Team in your company. Check to which category that deduction pertains.
Regards
From India, Rajamahendri
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10Bonus is an allowance, not a deduction. Payment of Bonus is mandatory as per the Payment of Bonus Act 1965. The minimum bonus is 8.33% of the salary, and the maximum bonus is 20% of the salary. Here, salary means Basic + DA + Retaining Allowances, etc. Therefore, your employer should not deduct Rs 300/- from your monthly salary. Just check with the HR Team in your company. Check to which category that deduction pertains.
Regards
From India, Rajamahendri
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Regarding bonus the company has to give the bonus based on the profits incurred to the company.Not from the salary deductions from the employees.U just ask your hr regarding this issue.
From India, Vijayawada
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From India, Vijayawada
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Understanding CTC and Salary Deductions
I think you are referring to the CTC (Cost to Company) concept. So, you mean that your monthly salary is based on that. It's not quite like that. They show the CTC amount on pay slips and then deduct the bonus, gratuity, PF (Provident Fund), and other components. After deducting all these, the company shows the gross salary.
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From India, Selam
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I think you are referring to the CTC (Cost to Company) concept. So, you mean that your monthly salary is based on that. It's not quite like that. They show the CTC amount on pay slips and then deduct the bonus, gratuity, PF (Provident Fund), and other components. After deducting all these, the company shows the gross salary.
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I have corrected the spelling and grammar errors in the text and formatted it into proper paragraphs. If you have any further questions or need additional assistance, feel free to ask.
From India, Selam
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