The ceiling for payment of bonus u/Bonus act has been enhanced from 3500 to 10000. What do you have to say about this ? Mitr_2008
From India, Hyderabad
Acknowledge(0)
Amend(0)
From India, Hyderabad
Acknowledge(0)Amend(0)
Please provide the details, i.e., through which notification, the date of enforcement, etc., to update.
If you have such a notification, please post it on this site so that everybody can get updated information.
Regards,
Pradip
From India, Pune
Acknowledge(0)Amend(0)
2If you have such a notification, please post it on this site so that everybody can get updated information.
Regards,
Pradip
From India, Pune
Acknowledge(0)Amend(0)
It was in the news about 2-3 months back, but nothing concrete has been approved. After the proper approval process, a notification would be issued. Only then will we have to think about it.
Santosh Iyer
Email: santosh_iyer79@rediffmail.com
From India, Pune
Acknowledge(0)Amend(0)
Santosh Iyer
Email: santosh_iyer79@rediffmail.com
From India, Pune
Acknowledge(0)Amend(0)
Dear,
The news has been published today (2nd Oct) in the newspapers. In the winter season, it would be put before parliament and then it would be further taken. Though the eligibility limit for coverage has been enhanced to INR 10,000/- (Basic + DA), the computation limit has been raised merely by INR 1,000/-, which is not right at all considering the fact that the limit has been raised after 10 years.
Rajeev
From India, Mumbai
Acknowledge(0)Amend(0)
The news has been published today (2nd Oct) in the newspapers. In the winter season, it would be put before parliament and then it would be further taken. Though the eligibility limit for coverage has been enhanced to INR 10,000/- (Basic + DA), the computation limit has been raised merely by INR 1,000/-, which is not right at all considering the fact that the limit has been raised after 10 years.
Rajeev
From India, Mumbai
Acknowledge(0)Amend(0)
Dear all, I want to know who will come under bonus act and what exactly is the payment to be done to which section of employees. when and which establishment will come under Bonus Act. Rgds priya
From India, Bangalore
Acknowledge(0)Amend(0)
From India, Bangalore
Acknowledge(0)Amend(0)
Dear Priya,
Greetings!
Applicability of Payment of Bonus Act:
Every factory where 10 or more persons are employed with the aid of power, or an establishment in which 20 or more persons are employed without the aid of power on any day during an accounting year.
Payment of Minimum Bonus:
8.33% of the salary or Rs.100 (on completion of 5 years after the 1st accounting year even if there is no profit).
Regards,
John N
From India, Madras
Acknowledge(0)Amend(0)
Greetings!
Applicability of Payment of Bonus Act:
Every factory where 10 or more persons are employed with the aid of power, or an establishment in which 20 or more persons are employed without the aid of power on any day during an accounting year.
Payment of Minimum Bonus:
8.33% of the salary or Rs.100 (on completion of 5 years after the 1st accounting year even if there is no profit).
Regards,
John N
From India, Madras
Acknowledge(0)Amend(0)
Hi,
Can you please tell me:
(1) Whether five years are to be counted from the date of incorporation/setup or from the start of activities. It would be appreciated if you could please quote a reference for evidence or provide the name of the site.
(2) If the company has been running in profit from the beginning, from which year is a bonus payable?
Sanjeev Kwatra
sunilsanjeev@hotmail.com
From India, Delhi
Acknowledge(0)Amend(0)
Can you please tell me:
(1) Whether five years are to be counted from the date of incorporation/setup or from the start of activities. It would be appreciated if you could please quote a reference for evidence or provide the name of the site.
(2) If the company has been running in profit from the beginning, from which year is a bonus payable?
Sanjeev Kwatra
sunilsanjeev@hotmail.com
From India, Delhi
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Amendment to Payment of Bonus Act 2015.jpg
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc