Dear Seniors, Happy Diwali to all in advance.
Bonus Act Compliance Inquiry
As per our Internal Auditor's report, bonuses would not be payable to any employee exceeding 3500 INR as per the Bonus Act. Please reply to me in accordance with the law.
Regards, Ranchhod Dangar
From India, Ahmedabad
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1Bonus Act Compliance Inquiry
As per our Internal Auditor's report, bonuses would not be payable to any employee exceeding 3500 INR as per the Bonus Act. Please reply to me in accordance with the law.
Regards, Ranchhod Dangar
From India, Ahmedabad
Acknowledge(1)Amend(0)
As per the Bonus Act of 1965:
Applicability of Bonus
The ceiling for drawing a Bonus is Rs. 10,000 (Basic + DA). This means that employees who draw Rs. 10,000 or less (Basic + DA) are eligible to receive a Bonus.
Calculation
The maximum limit for calculation purposes is Rs. 3500.
For example:
- Salary of Employee A: 9500
Calculation purpose: 3500
- Salary of Employee B: 2800
Calculation Purpose: 2800
Thank you
From India, Madras
Acknowledge(1)Amend(0)
Applicability of Bonus
The ceiling for drawing a Bonus is Rs. 10,000 (Basic + DA). This means that employees who draw Rs. 10,000 or less (Basic + DA) are eligible to receive a Bonus.
Calculation
The maximum limit for calculation purposes is Rs. 3500.
For example:
- Salary of Employee A: 9500
Calculation purpose: 3500
- Salary of Employee B: 2800
Calculation Purpose: 2800
Thank you
From India, Madras
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The Payment Of Bonus Act, 1965 5 november 2016.pdf
Bonus Act - 1965 - 1.ppt
Payment of Bonus Act 1965.doc