I want to know the names of the components falling under salary/wage under Payment of Bonus Act 1965 to determine Rs.10,000\- as salary as per the amended act.
From India
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3From India
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Hi, Basic + DA(VDA and FDA) are two Components which we use for determining Rs.10000/- as Wages. Regds Surender Rawat
From United States, Salt Lake City
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From United States, Salt Lake City
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Hello all,
Thank you for the information. I just wanted to know further: do we have to pay a bonus to our field marketing staff when they are receiving their special performance bonus based on the volume of sales they are achieving.
Please provide your opinion.
Thanks once again for the information.
Divyang
I will be happy to know the names of the components falling under salary/wage under Payment of Bonus Act 1965 to determine Rs. 10,000 as salary as per the amended act.
From India, Vadodara
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Thank you for the information. I just wanted to know further: do we have to pay a bonus to our field marketing staff when they are receiving their special performance bonus based on the volume of sales they are achieving.
Please provide your opinion.
Thanks once again for the information.
Divyang
I will be happy to know the names of the components falling under salary/wage under Payment of Bonus Act 1965 to determine Rs. 10,000 as salary as per the amended act.
From India, Vadodara
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Dear Divyang,
The bonus being discussed is a statutory payment under the Payment of Bonus Act. The performance bonus, which is based on the volumes of sales, is entirely dependent on the employee's performance. It has no connection to the statutory bonus payment. Thus, employees are entitled to receive both bonuses separately.
From India, Delhi
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The bonus being discussed is a statutory payment under the Payment of Bonus Act. The performance bonus, which is based on the volumes of sales, is entirely dependent on the employee's performance. It has no connection to the statutory bonus payment. Thus, employees are entitled to receive both bonuses separately.
From India, Delhi
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Is 8.33% standard percentage for calculating bonus. if it is minimum than what is the max. who fix this percentage limits. s.saravanan
From India, Madras
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From India, Madras
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Dear Saravanan,The maximum limit for the Bonus is 20%. The percentage of the same is fixed on the basis of the Allocable surplus of the organisation under the BONUS ACT.
From India, Delhi
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From India, Delhi
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Hi, MY HR Colleagues,
In this presentation for the Bonus Act of 1965, it is a very useful reference for all HR professionals. :icon1::icon1::icon1::icon1:
Regards, M. Narendra Rao Thesule HR Dept Glovis India (HMIL-Group)
From India, Madras
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In this presentation for the Bonus Act of 1965, it is a very useful reference for all HR professionals. :icon1::icon1::icon1::icon1:
Regards, M. Narendra Rao Thesule HR Dept Glovis India (HMIL-Group)
From India, Madras
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Dear all, This is the new amendment in Bonus Act,1965. Kindly find attachment. Warm Regards Anil Pol 93242 57125
From India, Mumbai
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From India, Mumbai
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Mr. Thesule, your PowerPoint presentation is informative. However, could you please explain how the bonus is calculated for an employee who is drawing Rs. 10,000/- as Basic Pay? I would appreciate it if you could provide this information by referring to Cite HR postings.
Regards,
K. Gopalakrishnan
HR Dept
KJI (HMIL Tier I supplier)
From India, Bangalore
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Regards,
K. Gopalakrishnan
HR Dept
KJI (HMIL Tier I supplier)
From India, Bangalore
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Dear Member,
This thread relates to the Payment of Bonus Act; therefore, it is advised that you should post your query on a separate or similar thread.
Regards,
R.N.Khola
From India, Delhi
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This thread relates to the Payment of Bonus Act; therefore, it is advised that you should post your query on a separate or similar thread.
Regards,
R.N.Khola
From India, Delhi
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Hi Shepur,
“salary or wage” means all remuneration (other than remuneration in respect of over-time work) capable of being expressed in terms of money, which would, if the terms of employment, express or implied, were fulfilled, be payable to an employee in respect of his employment or of work done in such employment and includes dearness allowance (that is to say, all cash payments, by whatever name called, paid to an employee on account of a rise in the cost of living)
Explanation. – Where an employee is given in lieu of the whole or part of the salary or wage payable to him, free food allowance or free food by his employer, such food allowance or the value of such food shall, for the purpose of this clause, be deemed to from part of the salary or wage of such employee;
Thanks & Regards
Sunil Sharma
From India, New Delhi
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“salary or wage” means all remuneration (other than remuneration in respect of over-time work) capable of being expressed in terms of money, which would, if the terms of employment, express or implied, were fulfilled, be payable to an employee in respect of his employment or of work done in such employment and includes dearness allowance (that is to say, all cash payments, by whatever name called, paid to an employee on account of a rise in the cost of living)
Explanation. – Where an employee is given in lieu of the whole or part of the salary or wage payable to him, free food allowance or free food by his employer, such food allowance or the value of such food shall, for the purpose of this clause, be deemed to from part of the salary or wage of such employee;
Thanks & Regards
Sunil Sharma
From India, New Delhi
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The Payment Of Bonus Act, 1965 5 november 2016.pdf
Payment of Bonus Act 1965.doc