Dear All,
We are a manufacturing unit in Gurgaon. We want to know what is the latest bonus ceiling amount as we have to pay a bonus to our employees for the year 2010-11. We are paying a maximum of 10,000.00 (ten thousand).
We have heard that the bonus ceiling is 6,500.00. Is it correct or not? Please update us.
Sheena
From India, Delhi
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5We are a manufacturing unit in Gurgaon. We want to know what is the latest bonus ceiling amount as we have to pay a bonus to our employees for the year 2010-11. We are paying a maximum of 10,000.00 (ten thousand).
We have heard that the bonus ceiling is 6,500.00. Is it correct or not? Please update us.
Sheena
From India, Delhi
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Dear member,
I am unable to understand the information provided above. However, an employee earning up to Rs. 10,000 per month is entitled to a minimum bonus of 8.33%, calculated on Rs. 3,500 (which is Rs. 291.55 or rounded to Rs. 292 per month), and typically paid up to 20%, amounting to Rs. 8,400 (or Rs. 700 per month). To date, I have not received any information regarding changes or ceilings. If any members of the forum have different or new information, please share.
Regards,
From India, Delhi
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I am unable to understand the information provided above. However, an employee earning up to Rs. 10,000 per month is entitled to a minimum bonus of 8.33%, calculated on Rs. 3,500 (which is Rs. 291.55 or rounded to Rs. 292 per month), and typically paid up to 20%, amounting to Rs. 8,400 (or Rs. 700 per month). To date, I have not received any information regarding changes or ceilings. If any members of the forum have different or new information, please share.
Regards,
From India, Delhi
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Hi Sheena,
Earlier, the minimum bonus ceiling was a maximum of Rs. 3,500 per year to be paid within the completion of the financial year, i.e., March, for the employees drawing a salary/wages up to Rs. 6,500 per month. However, from last year, this ceiling was enhanced to salary/wages drawing up to Rs. 10,000 per month, even if the company/firm does not have a profit. The maximum bonus percentage is set at 20%. The time limit for payment is 8 months, i.e., by 30th November; hence, you are already in default.
Thank you.
From India, New Delhi
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Earlier, the minimum bonus ceiling was a maximum of Rs. 3,500 per year to be paid within the completion of the financial year, i.e., March, for the employees drawing a salary/wages up to Rs. 6,500 per month. However, from last year, this ceiling was enhanced to salary/wages drawing up to Rs. 10,000 per month, even if the company/firm does not have a profit. The maximum bonus percentage is set at 20%. The time limit for payment is 8 months, i.e., by 30th November; hence, you are already in default.
Thank you.
From India, New Delhi
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BONUS CALCULATION FOR W.B.Govt employee for 2010-2011.xls
BONUS CALCULATION RULE (1).pdf