Dear Friends,
Please see the enclosed statement for Bonus Provision made easy. Based on this statement, you can calculate the bonus provision for employees. As per the amendment of the Bonus Act, the ceiling limit is Rs. 10,000, with a minimum of 8.33%. Based on management interest, employees above the ceiling limit will consider their bonus as Ex gratia Payment. That payment may not exceed Rs. 10,000.
Regards,
PBS KUMAR
From India, Kakinada
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592Please see the enclosed statement for Bonus Provision made easy. Based on this statement, you can calculate the bonus provision for employees. As per the amendment of the Bonus Act, the ceiling limit is Rs. 10,000, with a minimum of 8.33%. Based on management interest, employees above the ceiling limit will consider their bonus as Ex gratia Payment. That payment may not exceed Rs. 10,000.
Regards,
PBS KUMAR
From India, Kakinada
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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